Raffles Financial signs MOU with Canadian Resource

Dr. Charlie In reports RAFFLES FINANCIAL GROUP LIMITED SIGNS STRATEGIC MOU WITH CANADIAN RESOURCE CAPITAL CORPORATION TO SUPPORT APPLICATION FOR LETTERS PATENT TO INCORPORATE CANADIAN RESOURCES BANK Raffles Financial Group Ltd. has signed a memorandum of understanding (MOU) dated Aug. 22, 2025, with Canadian Resource Capital Corp. (CRCC) to provide strategic support for CRCC's application for letters patent to incorporate Canadian Resources Bank as a federally regulated financial institution under Canadian federal banking legislation. Key partnership details Raffles Financial will leverage its expertise in corporate finance and regulatory advisory services to guide CRCC through Canada's rigorous three-stage bank licensing process, including preapplication review, formal submission to the Minister of Finance and final regulatory approval. CRCC, which initiated its banking initiative in 2019, has already secured provisional approval for the Canadian Resource Bank and Banque De Ressources Canadienne names. Canadian Resource Bank's mission: financial inclusion Canadian Resource Bank will focus on serving underserved communities, including indigenous populations, temporary foreign workers and international students-groups often excluded from traditional banking. Its governance structure includes indigenous leaders, ensuring alignment with community needs. Raffles Financial's role As a Canadian Securities Exchange-listed advisory firm, Raffles Financial brings cross-border regulatory experience and capital markets expertise to streamline CRCC's application with the Office of the Superintendent of Financial Institutions (OSFI). Leadership insight "This partnership aligns with our strategy to back high-potential ventures," said Dr. Charlie In, chairman of Raffles Financial." Our advisory capabilities will be critical in navigating OSFI's stringent approval process." Next steps The collaboration will prioritize documentation, compliance and strategic submissions. While OSFI's review timeline varies, the partnership ensures a structured approach to meet all regulatory requirements. About Raffles Financial Group Ltd. Raffles Financial Group offers customized public listing advisory, arrangement and anchoring-investor services by working with audit, legal, tax and banking professionals. The company serves clients across the Canadian and Asia-Pacific region, and continues to expand its business through strategic investment advisory and partnerships. About Canadian Resource Capital Corp. CRCC is an Alberta-based company headquartered in Calgary, actively pursuing its vision to become a Canadian domestic deposit-taking federally regulated financial institution (FRFI). Since the submission of its initial application to the Office of the Superintendent of Financial Institutions (OSFI) in January, 2019, CRCC has remained focused on establishing a bank that reflects Canada's evolving financial landscape and addresses systemic service gaps. CRCC is firmly committed to principles of diversity and inclusion -- both within its corporate governance framework and in its approach to serving underserved market segments. Its leadership structure and shareholder base reflect a broad spectrum of perspectives and lived experiences, positioning the organization to respond effectively to the needs of Canada's diverse population. We seek Safe Harbor.