Global Blockchain Lists Warrants for Trading, Provides Corporate Update and Update on “Fork” Spin-out
May 10, 2018 (Source) — GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (“BLOC” or the “Company”) (CSE:BLOC) (FSE:BWSP) (OTC:BLKCF) is pleased to announce that that the Canadian Securities Exchange (the “CSE“) has approved the listing for trading of its common share purchase warrants (the “Warrants“) issued on December 21, 2017 pursuant to its bought deal private placement led by Canaccord Genuity Corp. with a syndicate of underwriters including Clarus Securities Inc., Eight Capital and Haywood Securities Inc.
LISTING OF WARRANTS
The Warrants will commence trading on the CSE on May 10, 2018, under the symbol “BLOC.WT”. There are currently 33,698,340 Warrants issued and outstanding. Each Warrant entitles the holder thereof to acquire one common share of BLOC at a price of $1.75 until December 21, 2019.
SPINOUT OF MINING DIVISION
On January 25, 2018, the Company announced that it intended to pursue a plan of arrangement to spin out the value in its mining division. The spinout will be on a one-for-one basis with every share held of the Company entitling the holder to one share of Global Blockchain Mining Corp. (“Blockchain Mining”) The anticipated assets of Blockchain Mining will include as constituted at present, 6,666 machines and 100MW of power, Coinstream Mining Corp. (“Coinstream”), and Coinstream’s additional assets, including its stake in Distributed Mining Corp. and the wholly owned Mozambique facility totaling 25 megawatts of capacity.
All shareholders’ as of the March 1, 2018 (the “Record Date” for the plan of arrangement), will receive shares in Blockchain Mining as soon as it commences trading with the CSE. Furthermore the Company has applied for a US trading symbol and will provide additional details as soon as they become available.
The Company also announces that further to our April 24th news release, the initial listing application for Blockchain Mining has been submitted to the CSE under the ticker “FORK”. Management anticipates FORK should commence trading in late May 2018, subject to approval by the CSE.
Further to the press release dated February 27, 2018, the Company wishes to advise that the below projects remain on track and that BLOC is looking forward to provide further information in the coming days and weeks:
- Trade finance in conjunction with major state actors;
- Enterprise peer-to-peer storage solutions;
- Ethereum hard fork with features that enhance it as a global payment rails solution (the laser blockchain);
- Tokenization of twelve incumbent gaming networks with over 400 million users, including functionality for both e-sports and gambling;
- Securitization platform for artworks, including music, video and brands, in partnership with some of the world’s most recognizable artists, brands and studios, something not possible before the advent of blockchain; and
- Launch of an exchange federated on the Stellar network with leading forex (foreign exchange) and remittance partners to be announced.
In addition, the Company continues with its collaboration on, and monetization of, existing strategic equity and ICO investment holdings. The Company is currently reviewing over half a dozen new partnerships, including final-stage discussions on an investment into a genetics-to-sale cannabis blockchain platform, participation in the launch of an exchange for security tokens and a utilities exchange, and the launch of back-end payment systems to create fungibility for the Company’s projects, and projects on which the Company is partnered.
OTHER CORPORATE MATTERS
On February 20, 2018, the Company announced that it would be making an investment of $2 million in the private token offering of MEvU, a product of Decent Tech Inc. (“MEvU”). The investment would be made in addition to the Company’s acquisition of a 30% interest in Decent Tech Inc., MEvU’s parent company. Based on recommendations from the Company’s Investment Committee and the Board of Directors, BLOC has decided not to proceed with the investment in MEvU or Decent Tech Inc. at this time.
The Company also announces that Mr. Shidan Gouran will be taking over the CEO duties and title from Mr. Rik Willard effective immediately as Mr. Willard continues to focus on his other ventures. Mr. Gouran will continue to act as President & CEO for BLOC.
The Board of Directors would like to thank Mr. Willard for his contributions to the Company and wish him all the best with his future endeavors.
On behalf of the Company:
Shidan Gouran, President & CEO
About Global Blockchain Technologies Corp.
The Company provides investors access to a basket of direct and indirect holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies.
The Company is focused on streamlining the currently arduous, lengthy, and complicated process that interested investors must 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.
BLOC is listed on the CSE and its common shares trade under the ticker symbol “BLOC”. Additional information relating to BLOC is available on SEDAR at www.sedar.com, the CSE at www.theCSE.com, as well as on the Company’s website at www.globalblockchain.io.
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 laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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