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The Iconic’s balancing act: digital vs traditional


One of Australia’s largest e-commerce pureplayers in the fashion industry, The Iconic, is continuing its push for a more enhanced and refined retargeting strategy, as it grows its digital marketing strategy.

In 2015, the business revealed it would scrap the use of TV. A year on, the business appointed its first CMO, Alexander Meyer, to lead the growth and development of its new marketing strategy.

In that time, Meyer has pushed for further paid performance marketing, coupled with a rigorous testing method of media spending in other advertising mediums, including out of home (OOH) and a recent foray into radio.

Meyer says the business is focused on making its core strength the ability to balance both traditional and online paid media, while constantly developing new strategies to generate the most engagement from the two.

“The biggest challenge when I arrived was how can we connect both these points, the strengths and data-driven paid performance marketing, and the strength in the creative look and feel in a way that we can really lead a fashion conversation in Australia and New Zealand,” Meyer told AdNews.

“Large corporations have budgets that they approach from the perspective of ‘okay, we think we need to put 20% of the budget into agencies and creation and 50% into traditional media and 30% digital media’.Alexander Meyer

The Iconic CMO Alexander Meyer

“We can’t afford to approach our marketing with that attitude and therefore have to develop budgeted strategies that allow us to maximise both digital and traditional.”

Meyer says that the company will continue to lean heavily on its retargeting strategy which, while not being able to reveal exact numbers, performs “very successfully” in terms of ROI.

However, he adds that the business walks a fine line between generating repeat business and whether it is too much from a consumer experience point of view.

“In that juxtaposition between ‘is it the right amount of retargeting or is too much retargeting?’, our success is that we have driven very big efficiencies by spending a relatively low portion of money, for example, into display retargeting,” Meyer says.

“We’ve actually seen almost surprisingly positive feedback on it, with a recent brand survey indicating that customers are finding it helpful rather than frustrating, which is the main challenge to get past.”

Traditional media challenges

In the years since The Iconic has opted out of TV advertising, Meyer says the business has adopted “a deep culture of testing and learning” to ensure they got the best out of other traditional medias.

When it came to OOH, the business realised the medium was lacking in regards to short-term business success, with The Iconic also unable to measure its worth from a mid-term effect perspective.

“Since we realised that we were struggling to understand OOH effectiveness, we adopted the idea of digital geo-split testing,” Meyer says.

“What this means is we’re testing a different type of creative across various postcodes and ultimately discovering what piece of OOH advertising works where and the impact it has on the total orders in that area. From there we are able to pinpoint its real effectiveness.

“This geo-split test idea is something we have embed across almost all types of activities to find out what works for us and what we can scale.”

The Iconic has also begun to invest more heavily into radio, following recent success on national networks including ARN and Nova.

From a budgeting point of view, Meyer says that larger corporations would find the investment in radio small, and start-ups would find the investment “somewhat significant”, leaving it “somewhere in the middle”.

“It’s not like a large multi-million-dollar investment, it’s an investment that is worthy of an AB testing investment,” he says.

“The reason we deem it successful is not because of the success of radio itself, but how it played well together with the digital channels, with paid social, with SEO and even CRM.

The value of free channels

Despite success in other areas of the marketing mix, Meyer says that people in the e-commerce and retail marketing space should never lose sight of the most important part of the marketing mix, owned and free channels.

He says its tools like email databases and social media followings that provide the best opportunity to engage with the customer on a low-cost scale.

“The biggest part of our resources, other than paid performance where we’re capturing purchase intent, really goes into making sure that our own free channels are optimised to generate consistent customer engagement,” Meyer says.

“That’s also the biggest focus that I have as a CMO, not so much the question of how can I get larger budgets to go on TV but it’s more about how can I make sure that paid performance is as efficient as it can possibly be and how can we amplify our own channels like CRM and anything connected to video and creative content strategies to play that social angle very well.”

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Forex reserves fall to four-month low | Business | thenews.com.pk


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Change AutoFill preferences in Safari on Mac


In the Safari app on your Mac, use AutoFill preferences to automatically fill in forms, user names, and passwords on webpages. To change these preferences, choose Safari > Preferences, then click AutoFill.

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Using information from my contacts

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User names and passwords

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ACCC blames Google and Facebook for fake celebrity ad epidemic

BY Josh Loh ON 25 September 2018      1 min read

The ACCC is calling on internet giants Facebook and Google to be more vigilant regarding fake celebrity endorsements in advertising.

According to the ACCC, reports of advertisements using fake celebrity endorsements to Scamwatch have increased by 400% so far in 2018. Furthermore, losses to these forms of scams have increased by 3800%.

“The growth in these scams is very concerning, particularly as over half the reports we received included a financial loss,” says ACCC deputy chair Delia Rickard.

“Most people lost between $100 and $500 and in one case, a victim lost more than $50,000 through fake celebrity endorsement of an investment scheme.”

According to the ACCC, most of the scams work by signing consumers up to ‘free trials’, a process which requires credit card details. The terms and conditions however state that the consumer must return the product within “a near impossible timeframe,” leading to an automatically renewing subscription that is “difficult to cancel.”

Rickard continues, “The groups behind these celebrity endorsement scams are organised and sophisticated fraudsters who are often involved in other scams.

“It is vital to research and read independent reviews of the company. Consumers should verify celebrity endorsement of products from the celebrity’s official website or social media account.”

The competition watchdog has called out ad serving platforms Google, Facebook and Instagram to “do more to crackdown on these fake ads” to prevent scammers reaching potential victims.

“These tech giants must do more to quickly suspend ads, as every time consumers click on a scam ad, they are at risk of losing money,” continues Rickard.

“Most of the reports to Scamwatch involve these scam advertisements running on Google ad banners or as ads in Facebook’s news feeds.”


Further Reading:



Image credit: ACCC

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Understanding the Main Types of Trusts | Smart Change: Personal Finance


Trusts are estate-planning tools, and like other estate-planning structures (like foundations or life insurance), a trust’s structure will determine how assets are controlled, whether they’re protected from future creditors’ claims, and how they’re taxed.

A trust is created by a “settlor” (or grantor) who transfers assets to a trustee. The trustee must then hold and manage the assets for the benefit of the beneficiaries.

Pretty wordy, right? Let’s use an example. If I wanted to create a trust (I would be the settlor) to hold assets for my children (beneficiaries), then I would hire a third party (trustee) to do that. Why would I do that, you ask? Well, the beneficiaries in this situation aren’t the legal owners of the trust; they’re the beneficial owners. That means they will eventually benefit from the trust’s assets, but the assets are not “theirs.” It’s also possible for the settlor of a trust to also be one of the beneficiaries, but we’ll get to that in a little bit.

Image source: Getty Images.

The main benefit of a trust is the ability to avoid probate. Probate is a process in which a will is “proved” in a court of law. Essentially, the deceased person’s will is analyzed by the court system to ensure its validity, and then the estate is distributed to heirs, beneficiaries, creditors, etc. according to the will Probate is notoriously lengthy and expensive, so a trust can save the settlor’s heirs a lot of time, money, and peace of mind.

Further, while wills are a matter of public record, trusts are not, which means people can’t learn everything about them by simply requesting a copy from the courts. There are some circumstances that would allow a trust to become public record (if a beneficiary contests the estate, for example), but they are generally shielded from the public. Not all countries recognize foreign trusts; it depends on each country’s legal system structure.

Revocable versus irrevocable trust

There are many different categories of trusts, but two particular types are important to understand: revocable and irrevocable. In a revocable trust arrangement, or “living trust,” the settlor retains the right to rescind the trust and regain control of the trust assets. In many jurisdictions, in these circumstances, the settlor is the legal owner of the trust assets for tax purposes. Being responsible for tax purposes means the settlor is responsible for the tax payments and reporting on the trust’s investment returns. Additionally, the fact that the trust is revocable and the settlor can reclaim control makes the trust vulnerable to creditors. In our example (in which I am the settlor), creating a revocable trust would allow me to earn income from trust assets but feel comforted knowing that the trust will transfer to my beneficiaries after my death or that I can tell the trustee to continue to manage the assets for my beneficiaries.

Like wills, revocable trusts can distribute assets after your death. Unlike wills, revocable trusts can manage assets during your lifetime.

With an irrevocable trust, on the other hand, the settlor can’t alter or revoke the trust relationship. The trustee is responsible for the tax payments and reporting tax information for trust assets. In this case, the trustee is the owner of the trust. Generally, an irrevocable trust structure offers greater asset protection from a settlor’s creditors.

Fixed versus discretionary trusts

After it is determined whether the trust is revocable or irrevocable, the next distinction to make is fixed or discretionary. The assets in a fixed trust are distributed at certain times or in certain amounts. The terms of the distributions of a fixed trust are specified in the trust documentation.

On the other hand, if the trust documentation states that the trustee should determine how much to distribute based on the beneficiaries’ general welfare, and at the sole discretion of the trustee, then the trust is called a discretionary trust. The settlor can make his or her wishes known in the trust documentation so the trustee has an idea of what the settlor wants, but the trustee is not bound by these wishes. Just as irrevocable trusts can shelter the settlor’s assets from creditors, a discretionary trust can protect assets from claims against the beneficiaries.

Trusts can be complicated but useful

There are other unique types of trusts, but the categories mentioned above are the most basic and important to know. For example, spendthrift trusts are used to provide resources to beneficiaries who may be unable or unwilling to manage the assets themselves, perhaps because they are young, disabled, or immature. Spendthrift trusts are a form of irrevocable trust.

It’s important to remember that the assets in a trust are not protected from any creditors who made a claim to them before the trust was established. In other words, if a creditor comes after your assets, you can’t run out and create a trust in an attempt to shield them. Trusts can be complicated and must be created accurately and carefully. There are many caveats to different trust structures, so it’s always best to consult with a professional.

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Facebook partners with ACC to implement new curriculum

AUSTIN (KXAN) — Facebook is partnering with Austin Community College to develop a digital marketing curriculum to help create more small businesses in Austin.

Austin Mayor Steve Adler says the plan could help the unemployment rate in Texas.

“One third of the jobs in Austin come from small businesses resulting in this city having the lowest unemployment rate in Texas and the second lowest in the country,” said Adler.

Facebook recently collaborated with Des Moines Area College in a similar educational program that will be released next month.

The coursework at both ACC and Des Moines Area College will have social media marketing and digital media strategy.

A Facebook spokesperson says ACC will show students how to maneuver the course.

“The main focus will be on the digital marketing ecosystem as a whole, while the goal is to provide students with a 360-degree view on what it requires to be a digital marketer,” said a Facebook spokesperson.

The president of ACC, Richard Rhodes, says this program is designed to prepare students with the skill sets necessary for them to become successful in the business world.

“Whether they are small business owners, budding entrepreneurs, looking at incubator possibilities, or existing students, this plan will provide them with everything they need to know,” Rhodes said.

Mayor Adler says having a strong social media presence is critical for small businesses to become successful.

“Facebook is an integral tool to help track customers, hire employees and build a company’s brand,” Adler said. “Through high quality, ACC is at the forefront as the lead component of shaping the workforce and economy of our community.”

Details of this curriculum are still being finalized and the program is set to launch this spring.

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Entrepreneur figures are skewed against women

The UK government says women account for just 32 per cent of entrepreneurs, a figure Treasury exchequer secretary Robert Jenrick decries as “shocking”. It is launching a new review into the gap between men’s and women’s business start-up rates ( “Report to highlight barriers facing women in business”, September 22).

However, numerical measures of male and female entrepreneurship are crude and misleading as they obscure longstanding gendered differences in broader employment patterns. For example, the government commonly uses self-employment figures as a proxy for entrepreneurship. Men dominate the building and specialised-tool operating industries, where career paths often lead to self-employment. Almost a third of self-employed men, counted as “entrepreneurs”, are found in these trades. Taxi-drivers make up another 5 per cent. On the other hand women tend to work in the public sector, hospitality and retail trades, where the route to self-employment is less obvious.

Moreover, the current fervid devotion to boosting entrepreneurship numbers hides a more fundamental issue: what kinds of business ownership can provide women with secure, meaningful and long-term paths to income generation? Quality, not quantity, should be the key focus for the government’s new report.

Sarah Marks
Buttonbag, London E8, UK

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Michael Kitces at XYPN sees sales masked as advice in digital


ST. LOUIS — It sounds good at first. The catchphrase “democratizing advice for millions” is thrown around by fintech upstarts and industry incumbents alike to promote their digital-first services and apps, particularly to younger investors.

Except, says one of the financial planning industry’s most tech-savvy advisors, what’s being offered up is not really advice. It’s something else entirely.

“They’re trying to make apps that expand the reach of their products,” says Michael Kitces, a Financial Planning contributing writer and a partner and director of wealth management at Pinnacle Advisory Group in Columbia, Maryland. “They’re all product distribution strategies. Why did JPMorgan Chase launch You Invest? Because they want to get new investors to buy their other products.”

During a roundtable at the annual XY Planning Network conference, Kitces and XYPN co-founder Alan Moore raised concerns about how banks, fintechs and insurance companies fund and roll-out digital-first services. Namely: what is their true intent?

Industry guru Michael Kitces, who, along with his business partner Alan Moore, addressed a standing room only crowd at TD Ameritrade's annual conference. Image: LILA Photo for TD Ameritrade Institutional

Industry guru Michael Kitces, who, along with his business partner Alan Moore, expect the XY Planning network will one day grow to over 10,000 members.

LILA Photo for TD Ameritrade Institutional

“[Such digital services] are all predicated around product sales and distribution and expanding wallet share of products,” Kitces says. The biggest blocking point is the advisors as salespersons themselves since “people are expensive.” As a result, Kitces added, firms are asking themselves, “‘Wouldn’t it be great if we had technology that could sell our products?’”

Some firms, such as JPMorgan Chase, have launched automated investing services for mass-affluent clients, while others are preparing to do so. Some sweeten the pot by dangling incentives to attract novice investors, such as free trading. A number of microinvesting apps now tout their services as advice, too.

The influx of services that claim to be adding advice to their offerings will in fact complicate the public’s understanding of financial planning even more, Moore says.

“These banks and these platforms can say they’re giving advice when all they are doing is selling a product,” Moore says. “The fact that they can dress up sales as advice does backfire on us. Everything negative that they say about our industry is true.”

There is a role for technology to play in product sales because it can make the process of buying a fund more efficient, says Kitces. But the lines must be clear, he added. That’s why XYPN has advocated for title reform.

“It’s not about forcing products into a fiduciary environment,” Kitces says. “It’s about not calling product sales, advice.”


“The fact that they can dress up sales as advice does backfire on us. Everything negative that they say about our industry is true.”

Adding to that criticism, Kitces heaped scorn on private equity investment in advisor technology. “They have zero interest in investing in financial planning,” Kitces says. “They want to fund tech to replace us, not grow us.”

Given that the trend is here to stay, is there a risk XYPN could be replaced or undermined?

Private equity firms have approached XYPN to offer funding, Kitces said, and added the advisor support network had turned down acquisition offers as well. “We obviously are a business, but we’re not interested in third parties whose primary metric is return on capital,” he says.

The network, which now counts 750 advisors, is still off the radar of the larger industry, Moore adds. “Most incumbents don’t know we exist,” he says, acknowledging while there could be another such network for niche practices, the XYPN business is stable and aims to become a 10,000-strong advisor network.

Nor do Kitces and Moore consider investing and trading apps or the digital-first offerings of brokerages and asset managers as direct competition, since the average client for XYPN is larger and have more complex needs than those now with digital wealth management platforms.

“We consider platforms like LearnVest as level one planning,” Moore says. “Even the biggest brands like Vanguard. They’re … pointing people in the right direction.”
Kitces added that advisors in the XYPN network have several years of experience, and thus are well differentiated.

“This advisor base is a step above the call center base,” he says. “Vanguard Personal Advisor Services is not a threat to us. In fact it’s a great source of new advisors.”

Suleman Din

Suleman Din

Suleman Din is technology editor of American Banker and Financial Planning. Follow him on Twitter at @sulemandn.

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Cannabis Beer Developer Province Brands Moves Closer to Trading Publicly – New Cannabis Ventures


Province Brands of Canada Announces Proposed Reverse Takeover of Colson Capital Corporation

CALGARY, Alberta, Sept. 24, 2018 (GLOBE NEWSWIRE) — Colson Capital Corp. (“Colson” or the “Corporation”) (TSXV: COLS.P) and Honest Inc., dba Province Brands of Canada (“Province Brands”), are pleased to announce that they have entered into an amended and restated arrangement agreement dated September 17, 2018 (the “Arrangement Agreement”) in respect of their proposed business combination transaction (the “Proposed Transaction”) which was previously announced in the news release of the Corporation dated June 5, 2018. The Proposed Transaction is expected to constitute Colson’s Qualifying Transaction under Policy 2.4 – Capital Pool Companies (“Policy 2.4”) of the TSX Venture Exchange (the “Exchange” or “TSXV”), subject to the TSXV’s approval. It is expected that the Resulting Issuer (as defined below) will be listed as a Tier 1 Life Science Issuer. A copy of the Arrangement Agreement will be made available on Colson’s company profile at www.sedar.com.

General Information on Colson and Province Brands

Colson is incorporated under the laws of the Province of Alberta and has a head office in Calgary, Alberta. Colson is a “capital pool company” under the policies of the TSXV and it is intended that the Proposed Transaction will constitute the “Qualifying Transaction” of the Corporation, as such term is defined in Policy 2.4. The Corporation is a reporting issuer in the provinces of British Columbia, Alberta, Saskatchewan and Ontario.

Province Brands, a company incorporated under the laws of Canada, is an early stage, Toronto-based, disruptive premium adult beverage company founded by veteran entrepreneurs with extensive experience in the premium alcohol and legal medical and recreational cannabis industries. Province Brands’ patent-pending process has created the world’s first beer brewed using cannabis. Alcohol-free yet intoxicating, and with a dose-response curve similar to that of alcohol, Province Brands’ cannabis-powered beers and spirits will challenge the alcohol industry by offering a safer and healthier alternative that is also low in calories and sugar. Province Brands is also developing additional premium spirits and beverages in anticipation of legalization of the use of cannabis-based products in Canada, which is anticipated to occur in the early fall of 2019 (“Potential Legislative Changes”).

The Proposed Qualifying Transaction

Pursuant to the Arrangement Agreement: (i) all of the issued and outstanding common shares of Colson (the “Colson Shares”) will be consolidated on a 11.5-for-1 basis (the “Consolidation”); (ii) Province Brands and 10938963 Canada Ltd., a wholly owned subsidiary of Colson (“Colson Subco”) will amalgamate to form Amalco; (iii) the 7,166,085 outstanding preferred shares of Province Brands (“Province Brands Preferred Shares”) will convert into common shares of Province Brands (“Province Brands Common Shares”) on a 1 for 1 basis, in accordance with their terms; (iv) the $10,974,487 principal amount of Province Brands Series A convertible notes (“Series A1 Notes”) will convert into Province Brands Common Shares on the basis of 1 Province Brand Common Share for each $1.81 of outstanding principal amount of the Series A1 Notes and the interest thereon, in accordance with their terms; (v) the $560,741 principal amount of Province Brands Series A2 convertible notes (“Series A2 Notes” and together with the Series A1 Notes, the “Province Brands Notes”) will convert into Province Brands Common Shares on the basis of 1 Province Brand Common Share for each $1.84 of outstanding principal amount of the Series A1 Notes and the interest thereon, in accordance with their terms; and (vi) the Province Brands Common Shares will be exchanged for Colson Shares on a 1 for 1 basis, resulting in Amalco becoming a wholly owned subsidiary of Colson. Upon completion of the Proposed Transaction, the resulting issuer (the “Resulting Issuer”) will carry on the business previously carried on by Province Brands and change their name to “Honest Inc.” or such other name as the directors of the Resulting Issuer determine is appropriate (the “Name Change”).

The Proposed Transaction values the Colson Shares at a deemed post-Consolidation price of $2.30 per share. It is anticipated that an aggregate of 40,501,753 Colson Shares will be issued to Province Brands shareholders (assuming completion of the maximum amount of the Private Placement (as defined below)) in exchange for their Province Brands Common Shares for total deemed consideration of $93,154,031.

Completion of the Proposed Transaction is subject to a number of conditions including, but not limited to, satisfaction or waiver of all conditions set forth in the Arrangement Agreement, receipt of all applicable regulatory, court and shareholder approvals and completion of the Private Placement on terms satisfactory to Colon and Province Brands. Shareholders of Colson approved the Consolidation and Name Change at Colson’s most recent shareholder meeting which was held on June 28, 2018. Province Brands will hold a shareholder meeting on October 11, 2018 to, among other things, approve the Proposed Transaction.

Assuming completion of the maximum amount of the Private Placement, it is estimated that there will be approximately 41,232,188 common shares of the Resulting Issuer issued and outstanding immediately following closing of the Proposed Transaction, with former Colson shareholders holding approximately 1.77% of such common shares and former Province Brands securityholders, including those persons who acquired Subscription Receipts pursuant to the Private Placement (as such terms are defined below) holding approximately 98.23% of such common shares. It is anticipated that upon completion of the Proposed Transaction, no person other than Michael Wendschuch, the proposed Chief Executive Officer of the Resulting Issuer, will own or control or direct, directly or indirectly 10% or more of the issued and outstanding shares of the Resulting Issuer.

Province Brands Private Placement

In connection with the Proposed Transaction, Province Brands is planning to complete a financing to raise gross proceeds of up to a maximum of $30,000,000, through a brokered private placement of Province Brands subscription receipts (“Province Brands Subscription Receipts”) at a price of $2.30 per Province Brands Subscription Receipt with the option to issue up to an additional $4,500,000 of Province Brands Subscription Receipts at a price of $2.30 per Province Brands Subscription Receipt (the “Private Placement”). Province Brands has engaged Paradigm Capital Inc. to act as lead agent, on behalf of a syndicate of agents, (collectively, the “Agents”) in connection with the Private Placement. The Agents will receive a cash commission equal to 6% of the gross proceeds from the Private Placement and such number of Agent’s compensation options (“Agents Compensation Options”) equal to 6% of the number of Province Brands Subscription Receipts issued under the Private Placement. Each Agents Compensation Option shall entitle the holder thereof to acquire one Province Brands Common Share at an exercise price of $2.30 for a period of two years following the date of listing of the Province Brands Common Shares (or such securities into which they are exchanged pursuant to the Arrangement) on the Exchange. Each Province Brands Subscription Receipt issued under the Private Placement will entitle the holder thereof, following the satisfaction of certain escrow release conditions, including but not limited to the completion, irrevocable waiver or satisfaction of all conditions precedent to the Proposed Transaction, to receive one Province Brands Common Share and one half of one Province Brands Common Share purchase warrant (a “Province Brands Warrant”). Each whole Province Brands Warrant will entitle the holder thereof to acquire one Province Brands Common Share at an exercise price $2.85 for a period of two years from the date of issuance of its corresponding Province Brand Subscription Receipt. Pursuant to the Arrangement Agreement the Province Brands Warrants will be exchanged for warrants of the Resulting Issuer which will entitle the holders thereof to acquire one common share of the Resulting Issuer on the same terms as the Province Brands Warrants and the Agent’s Compensation Options will be exchanged for compensation options of the Resulting Issuer which will entitle the holders thereof to acquire one common share of the Resulting Issuer on the same terms as the Agents Compensation Options.

Management Team, Board of Directors and Other Insiders

Concurrent with the completion of the Proposed Transaction, it is expected that all directors and officers of Colson will resign and be replaced by Province Brands nominees. The directors, officers and insiders of the Resulting Issuer are expected to be the following:

Michael “Dooma” Wendschuh – Proposed Chief Executive Officer.

Dooma Wendschuh is the Co-Founder and CEO of Province Brands, a Toronto-based startup in Canada’s legal cannabis industry. Prior to founding Province Brands, Mr. Wendschuh was the Co-Founder of a Colorado-based cannabinoid research and consumer products company. Before entering the cannabis industry, he was Co-Founder and Co-CEO of sekretagent Productions Inc., a film and video game production company and advertising agency best known for its video game work on the Assassin’s Creed franchise, Batman: Arkham Origins and the Prince of Persia franchise. Collectively, sekretagent Productions’ games have grossed more than $5 billion worldwide. Under Wendschuh’s leadership, sekretagent Productions also sold eight motion pictures and one television series to major studios, produced The Plague for Sony Screengems and produced award-winning work for the Coca-Cola Company, General Motors Company, Polaroid , Diamond Resorts International, Mentos Mints and Microsoft Corporation co-founder Paul among others.

Mr. Wendschuh graduated magna cum-laude from the Woodrow Wilson School of Public and International Affairs at Princeton University and received his Masters from the University of Southern California’s School of Cinema / Television Peter Stark Producing Program. In addition, Mr. Wendschuh has developed campaign strategy and produced content for Coca-Cola, General Motors, Diamond Resorts and others.

Ira Levy – Proposed Senior Vice President Finance, Chief Financial Officer.

Ira Levy is a senior financial professional with over a decade of business experience where he has been responsible for complex financial reporting, as well as for developing robust internal control systems. As Senior VP of Finance of Province Brands, Mr. Levy has been instrumental in preparing for public offering and assisting in the fundraising efforts. He has developed a reporting and control framework that has been implemented throughout Province Brands. Having spent time in senior roles within both privately and publicly held enterprises, including those within retail sector (Universal Music Group, Mark Anthony Group Inc. and IKO Industries Ltd.) and the P3/Infrastructure sector (Apleona, Bilfinger RE Asset Management Ltd.), Mr. Levy has amassed a vast array of experience within highly regulated and competitive industries.

Mr. Levy earned his Chartered Accountant (CPA, CA) designation from KPMG International Cooperative, and received his Bachelor of Business Administration (BBA, Finance and Marketing), and Masters of Business Administration (MBA, Accounting and Strategy) from the preeminent Schulich School of Business, York University.

Jennifer Dianne Thomas – Proposed Chief Legal Officer, Corporate Secretary and Director.

Jennifer Dianne Thomas is a corporate law specialist holding nearly a decade of wide ranging, significant transactional experience with private and public companies, delivering expertise in deal structuring, corporate governance, intellectual property matters and regulatory compliance. Ms. Diane Thomas’s broad subject matter and transactional knowledge results in skilled problem resolution and crisp execution in high-pressure situations. Her core competencies include delivering timely and cost-effective legal services to senior management; building effective legal teams; developing internal policies and procedures; implementing excellent organization-wide communication; and offering deep expertise in navigating the international and multi-state cannabis industry and related compliance matters. Ms. Dianne Thomas notably has significant experience advising emerging growth and start-up cannabis companies in commercial transactions, corporate governance and intellectual property matter and regulatory compliance. She has garnered significant depth of knowledge in cross-borders emerging market contracts and M&A transactions. Prior to joining Province Brands, Ms. Dianne Thomas held roles at Privateer Holdings, where she led the Marley Natural legal team. From 2008 through 2015, Ms. Dianne Thomas was an associate at Jones Day in which she served in the M&A and Banking and Finance Groups, where she advised a range of companies from start-ups through to IPO stage.

John Nemanic – Proposed Director.

John Nemanic is a serial entrepreneur and investor, leveraging extensive experience in starting, growing, managing and exiting firms. As a start-up entrepreneur, Mr. Nemanic co-founded three businesses doing more than $25,000,000 USD annually in sales. These include One venture, Geekforless.com, and Hostopia. Mr. Nemanic also sat on the Board of Directors for Transgaming Inc. (now FinDev Inc.) from the years 2006 to 2017.

Hugo Alves – Proposed Director

Hugo Alves is a leading advisor in the Canadian cannabis industry, having represented a variety of global industry participants, including licensed producers, licensed producer applicants, licensed dealers, e-commerce platforms, seed-to-sale software developers, design and build firms, patient aggregators, equipment manufacturers and distributors, and cannabis branding companies.

During his time as senior corporate and commercial Partner at Bennett Jones LLP, he founded and built the firm’s Cannabis Group. He acted as lead counsel or played a key role in a wide variety of transactions since the inception of the cannabis industry in Canada and is widely regarded as a Canadian cannabis industry pioneer. Today, Mr. Alves is President and Director at Auxly Cannabis Group, a platform spanning the entire cannabis value-chain, minimizing risk while simultaneously maximizing exposure to multiple, geographically-diverse cannabis companies through a single source.

Mr. Alves obtained his B.A from Carleton University, where he won the Senate Medal for Outstanding Academic Achievement and his Juris Doctor from the University of Toronto.

Ronan Levy – Proposed Director.

Ronan Levy is an experienced entrepreneur, investor and lawyer with extensive experience in the cannabis industry. He is a co-founder of Grassfed Ventures Inc., a private equity and advisory firm focussed on the cannabis and biotechnology industries. Mr. Levy presently serves as Chief Strategy Officer for Trait Biosciences Inc., an emerging cannabis technology company. Prior to his work with Grassfed Ventures Inc. and Trait Biosciences Inc., Mr. Levy served as Senior Vice President, Business & Corporate Affairs at Aurora Cannabis Inc., which he joined after Aurora acquired CanvasRx Inc. in 2016, a company Mr. Levy co-founded in 2014 along with Canadian Cannabis Clinics, Canada’s largest network of cannabis-specialized medical clinics.

Mr. Levy obtained both his Bachelor of Commerce and Juris Doctor from the University of Toronto.

Kathia Cambron-Gagne – Proposed Director.

Kathia Cambron-Gagne is the Editor-in-Chief and President of Dress to Kill (DTK) Magazine and Media and has been an executive since 2008. DTK Media brands itself as much more than just a publishing company and aspires to embody a lifestyle of bold fashion choices and the collision of culture and luxury. Dress to Kill Magazine has achieved status as an iconic and mainstay publication in the Canadian fashion industry.

Kathia graduated from Lasalle College in 1999 with a focus in fashion design. In 2006, Kathia completed an attestation Finance in France.

Selected Consolidated Financial Information of Province Brands

The following selected consolidated financial information of Province Brands has been supplied to Colson by Province Brands for purposes of inclusion herein in accordance with TSXV requirements:

Conditions to Completion of Proposed Transaction & Regulatory Matters

The parties to the Proposed Transaction are at arm’s length and therefore it is anticipated that the Proposed Transaction will not be a Non-Arm’s Length Qualifying Transaction for the purposes of Policy 2.4 as none of the directors, officers or insiders of Colson, or any of their respective associates or affiliates, own any securities of Province Brands. A request has been made to the TSXV for a waiver of the sponsorship requirement of TSXV Policy 2.2 – Sponsorship and Sponsorship Requirements, but there is no assurance that such waiver will be granted.

Trading of Colson Shares is presently halted and is expected to remain halted pending completion of the Proposed Transaction. Completion of the Proposed Transaction is subject to a number of conditions including, but not limited to, satisfaction of all conditions set forth in the Arrangement Agreement, receipt of all applicable regulatory, court and securityholder approvals and completion of the Private Placement on terms acceptable to Colson and Province Brands. The Proposed Transaction cannot close until all required approvals are obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this news release.

Original press release

Published by NCV Newswire

NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.

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New Federal Law Allows You to Freeze Your Credit Free of Charge


If you’re worried that someone nefarious may have gotten ahold of your sensitive personal data from a data breach or a phishing scheme, freezing your credit is one of the best ways to make sure your finances stay secure. And now you can do it for free, thanks to a new law that requires major credit bureaus to let you to freeze and unfreeze your credit without incurring any charges, according to USA Today. Previously, this could cost up to $12 per bureau, though charges were already prohibited in a few states.

Under the new federal law, which took effect September 21, you can freeze and unfreeze your credit with Equifax, Experian, and TransUnion—the three main credit bureaus—in any state without a fee. The legislation also extends fraud alerts on credit reports, allowing you to keep an alert on your account for a year instead of just 90 days.

Freezing your credit means that you’re restricting access to your credit report, which lenders typically need to see before they open a new account for you. Debt collectors and organizations you already have credit with can still access your account, but if, for instance, a scammer tries to open a new credit card or take out a loan, the process will be halted when the creditor can’t access your report. In order to let someone access your report, like if your future landlord needs to take a look, you have to unfreeze it temporarily yourself.

Fraud alerts are less drastic than credit freezes, and may be a better fit for some people who are looking to protect themselves from fraud. Instead of totally freezing access to your credit report, a fraud alert requires lenders to take extra steps to verify your identity before opening a new account in your name.

Data breaches are becoming frighteningly common, and not even credit bureaus are immune. In 2017, an Equifax hack exposed the personal information of millions of people, including social security numbers, tax identification numbers, and driver’s licenses. At least 147.9 million Americans were affected. After the breach, many security experts suggested that customers whose information may have been stolen freeze their credit. Anyone who had the bad luck to be involved in the scam had to decide whether or not to pay Equifax and other credit bureaus to protect their identities, even though they weren’t responsible for the breach in any way—no one gets to choose whether or not credit bureaus collect data on them. Now, at least, if your information is exposed through a company’s bad security practices, you can’t be charged a fee for it.

[h/t USA Today]

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