SMC Clarifies Its Letter of Intent to Acquire a Stake in a SEC Registered and FINRA Regulated Broker Dealer
BOCA RATON, FL / ACCESSWIRE / April 18, 2023 / SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC: SMCE), an incubator company focused on acquisition and support of commercialized financial services and technology (Fintech) companies, wishes to clarify its recent announcement to acquire a minority stake in a SEC registered and FINRA regulated broker dealer (“Broker Dealer”), based in Texas.
On February 28, 2023, SMC announced it signed a Letter of Intent to acquire a minority stake in Broker Dealer (“BD LOI”) for equity pending FINRA approval.
On February 15, 2023, SMC announced it signed a Letter of Intent to acquire AI-enabled wealth management technology platform provider, Fyniti Global Equities EBT Inc. (“Fyniti”) (“Fyniti LOI”).
SMC wishes to clarify that BD LOI and Fyniti LOI are two separate transactions and will be subject to separate due diligences processes and approvals.
About Fyniti Global Equities EBT Inc.
Fyniti Global Equities EBT Inc. is a Fintech platform developer founded by veteran wall street technologists and investment bankers. Fyniti has a clear focus on developing disruptive technologies in the Wealth Management and capital markets domains. Fyniti owns the IQ Engine and EBT technology which combine to provide AI driven Quantitative investing and AI based Basket Trading platforms.
About SMC Entertainment, Inc.
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMCs multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information, visit www.smceinc.com.
Press Release Contact
Erik Blum
CEO & President
SMC Entertainment, Inc.
Ron Hughes
COO & Director
ron.hughes.operations@gmail.com
360-820-5973
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