Technology

CHESSWOOD PROVIDES STRATEGIC REVIEW UPDATE

Published

2 years ago

June 14, 2024

TORONTO, June 14, 2024 /CNW/ – Chesswood Group Limited (“Chesswood” or the “Company”) (TSX: CHW) is providing an update on its previously announced evaluation of the strategic direction of the Company being supervised by a special committee of its board of directors (the “Committee”).

Over the course of its review to date, the Committee has come to the view that, based on a variety of factors, including the challenging economic conditions facing specialty finance companies, together with ongoing capital constraints of the Company, it is in the best interests of the Company to actively pursue a sale of one or more of its business units or the Company as a whole, and failing such sale or sales, to commence an orderly winddown of one or more of its business units. During this process, several parties have indicated an interest in acquiring the Company or certain of its business units, although the current macro-economic environment has dampened valuations from what may be achievable in the future once interest rates are lowered and other performance issues are resolved.

Recently, it came to the Company’s attention that, after properly adjusting for a system error, the Company is not in compliance with its minimum borrowing base covenants under its U.S. $300,000,000 syndicated revolving credit facility (the “Credit Facility”). The system error does not affect the calculation of the Company’s receivables and other assets or the liabilities reported in its financial statements and related MD&A.

Chesswood has received a waiver from its syndicate of lenders under the Credit Facility for the period to July 15, 2024 which will permit it to pursue transactions to remedy the breach, all while allowing its day-to-day operating activities to substantially continue. This waiver will need to be revised and extended as Chesswood executes on its plans that will bring it back into compliance with the terms of the Credit Facility.

The Company’s intention is to continue negotiations with the various parties that have expressed an interest in the Company or its business units while at the same time, augmenting its capital position through various initiatives, including capital-raising activities.

While the Company has obtained an initial waiver in relation to the Credit Facility covenant breach, there can be no assurance that any required changes or extensions to the waiver will be obtained. Further, there can be no assurance as to the timing for completion of any other capital raise or sale transaction for the Company or one or more of its business units. As such, no undue reliance should be placed on any expectations as to the occurrence of any of the foregoing and any impact on the Company or shareholder value arising therefrom.

ABOUT CHESSWOOD GROUP LIMITED

Chesswood Group Limited is a Toronto, Canada based holding company whose subsidiaries engage in the business of specialty finance (including equipment finance throughout North America and vehicle finance and legal sector finance in Canada), as well as the origination and management of private credit alternatives for North American investors. Our shares trade on the Toronto Stock Exchange (under the symbol CHW).

For information on Chesswood Group Limited and its operating subsidiaries:

www.ChesswoodGroup.com
www.PawneeLeasing.com www.TandemFinance.com
www.VaultPay.ca www.VaultCredit.com
www.Rifco.net www.WaypointInvestmentPartners.com
www.EasyLegal.ca

FORWARD-LOOKING INFORMATION

This press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release may include, but are not limited to, statements relating to the Committee’s strategic review process including the ongoing pursuit of selling one or more of the Company’s business units or the Company itself or any resulting winddown, the revision and extension of the temporary waiver of the Company’s breach under the Credit Facility and impact of such breach on its operations, and other statements that are not material facts. Forward-looking statements are typically identified by words such as “believe”, “expect”, “anticipate”, “project”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions or the negative of these words or variations of them or similar expressions.

Although the Company believes that the forward-looking statements in this press release are based on information and assumptions that are current, reasonable and complete, these statements are by their nature subject to a number of factors, risks and uncertainties, both general and specific in nature, that could cause actual results to differ materially form those expressed or implied by these forward-looking statements, including, without limitation, the possibility that a waiver in relation to the Credit Facility covenant breach may not be obtained and the availability, timing or completion of any other capital raise or sale transaction for all or part of the Company’s business. The Company cautions that the foregoing assumptions and factors are not exhaustive and other factors could also adversely affect its results. For more information on the risks, uncertainties and assumptions that could cause the Company’s actual results to differ from current expectations, please refer to the Company’s publicly filed documents, including the Company’s annual information form and management’s discussion and analysis of financial condition and performance, which are available electronically at www.sedarplus.ca.

Unless otherwise noted or the context otherwise indicates, the forward-looking statements contained in this press release describe the Company’s expectations as at the date of this press release and, accordingly are subject to change after such date. Except as may be required by applicable securities laws, the Company does not undertake any obligation to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.

NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

SOURCE Chesswood Group Limited

Technology

eSign.AI Named Sole Electronic Signature Technology Provider for Hong Kong Government’s CorpID Project, Building the Foundation for Digital Signing Infrastructure in Hong Kong

Published

5 hours ago

May 8, 2026

HONG KONG, May 8, 2026 /PRNewswire/ — As Hong Kong’s Digital Corporate Identity Platform (CorpID) counts down to its phased launch, eSign.AI has been appointed as the sole electronic signature vendor in the project, responsible for delivering core digital signing capabilities including digital signatures, certificate management, and signature verification services. CorpID is led by Nexify, a seasoned government systems integrator, as the prime contractor. The platform is expected to launch in phases starting late 2026, with multiple CorpID-based e-government services going live in mid-2027.

CorpID: Government-Grade Digital Identity Infrastructure for Hong Kong Enterprises

The Digital Corporate Identity Platform (CorpID) is an enterprise-level digital services platform launched by the Hong Kong SAR Government, developed under the oversight of the Digital Policy Office (DPO). It is designed to serve as the business equivalent of “iAM Smart,” providing a unified digital identity foundation for Hong Kong enterprises. CorpID’s core mission is to build an integrated digital government infrastructure — offering unified identity authentication, digital signing, form pre-filling, and e-licence storage — replacing paper-heavy, cumbersome traditional processes and enabling smart city development through seamless data connectivity.

The platform is open to companies incorporated under the Companies Ordinance (Cap. 622) and businesses registered under the Business Registration Ordinance (Cap. 310), including sole proprietorships and partnerships. The DPO requires all enterprise-related e-government services to support CorpID within 18 months of launch, and will continue expanding ecosystem coverage through sandbox initiatives, cross-industry identity standard interoperability, and fully online registration processes.

eSign.AI: The Digital Signing Engine Behind CorpID

eSign.AI is an AI-native electronic signature and contract automation platform built for enterprises worldwide, offering a complete signing framework from simple electronic signatures to the highest-level compliant digital signatures — meeting diverse regulatory requirements across industries and jurisdictions.

On the identity verification front, eSign.AI has completed integration with iAM Smart, enabling individual identity verification through Hong Kong’s citizen digital identity system, and providing legally valid digital certificate services for both enterprises and individuals.

Looking ahead, the eSign.AI SaaS platform will be deeply integrated with CorpID, providing enterprise and individual identity verification for Hong Kong businesses, and supporting both electronic and digital signing that complies with Hong Kong’s Electronic Transactions Ordinance — connecting the full digital contracting lifecycle for government and enterprise alike.

Getting Ahead of the AI Era: From eSignGlobal to eSign.AI

The electronic signature industry is undergoing a structural shift from “tooling” to “intelligence.” Market data underscores this acceleration: the AI-powered contract analysis tools market has grown from USD 3.32 billion in 2025 to USD 4.3 billion in 2026, at a CAGR of 29.6%. Signing is just one node in the contract lifecycle — document generation, workflow orchestration, compliance tracking, and post-execution management are all being transformed by AI, and the industry window is closing fast.

In April 2026, the company officially rebranded from eSignGlobal to eSign.AI, completing its strategic transformation from an e-signature tool provider to an AI-native contract automation platform. As the company’s spokesperson noted, this rebrand is not cosmetic — it is an acknowledgment of where the product actually is. Customers were already using eSign.AI to automate workflows that go far beyond the signature itself.

eSign Automation Skill was launched alongside the rebrand — an AI-powered signing automation framework for enterprise workflows that enables complete contract signing through natural language interaction, with no manual intervention required. Whether it is single-party approval, multi-party sequential signing, or large-scale parallel execution, an AI Agent can orchestrate the entire workflow in a single call. All signature initiations and status queries return structured JSON outputs, directly parseable by leading large language models and intelligent workflow systems.

eSign Automation is now available in the OpenClaw ecosystem and supports integration via Claude MCP, ChatGPT, and other leading AI platforms.

By combining AI automation capabilities with CorpID’s government-grade digital identity infrastructure, eSign.AI delivers a complete solution for Hong Kong enterprises — from identity verification to intelligent signing to full workflow automation.

About eSign.AI

eSign.AI (formerly eSignGlobal) is an AI-native electronic signature and contract automation platform built for enterprises worldwide. The platform serves over 100 countries and regions, covering core industries including financial services, manufacturing, real estate, human resources, and healthcare — with 1,500+ scenario applications and 3,000+ ecosystem partners. eSign.AI holds ISO 27001, ISO 27701, and ISO 27018 certifications and supports major regulatory frameworks including the U.S. ESIGN Act / UETA, EU eIDAS, HIPAA, GDPR, and 21 CFR Part 11. Infrastructure is anchored by independent data centers in Hong Kong, Singapore, and Frankfurt, Germany.

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SOURCE eSignGlobal

Technology

The 9th AskGamblers Awards Finalists Announced as Voting Starts

Published

5 hours ago

May 8, 2026

The highly anticipated 9th AskGamblers Awards has officially moved into the voting phase. Following a rigorous selection process, the finalists across 5 premier categories have been revealed: Best Casino, Best New Casino, Best New Slot, Best Sportsbook, Best Provider. Players are invited to cast their votes until 11 June.

BELGRADE, Serbia, May 8, 2026 /PRNewswire/ — The voting stage of the 9th annual AskGamblers Awards has officially begun. The list of finalists is announced, and the first votes are already coming in.

Players will have a chance to vote for their favourites until 11 June, when the winners will be announced at the gala ceremony in Belgrade. There’s a total of 5 categories where popular votes are taken into consideration:

Best CasinoBest New CasinoBest SportsbookBest New SlotBest Game Provider

There aren’t any big changes to the voting process compared to last year. The votes from the prominent members of AskGamblers Forum will be counted in as well, while some award winners will be announced directly by the AskGamblers teams.

These include: Best Crypto Casino, Best Partner, and Best Manager categories, while the AskGamblers Superstar Award is expected to be handed to the operator that illustrates the brand values best.

Dijana Radunović, General Manager at AskGamblers, is excited for voting to start: “We’re seeing some familiar contestants, but there are a lot of new names, so it will be exciting to see who comes up on top.”

“We invite players to vote for their favourites! This is a chance for you to speak your mind and support operators and games that shape this industry,” Radunović added.

Before the AskGamblers Awards Ceremony that takes place on 11 June, Charity Night is scheduled for 10 June.

About AskGamblers

AskGamblers.com strives to provide current, objective, and accurate information and guide its users towards a safe gaming experience. The way we deliver our services, from the online casino, sportsbook, slot, and bonus reviews to our trusted Complaint Service, is best described by our motto: ‘Get the truth. Then play.’

For more information about AskGamblers and AskGamblers Awards, please contact dijana.radunovic@g2m.com.

This information was brought to you by Cision http://news.cision.com

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Technology

SUNMI Wins 2026 Red Dot Design Awards with Five Products, Leading Global Commercial Industrial Design

Published

5 hours ago

May 8, 2026

SINGAPORE, May 8, 2026 /PRNewswire/ — The winners of the 2026 German Red Dot Design Award were officially announced. Five of SUNMI Technology’s flagship products won awards: the CPad Business Tablet, CPad PAY, FLEX 3 Interactive Display, the V3 handheld POS Terminal and L3 Industrial PDA. These products stood out with three core design concepts: integration, versatility and human-centricity.

Known as “The Oscars” of global industrial design, the Red Dot Award has strict evaluation criteria covering aesthetics, ergonomics, scenario adaptability and sustainability. SUNMI adheres to original commercial scenario customization, rejecting crudely modified consumer devices. All winning products are originally developed for real commercial scenarios such as cash register, food delivery, industrial inspection and store operations, covering the entire commercial track with high scenario adaptability. Meanwhile, it practices ESG concepts, adopting eco-friendly materials and modular structures to extend equipment service life, reduce consumable consumption, and implement low-carbon and long-term design, which perfectly meets the Red Dot’s sustainability evaluation criteria.

Simplify Complexity: With highly integrated design, SUNMI eliminates the “patchwork feeling” of cluttered devices and tangled cables in traditional commercial scenarios, streamlining store operations and saving space.All-in-One Versatility: Beyond a single tool function, SUNMI’s products achieve flexible transformation through modular and multi-form designs to proactively adapt to changing business needs. The CPad series with modular accessories and FLEX 3’s Lego-style modular design enable multi-scenario application and long-term reuse.Human-Centric Design: Every detail is human-oriented, focusing on real pain points to enhance scenario experience. The L3 Industrial PDA reduces high-frequency work fatigue through scientific weight distribution; the V3 Smart POS Terminal balances large-screen visibility and grip comfort; CPad PAY integrates full-link functions to simplify workflows.

These honors stem from SUNMI’s long-term commitment to a sustainable society, original commercial R&D and ESG. In the future, SUNMI will uphold its core concepts, expand the boundaries of commercial industrial design, and empower global businesses with user-oriented, eco-friendly and high-value products.

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