National leader in technology and office supply retail services, Innovative Systems Limited, embarked on an exciting expansion journey in 2022

but has also been moving nonstop to stay on trend and keep up to date with the latest in gadgetry and services.

iCreate Limited, in response to media releases by Sagicor that it is released from receivership wishes to clarify that at all times it challenged the Sagicor Investment’s right to call the bond as well as the receivership.  Sagicor is aware that the settlement was made subject to these challenges. We have arrived at this position after a legal review of the appropriate documentation and numerous communication between our Attorneys Henlin Gibson Henlin and the Attorneys representing Sagicor Investments Jamaica Limited and the purported receiver.

Background:

iCreate Limited has enjoyed a longstanding and mutually beneficial relationship with Sagicor Investments. As pioneers in our field, Sagicor was one of the first institutional investors and also led our IPO, demonstrating their confidence in our vision during our nascent entrepreneurial days. Over the years, open dialogue and efficient management of investment obligations characterized our association – especially with Sagicor being a top 5 shareholder in our company.

However, in recent times, a seismic shift occurred in our dealings with Sagicor, marked by a sequence of events culminating in the decision by Sagicor Investments Jamaica Limited to place iCreate in Receivership.

The sudden receivership has raised significant concerns within iCreate Limited, particularly regarding the motive behind this drastic action as prior to the purported appointment of Ken Tomlinson as Receiver, best efforts were made by me personally, to engage Sagicor, which were ignored.

Next Steps:

  1. It is important to note that once we got notice of the purported receivership we immediately sought legal representation and engaged the services of Henlin Gibson Henlin (HGH), led by Kings Counsel, Georgia Gibson Henlin.
  2. iCreate contends that Sagicor Investments Jamaica Limited's Appointment of Receivership is invalid, a stance clearly communicated to Sagicor by our legal team. A letter was sent to the Receivers to halt their actions against iCreate Limited.
  3. Contrary to public perception, iCreate has continued to manage its operations independently since the Notice of Appointment of Receivership. The company remained under our control, operating on a normal day-to-day basis.
  4. After our legal argument was outlined by our Attorneys to Sagicor’s Attorneys, a Deed of Settlement, Release & Indemnity was subsequently sent by Sagicor's legal representative to our legal team. However, after careful consideration of the terms outlined, we rejected the agreement, opting instead to pay out the bond in full, without settlement.

Legal Action:

iCreate Limited, authorized by its Board of Directors, is set to file a lawsuit against Sagicor Investments Jamaica Limited in respect of the illegal and invalid appointment has resulted in severe damages to iCreate, its subsidiaries, its Directors, and the continuity of our business ventures. As a result, we intend to seek damages in the Court of Law to rectify the financial and reputational repercussions incurred.

Legal documents, meticulously drafted by our Legal Counsel, Georgia Gibson Henlin, and the HGH team, are currently being finalized for filing in the Supreme Court of Jamaica.

Conclusion:

Despite outstanding amounts, iCreate Limited has demonstrated an unwavering commitment to open communication with Sagicor throughout the challenging period, including the global pandemic. Our dedication to transparency, justice, and upholding our rights remains steadfast.

We want to thank our shareholders for their patience as we chart our way into becoming a digital and creative group of companies along with other strategies to grow.

2023 was a record-breaking year for Lotto and Super Lotto players!

GenXS Carnival, Jamaica's Ultra-Premium Band, has partnered with McKayla Financial Services, a subsidiary of Supreme Ventures Limited (SVL), to offer masqueraders convenient micro-loans. This initiative aims to make the GenXS Carnival experience accessible to a wider audience, allowing enthusiasts to embrace the celebration without financial constraints.

Masqueraders can access a McKayla microloan with flexible payment options to secure any of three GenXS packages tailored to suit various preferences and budgets.

The available packages are:

  1. First Tier - Costume Only
  2. Second Tier - Costume and Glam Hub Package
  3. Third Tier - Costume, Glam Hub Package, and All GenXS Parties (Immortals J'ouvert, GenXS Sunset, Ocean X, and GenXS Street Jam)

For loans under US$2000, masqueraders can enjoy a 12-month unsecured loan repayment offer, providing a hassle-free commitment option. Secured loans are also available for amounts exceeding this threshold.

Ajene Green, Director at GenXS, expressed the band's commitment to accessibility, stating, "Our aim is to ensure that every individual who desires to play mas with GenXS can do so without financial burdens. This partnership with McKayla Financial simplifies the process, allowing masqueraders to enjoy the GenXS Carnival experience with ease."

Kamal Powell, Head of Marketing at  SVL , highlighted the significance of the initiative, saying, "We understand the financial considerations people face during the Christmas season. Our collaboration with GenXS provides an opportunity for masqueraders to secure their costumes with a hassle-free commitment, giving them the freedom to prioritize other seasonal expenses."

The micro-loan program comes at a time when many individuals may want to prioritize Christmas spending, and GenXS Carnival and McKayla Financial aim to make the commitment to Carnival hassle-free. This initiative allows masqueraders to enjoy their Christmas festivities while securing their place in the upcoming GenXS Carnival celebration.

About GenXS Carnival: GenXS Carnival, established in 2022, is Jamaica's premier Ultra-Premium Band. With a commitment to providing high-quality Carnival experiences, GenXS has quickly become a leader in the Carnival industry. The band offers a unique and immersive Carnival journey, redefining the standards of celebration in Jamaica.

Supreme Ventures Racing and Entertainment Limited, operators of Caymanas Park is thrilled to announce the addition of ICOOL Water and Drinks to its growing list of partners

In the dynamic realm of financial landscapes, Mayberry Jamaican Equities Limited (MJE) emerges as a beacon of success, proudly revealing stellar financial results for the fiscal year ended December 31, 2022.

Tuesday, 19 December 2023 11:29

Lifespan CEO wins global award

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Co-founder and CEO of Lifespan Company Nayana Williams was recognized with an international honour recently; she is the recipient of the prestigious Go Global Women in Business Award from the International Trade Council (ITC).

Friday, 08 December 2023 12:56

Lasco Gold Card demand surges

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LASCO Financial is calling on persons locally and overseas to simplify their lives in its latest campaign ‘Simplify your life’.

Thursday, 16 November 2023 03:41

Hanover Player Hits $342 Million Super Lotto Jackpot

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Hanover is on a lottery winning streak as one player from the area has hit the whopping $342 Million dollar Super Lotto jackpot!

Wednesday, 15 November 2023 13:31

SV Fintech Launch

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Driven by a vision to enhance financial inclusion throughout Jamaica's economic landscape Supreme Ventures subsidiary, Supreme Ventures Fintech Limited (SVFL), is rapidly expanding its 'Evolve' suite of financial services. In a significant milestone towards realizing this vision, SVFL has secured a license from the Bank of Jamaica to operate a remittance business within the country, further advancing its expansion strategy.

Delroy Anderson, Chief Innovation Officer at SVFL, offered insights into the company's ambitious product expansion plans. "Supreme Ventures Fintech is ready to redefine convenience and access to financial services. Through the introduction of Evolve Pay, our bill payment service, Evolve Money Transfer and other products in the pipeline, we will empower individuals, businesses and communities with greater access to retail financial services and wealth creation opportunities. We’re very excited about our entry into bill payment and remittances and are targeting rapid growth in the space.”

Supreme Ventures Fintech has forged a strategic partnership with Ria Money Transfer and in the coming weeks will be rolling out Evolve Money Transfer. As the newest player in the remittance, Evolve Money Transfer is promising customers a more convenient option to receive money in Jamaica.

Anderson shared how SVL’s island-wide reach will be leveraged to offer easy access to its Evolve suite of products across the country. “We will capitalize on the strength of the Supreme Ventures brand, our robust transaction platform and expansive reach through our retailer network in every nook and cranny of Jamaica. We are executing a phased rollout of our products across the island. Customers can stay in the know and check for locations close to them that offer our services by visiting our website and social media pages. This is just the beginning of our mission to revolutionize the way people experience financial empowerment. We eagerly anticipate the lasting impact our innovations will have on our customers' lives.”

Each product in Supreme Ventures Fintech's portfolio is meticulously crafted with convenience, innovation, and a commitment to advancing financial inclusion and empowerment at its core. In 2021, the company launched its microfinancing product, Evolve Lend, catering exclusively to its 1,300 retail agents across the island. Through this product, SVFL has provided financing to many ambitious micro entrepreneurs who make up SVL’s retail network, empowering them to grow their businesses. That same year, SVFL acquired majority shares in microfinance company McKayla Financial Services, further cementing its presence in the financial services sector. In another positive move, in 2023, McKayla Financial Services received a microcredit license from the Bank of Jamaica. The popular ChargeUp product provides consumers with hassle-free access to prepaid top-up and recharge services. Charge Up is available at participating retail locations and ‘Supa Sellaz’ islandwide. Supa Sellaz is SVL’s roaming sales team that literally takes gaming “to the streets” through its mobile POS devices.

EvolvePay, initially introduced in a pilot phase in 2022, allows customers to pay bills at select Supreme Ventures locations across the island. With an ever-expanding cadre of popular billers, including Flow and the National Water Commission, Evolve Pay promises to become one of the most accessible and user-friendly options to pay bills. Customers who use Evolve pay will enjoy real time updates on their accounts. They will also be able to verify their bill balances in-store whether or not they have their bills in hand.

Anderson emphasized that the launch of these products under the company’s Evolve brand, represents just the beginning of Supreme Ventures Fintech's transformative journey. "We have a myriad of exciting products in the pipeline, offering our customers even more to look forward to in 2024. Our commitment to evolution knows no bounds," he affirmed.

Thursday, 02 November 2023 13:10

MOU DOLLA X OPTIMUM SIGNING

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On Thursday, November 2, 2023, Dolla Financial Services and Optimum Distributors forged a strategic alliance that promises to reshape the landscape of business financing.