back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Lifeist Wellness to sell certain intellectual property assets to Spinach Pay

By Edlyn Cardoza

November 26, 2021

  • Asset Management
  • Canada
  • Cannabis
Share

Lifeist Wellness, Spinach Pay, USA, CanadaLifeist Wellness Inc., a wellness company that leverages advancements in science and technology to enable you to find your path to wellness, recently announced that it has entered into a definitive agreement and completed the sale of certain intellectual property assets to Spinach Pay Inc., a privately owned FinTech company offering its customers’ payment solutions for the U.S. market. All proceeds of the transaction will be for the benefit of Lifeist shareholders.

The Assets comprise specific intellectual property of Lifeist used in connection with a cannabis payments software concept for future deployment within the U.S. cannabis industry.

“This transaction is a small but continuing step in our evolution to wellness,” said Lifeist CEO Meni Morim. “As a TSXV listed company, we cannot generate any revenue in the U.S. that is related to Cannabis, or have direct holdings in companies that do so. Therefore, disposing the Assets into a Convertible Debenture, continues to breathe life into the concept and expands our portfolio of wellness assets, allowing us to potentially play a role as a technology enabler within the rapidly growing U.S. cannabis market.”

“We have launched Spinach Pay, a fintech company focused on building innovative solutions in payment processing, to go after what we believe will be a large and growing payments market around U.S. cannabis,” said Chad Agate, President and CEO of Spinach Pay Inc. “Our team is hard at work developing this concept and have already received very positive responses from our founding shareholders and prospective customers as we embark towards this new venture. I would personally like to thank Meni for our years working together and wish the Lifeist team the best of success in building its wellness portfolio, which we are proud to be a part of. As an independent company, Spinach Pay will continue the next year on product development and look forward once completed to our product launch in the U.S. market.”

Previous Article

November 26, 2021

Decentro enters new categories to empower them with API workflows

Read More
Next Article

November 26, 2021

AnaCap invests in fintus, a provider of low-code software for the financial services sector

Read More










IBSi Daily News Analysis

The Weekly Wrap

August 12, 2022

Asset Management

The Weekly Wrap: all you need to know by Friday COB | August 12th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Verdant Capital raises USD 10m of debt funding for Zeepay

Read More

Today

Synctera announced the appointment of Yvette Butler to its Board of Directors

Read More

Today

PayGround launches Payment Financing Solution on its platform

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022