Global Blockchain Announces Strategic Investment in Spectra7 Microsystems
January 11, 2018 (Source) — GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (TSXV: BLOC) (FSE: BWSP) (OTC Pink: BLKCF) (“GBT” or the “Company”) is pleased to announce it has made a strategic investment of C$2.0 million in Spectra7 Microsystems Inc. (TSX: SEV) (“Spectra7”), a leading provider of high-performance analog semiconductor products for broadband connectivity markets. In November 2017, Spectra7 announced a new product line optimized for blockchain processing data centers. Data Centers focused on blockchain processing are extremely dedicated to network and computational efficiency. Spectra7’s BCI-2500 products enable copper cables up to three times the reach of passive copper cables at dramatically lower power levels than alternative solutions. Spectra7’s BCI-2500 product line is the market’s first to address the specific needs of data centers running blockchain applications including Bitcoin mining.
Bringing its unique signal processing technology to the critical interconnect layer of the data center, Spectra7 offers the following benefits to Blockchain systems:
- Breakthrough Low Power – Up to 80% less power consumption than competing solutions.
- High Performance – Scalable server and switch line rates from 25Gbps to 400Gbps.
- Low Cost – Typically 50% the cost of competing solutions.
Shidan Gouran, President of Global Blockchain noted, “Among our major investment themes in blockchain is our basket of investments in cryptocurrency mining operators and operations. We intend to focus our partners and investee companies on maximizing their efficiencies and optimizing their competitive advantage via cost savings that result in the lowest quartile cost of production. As an investor in this exciting new area, GBT aims to deliver strategic dollars and utilize its holistic knowledge of the space to facilitate real synergy and cross pollination as well as cooperation across its portfolio.”
GBT’s investment was made as part of Spectra7’s recently completed C$15.3 million bought deal public offering of units. Pursuant to its investment, GBT received 2,000 senior unsecured convertible debentures of Spectra7 (TSX: SEV.DB.A) with a principal amount of C$1,000 each, bearing interest at 7.0% annually, and 2.85 million common share purchase warrants. Each warrant entitles GBT to acquire one common share in the capital of Spectra7 at a price of $0.50 per common share until January 9, 2021.
About Global Blockchain Technologies Corp.
Global Blockchain Technologies Corp. is an investment company which proposes to provide investors access to a basket of holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies.
GBT is listed on the TSX Venture Exchange and its common shares trade under the ticker symbol “BLOC.” Other information relating to GBT is available on SEDAR at www.sedar.com as well as on the Company’s website at www.globalblockchain.io.
On behalf of:
GLOBAL BLOCKCHAIN TECHNOLOGIES CORP.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”. Forward-looking information includes, but is not limited to the Company’s goal of streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. The Company has no assets and its business plan is purely conceptual in nature and there is no assurance that it will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made, including but not limited to: statements and expectations regarding the ability of the Company to (i) successfully engage senior management with appropriate industry experience and expertise, (ii) gain access to and acquire a basket of cryptocurrency assets and pre-ICO and ICO financings on favourable terms or at all, (iii) successfully create its own tokens and ICO’s, and (iv) execute on future M&A opportunities in the cryptocurrency space; receipt of required regulatory approvals; the availability of necessary financing; permitting and such other assumptions and factors as set out herein. 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 to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in cryptocurrency prices; the estimation of personnel and operating costs; general global markets and economic conditions; risks associated with uninsurable risks; risks associated with currency fluctuations; competition faced in securing experienced personnel with appropriate industry experience and expertise; risks associated with changes in the financial auditing and corporate governance standards applicable to cryptocurrencies and ICO’s; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued development of the Company’s business plan may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation. Although the Company has attempted to identify important factors that could cause actual results to differ materially from the forward-looking information set out in this presentation, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
InvestorIntel.com is a leading online source of investor information that provides public market coverage for both investors and industry alike. A qualified online influencer through ... <Read more about InvestorIntel>