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TORONTO, ON / ACCESS Newswire / August 14, 2026 / Ocham's Razor Capital Limited ("ORCL" or the "Company") and Pelican Canada Inc. ("Pelican") are pleased to jointly announce that the Canadian Securities Exchange (the "CSE") has granted conditional approval for the listing of the common shares of the resulting issuer (the "Resulting Issuer") to be formed upon completion of the previously announced reverse takeover transaction (the "Transaction"). Completion of the listing remains subject to ORCL and Pelican fulfilling all conditions of the CSE, and the Company plans to issue a subsequent press release once a listing date has been confirmed with the CSE.

In addition, Pelican announces the appointment of Nino Di Teodoro as Chief Executive Officer of Pelican, succeeding Aleksandar (Sasha) Grujicic, who has transitioned to an advisory role with Pelican.

Appointment of Chief Executive Officer

Nino Di Teodoro, brings over two decades of senior leadership experience in financial services, payments, and financial crime compliance. Mr. Di Teodoro is a product-led executive with deep expertise in P&L management, new product innovation, market strategy, and value proposition development. His career has been built at the intersection of technology and financial services.

Most recently, Mr. Di Teodoro served as Vice President at Symcor, where he led business process optimization, fraud, and financial crimes product lines. Prior to that, he held senior roles at Central 1 Credit Union, where he was responsible for digital banking platforms, strategic relationships, and payments innovation. Earlier in his career, Mr. Di Teodoro served in executive positions at Meridian Credit Union, Thales, TD Bank Group, Citi Cards Canada, and CIBC, spanning everyday banking, emerging payments technology, enterprise fraud management, and card solutions.

Mr. Di Teodoro holds a Master of Business Administration degree from the Richard Ivey School of Business at the University of Western Ontario and is a Certified Financial Planner (CFP).

Daren Trousdell, Executive Chairman of Pelican, commented: "Receiving conditional approval from the CSE is an important milestone for Pelican and validates the work our team has done to bring this transaction to this stage. We are equally pleased to welcome Nino Di Teodoro as Chief Executive Officer. Nino's extensive experience in payments, digital banking, and financial crime compliance across Canada's leading financial institutions makes him the right leader to drive Pelican's next phase of growth as a public company."

Nino Di Teodoro, incoming CEO, added: " I am excited to join Pelican at such a pivotal time. Having spent my career working with financial institutions to modernize payments and strengthen compliance, I see tremendous potential in Pelican's AI-driven platform. I look forward to working with the team to expand our customer base, enhance our product offerings, and position Pelican as a leader in this space."

About Pelican AI

Pelican specializes in providing AI-driven solutions for payment processing and financial crime compliance. With over 25 years of experience, Pelican leverages artificial intelligence, machine learning, and natural language processing to support banks, fintech companies, and corporations in managing payments and ensuring regulatory compliance. Operating in over 55 countries, Pelican has processed more than one billion transactions, encompassing various payment types and global banking standards.

Ongoing Dispute

Pelican is involved in ongoing litigation with Parth Desai, the former chief executive officer of Pelican's subsidiary, Ace Software Solutions Inc., and his affiliates in the United States, and an application commenced in Ontario seeking the appointment of a receiver over Pelican. Pelican denies the allegations made against it, has asserted counterclaims in the United States proceedings and intends to defend the proceedings vigorously. No receiver has been appointed as of the date of this news release. Although Pelican believes that it has valid defences and claims, litigation outcomes are inherently uncertain, and the proceedings could adversely affect Pelican, the Resulting Issuer and the value of its securities. Further information regarding the proceedings, Pelican's position and its counterclaims is provided under "Item 23 - Legal Proceedings and Regulatory Actions" and "Item 21 - Risk Factors" in the CSE Form 2A Listing Statement of the Resulting Issuer, which will be filed on SEDAR+ at www.sedarplus.ca. Readers should review that disclosure before making an investment decision.

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding: the expected completion of the Transaction; the expected listing of the Resulting Issuer's common shares on the CSE; the anticipated appointment of Mr. Di Teodoro as CEO of the Resulting Issuer; and other statements that are not historical facts. Forward-looking information is based on certain assumptions, including: that the Transaction will be completed on the terms and timeline currently anticipated; that all required approvals, including final CSE approval, will be obtained; that all conditions precedent to the Transaction will be satisfied or waived; and that general economic and market conditions will not materially deteriorate.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, Pelican or the Resulting Issuer to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the risk that the Transaction may not be completed on the terms described herein or at all; the risk that final CSE approval may not be obtained; general economic and market factors; risks relating to Pelican's ongoing litigation matters; competition; changes in technology; and other risks described in the Company's public disclosure documents.

The forward-looking information contained in this news release is made as of the date hereof, and the Company and Pelican do not undertake to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as may be required by applicable securities laws.

For Further Information:

Ocham's Razor Capital Limited

Robert Suttie, Chief Executive Officer

T: 416-361-0737

E: [email protected]

Pelican Canada Inc.

Daren Trousdell, Director

T:732-603-4990

E: [email protected]

SOURCE: Ocham's Razor Capital Limited

View the original press release on ACCESS Newswire