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DevvStream Holdings Inc. (Formerly 1319738 B.C. Ltd.) Announces Closing of Reverse Takeover

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Vancouver, British Columbia–(Newsfile Corp. – November 7, 2022) – DevvStream Holdings Inc. (formerly 1319738 B.C. Ltd.) (the Company” or “DevvStream“) is pleased to announce the completion of its previously announced acquisition by the Company of DevvStream Inc (formerly DevvESG Streaming, Inc.) (“DESI“) and reverse takeover of the Company (the “Transaction“).

Sunny Trinh, CEO of DevvStream, stated, “Another phase in the evolution of DevvStream begins with the closing of this Transaction and anticipated listing on the NEO Exchange. We are excited to present investors access to participate in our holistic, unique, tech-focused climate financing approach. We are an early mover in the public markets with this business model, and look forward to moving DevvStream into its next phase to further its mission of reversing climate change while creating a positive social impact and providing shareholders with exposure to high-quality and high-return carbon offset projects.”

The Transaction

Immediately prior to the completion of the Transaction, the Company: (i) changed its name to “DevvStream Holdings Inc.”, (ii) completed a consolidation of the then outstanding common shares (the “Common Shares“) on a 28.09 to 1 basis and (iii) amended its articles to redesignate the Common Shares as subordinate voting shares (“Subordinate Voting Shares“) and create a new class of multiple voting shares (“Multiple Voting Shares“).

On completion of the Transaction, the Company issued:

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  • an aggregate of 20,543,751 Subordinate Voting Shares to former holders of subordinate voting shares of DESI;
  • 4,650,000 Multiple Voting Shares to the former holder of multiple voting shares of DESI;
  • an aggregate of 5,456,250 Subordinate Voting Shares to former holders of common shares of DevvESG Streaming Finco Ltd. (“Finco“);
  • an aggregate of 7,521,874 replacement warrants to purchase Subordinate Voting Shares to former holders of warrants of DESI and Finco, in exchange for the cancellation of such warrants;
  • an aggregate of 707,350 replacement finder’s warrants to purchase Subordinate Voting Shares to former holders of finder’s warrants of DESI and Finco, in exchange for the cancellation of such finder’s warrants;
  • an aggregate of 6,780,000 replacement restricted share units to former holders of DESI restricted share units, in exchange for the cancellation of such restricted share units; and
  • an aggregate of 2,480,000 replacement options to purchase Subordinate Voting Shares to former holders of DESI options, in exchange for the cancellation of such options.

Former holders of Common Shares hold 1,249,793 Subordinate Voting Shares upon completion of the Transaction.

Listing

The NEO Exchange has provided conditional approval for the listing of the Subordinate Voting Shares. The Subordinate Voting Shares are expected to be posted for trading on the facilities of the NEO Exchange under the symbol “DESG” as soon as practicable, subject to the satisfaction of all remaining conditions. There will be no market for securities of the Company until listing occurs.

Board and Management Changes

Upon completion of the Transaction, all of the directors and officers of the Company resigned. The new board of directors of the Company is comprised of Tom Anderson (Chairman), Ray Quintana, William Stewart, Jamila Piracci and Stephen Kukucha, and the Company will be led by a management team comprised of Sunny Trinh as Chief Executive Officer, David Goertz as Chief Financial Officer, Bryan Went as Chief Revenue Officer and Chris Merkel as Chief Operating Officer and Corporate Secretary. Further information regarding the board of directors and management of the Company will be included in the filing statement of the Company (the “Filing Statement“), which will be filed on the Company’s profile on SEDAR at www.sedar.com.

Additional Information about the Transaction

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Further details of the Transaction, the Company and its business will be provided in the Filing Statement. Reference is also made to the news releases of the Company dated December 21, 2021 for additional information relating to the Transaction and to the information circular of the Company, dated December 22, 2021 (the “Circular“), which is available on the Company’s profile on SEDAR at www.sedar.com.

About DevvStream

DevvStream is an ESG principled, high-tech, impact-investing company focused on high quality and high return carbon credit generating projects. DevvStream offers investors exposure to carbon credits, a key instrument used to reduce emissions of carbon dioxide and other greenhouse gases from industrial activities to reduce the effects of global warming. DevvStream’s technology partnership with Devvio, Inc. (“Devvio“) provides DevvStream access to Devvio’s proprietary ESG blockchain platform (the “DevvESG Platform“). Through the DevvESG Platform, DevvStream can track and manage all data used to generate and transact carbon credits, providing a leading level of transparency and provenance to its credits.

For further information please contact:

Sunny Trinh (Chief Executive Officer)
[email protected]

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Investor Relations
Focus Communications
947-689-6041
[email protected]

Cautionary Statements

This news release contains forward-looking statements and/or forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the listing of the Subordinate Voting Shares on the NEO Exchange and the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the expectations of the Company include the failure to satisfy the conditions of the NEO Exchange regarding the listing and other risks detailed from time to time in the filings made by the Company under securities regulations, including, without limitation, the Filing Statement and the Circular.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and except as may be expressly be required by law, the Company disclaims any intent, obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

The securities of the Company have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

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The NEO Exchange does not accept responsibility for the adequacy or accuracy of this press release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/143421

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Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Blocks & Headlines: Today in Blockchain – April 23, 2025 – EDPB, Binance, MicroCloud, Nile Coin, TruaBroker

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Welcome to Blocks & Headlines, your daily op-ed–style briefing on the most significant developments in blockchain technology and the cryptocurrency industry. Today’s dispatch spotlights landmark privacy guidelines from the European Data Protection Board, Malaysia’s engagement with Binance’s founder to turbocharge digital finance, a groundbreaking blockchain reconstruction solution from MicroCloud Hologram, the impending launch of Nile Coin on Solana by Hyperscale Data’s subsidiary BitNile.com, and Trua’s AI-driven TruaBroker compliance platform. These stories underscore how regulation, infrastructure innovation, token launches, and compliance automation are shaping Web3’s next chapter.


1. EU’s Privacy Guardrails: EDPB Proposes Blockchain Data Access Guidelines

Source: Decrypt

The European Data Protection Board (EDPB) has published draft guidelines aimed at reconciling blockchain’s immutable architecture with GDPR’s privacy mandates. Key directives include avoiding on-chain storage of personal data when it conflicts with Data Protection by Design and by Default, conducting Data Protection Impact Assessments (DPIAs) for high-risk processing, and implementing organizational and technical measures to limit default data access to an “indefinite number of persons” Decrypt.

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Op-Ed Insight:These guidelines mark a pivotal moment. By mandating privacy-by-design and off-chain anchoring of sensitive information, the EDPB effectively pressures projects to adopt hybrid architectures—where on-chain transparency coexists with off-chain confidentiality. While defenders of pure decentralization decry potential censorship, privacy advocates hail these guardrails as essential to prevent authoritarian misuse of immutable ledgers. Ultimately, projects that bake data protection into their smart contracts and storage layers will secure both regulatory compliance and user trust.


2. Malaysia Taps Binance’s CZ for a Blockchain Finance Overhaul

Source: Bitcoin News

Malaysian Prime Minister Anwar Ibrahim has initiated high-level discussions with Changpeng Zhao (CZ), Binance’s founder and former CEO, to position Malaysia as Southeast Asia’s preeminent hub for tokenization and digital finance. The dialogue focuses on leveraging blockchain to modernize capital markets, streamline cross-border payments, and foster regulatory sandboxes that attract global Web3 startups Beamstart.

Op-Ed Insight: Engaging CZ signals Malaysia’s ambition to leapfrog legacy financial architectures by importing Binance’s exchange expertise and compliance playbooks. Yet success hinges on crafting balanced regulations that encourage innovation without compromising investor protection. If Malaysia can marry CZ’s technical insights with proactive oversight—such as clear licensing pathways for decentralized exchanges—it could catalyze a shift in regional capital flows from traditional finance hubs like Singapore to Kuala Lumpur.


3. MicroCloud Hologram’s VSS-Powered Blockchain Reconstruction Solution

Source: PR Newswire

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MicroCloud Hologram Inc. (NASDAQ: HOLO) unveiled an innovative blockchain reconstruction solution that employs Verifiable Secret Sharing (VSS) technology to split and distribute private key shares across distributed nodes. Four core components—VSS-based key sharding, redundant node storage, dynamic participant verification, and incentive-driven reward/penalty mechanisms—enable rapid, trustless restoration of blockchain data integrity following attacks or node failures PR Newswire.

Op-Ed Insight: As DeFi and on-chain finance proliferate, uninterrupted availability and data consistency have become paramount. MicroCloud’s VSS approach transforms reconstruction from a centralized recovery process into a decentralized protocol, minimizing reliance on any single custodian. This paradigm could redefine disaster-recovery benchmarks: imagine an exploited smart contract whose state is instantly rebuilt through pre-sharded secrets, preserving transactional continuity without manual key escrow.


4. BitNile.com to Launch Nile Coin on Solana Blockchain

Source: GlobeNewswire

Hyperscale Data, Inc. (NYSE American: GPUS) announced that its social gaming subsidiary BitNile.com will launch Nile Coin on Solana on May 1, 2025. Solana’s high throughput and low fees position it as an optimal platform for BitNile’s gaming ecosystems, where Nile Coin will fuel in-game economies, reward completions, and facilitate peer-to-peer transactions. Further details on tokenomics and utility are expected in the coming weeks GlobeNewswire.

Op-Ed Insight: While new token launches are ubiquitous, Nile Coin’s Solana-native design leverages one of the fastest blockchains for scalable micro-transactions—a critical requirement for social gaming. Success will depend on robust token utility, partnership integrations, and community incentives. If BitNile.com can embed Nile Coin across multiple entertainment verticals (e-sports, virtual concerts, NFTs), it could ignite a network-effect flywheel, bolstering both user engagement and on-chain liquidity.

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5. TruaBroker: Automating Compliance with AI-Powered Trust Credentials

Source: PR Newswire (via Benzinga)

Trua, a leader in digital trust credentials, launched TruaBroker™, a cloud-based platform that automates compliance for broker-dealers and Registered Investment Advisors. Built on Trua’s patented Continuous Evaluation engine, TruaBroker delivers real-time monitoring of FINRA, SEC, and NFA records; identity verification; and continuous credential checks—all without IT integration. Its AI algorithms flag licensing gaps, disciplinary histories, and civil actions, enabling firms to maintain audit readiness and mitigate risk proactively Benzinga.

Op-Ed Insight: In an era when on-chain transactions intersect with regulated financial activities, seamless compliance is non-negotiable. TruaBroker’s model—issuing reusable, verifiable digital credentials anchored by blockchain—offers a blueprint for how KYC/AML processes can evolve into dynamic, trustless workflows. As DeFi platforms eye tokenized securities and on-ramps, integrating similar continuous-evaluation mechanics could become a competitive differentiator, blending self-sovereign identity with regulatory assurance.


Conclusion
Today’s headlines illustrate blockchain’s multifaceted evolution: from regulatory frameworks enforcing privacy and consumer rights, to infrastructure innovations that ensure resilience; from national strategies enlisting industry titans to drive tokenization, to platform launches forging new digital economies; and from compliance automation transforming institutional trust to AI-powered credentialing.

As the space matures, successful projects will be those that:

  1. Embed privacy and compliance by design—aligning with GDPR and global regulations.

  2. Invest in self-healing architectures—leveraging cryptographic primitives like VSS.

  3. Cultivate vibrant token ecosystems—anchored on high-performance chains.

  4. Adopt continuous, AI-driven governance—bridging the gap between Web3 innovation and traditional financial oversight.

Stay tuned to Blocks & Headlines for incisive commentary and daily updates on the blockchain stories that shape tomorrow’s decentralized future.

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Blockchain

Kindcard, Inc. Launches Payments Marketplace

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Blockchain

Esposito Intellectual Enterprises (EIE) and Krown Technologies Announce Groundbreaking Partnership to Redefine Blockchain Innovation

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