Marble Financial Granted License to Operate as a Financing Corporation in Saskatchewan, Offering Its Fast-Track Loan to Consumers
Vancouver, British Columbia--(Newsfile Corp. - December 5, 2019) - Marble Financial Inc. (CSE: MRBL) (OTCQB: MRBLF) ("Marble" or the "Company"), a financial technology company that empowers Canadians toward a positive financial future, is excited to announce that the Financial and Consumer Affairs Authority ("FCAA") of Saskatchewan has granted the Company's subsidiary, TPFM The Phoenix Fund Management Ltd. ("TPFM"), a license to operate as a Financing Corporation pursuant to: The Trust and Loan Corporations Act, 1997. This now enables Marble to offer its affordable Fast Track credit rebuilding product to consumers in Saskatchewan who are seeking an exit from their existing consumer proposal.
Marble and its subsidiary TPFM continue to expand its financial wellness strategy across Canada and now can add Saskatchewan in offering its Fast Track Loan across British Columbia, Alberta, Manitoba, Ontario, and Nova Scotia.
Since launching in 2016, Marble Financial has proudly been helping financially undeserved Canadians, with proprietary expertise and technology, optimize their credit and personal financial wellness.
A recent Insolvency Statistics Report by the Government of Canada has shown that the number of insolvencies in Canada has continued to grow, with over 125,000 insolvencies filed in 2018 alone. Data of this nature has continued to solidify Marble's growth strategy in key markets that have seen a healthy 49% month over month growth in the past 6 months. Marble's success in other jurisdictions has provided the relevant data and go-to-market analytics to enter new provinces quickly and efficiently.
Saskatchewan, which is Canada's 7th highest province for insolvencies, enables Marble to reach more qualified Fast-Track Loan customer through their already trusted and established lead partners.
"Recent growth in our other markets has proven how our Fast-Track credit rebuilding product is helping Canadians in an environment where alternatives and options are rare to non-existent," says Karim Nanji, Marble CEO. "Today, we are excited to announce further growth by expanding to Saskatchewan. as we continue to fulfill our mission to empower even more Canadians to a positive financial future."
Marble also plans to further expand by adding more Canadian provinces in 2020.
The Company has granted 250,000 stock options at an exercise price of $0.21 per common share, which vest over three years and have a term of five years to an employee of the Company
ON BEHALF OF THE BOARD OF DIRECTORS,
Karim Nanji, CEO
About Marble Financial Inc.At Marble Financial (CSE: MRBL) (OTCQB: MRBLF) we are a group of forward-thinking financial technology experts that understand Canadian's occasionally need help in achieving longer-term credit health. Through our industry-leading proprietary technology solutions Fast-Track Loan, Score-Up, and Credit-Meds, we guide our customers back to mainstream credit 50% quicker than traditional methods. Since 2016, We are proud to have empowered thousands of Canadians to a positive financial future and continue to establish ourselves as a leader in financial wellness.
For further information, please visit the company's website at http://www.mymarble.ca/
Mike Marrandino, Executive Chairman
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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