BLOC Chairman, Steve Nerayoff states, “In less than a year, we have managed to develop three companies that are positioned to disrupt blockchain from the perspectives of mining, exchanges, and innovation. By segmenting our competencies and resources so that we can incorporate the strengths of partners such as X2 Games, we believe that this is conducive to realizing revenue earlier and being more profitable in the long term.”
BLOC assets to be spun out include:
- All rights, work product, and assets related to the development of the Laser blockchain.
- All holdings of Laser Technologies Corp. - Cayman Islands subsidiary.
- All rights, work product, and assets related to the development of the Singularity digital asset and forex exchange.
- All rights and work product relating to the business and technology development of Stratus.
- All rights and work product relating to the development of any Middle Eastern Cryptocurrency Spot Exchange.
- Blockchain Technologies DMCC – Dubai subsidiary.
- All rights and interests relating to the investment in Hyperion Crypto Exchange Inc.
- The agreement and project building ongoing with HPE.
- The Quisitive investment.
BLOC shareholders as of the November 1st Record Date will be entitled to this spinout. The spinout will also receive $2,000,000 of BLOC’s cash holdings.
TERMS
Under the terms of the transaction, for the acquisition of X2 Games, BLOC will issue 330,519,541 Common shares (“Shares”) issued at a deemed price of $0.15 per Share, resulting in an aggregate purchase price of $49,577,931.
Additionally, BLOC will also acquire from Global Blockchain Mining Corp. its 25% interest in DISCO, in exchange for $1,500,000 of BLOC Shares issued at a deemed price of $0.15 per Share. DISCO's incumbent agreements provide extreme synergy to the gaming platform that is being developed.
US DOLLAR TRADING
While the Company trades on the CSE, it currently has, and anticipates that it will continue to have, a significant international following and investor base. As such, the Company announces that it has applied for approval to have its shares trade in USD. Once approved by the CSE, the Company will issue a subsequent news release announcing the effective date. The Cusip number will remain the same.
On behalf of the Company:
Shidan Gouran, President and CEO
info@globalblockchain.io
For more information, please contact:
IRTH Communications, LLC
ir@globalblockchain.io
800-689-8089
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 Canadian Securities Exchange (“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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1 https://newzoo.com/insights/articles/global-games-market-reaches-137-9-billion-in-2018-mobile-games-take-half/
2 https://www.businessinsider.com/jeff-bezos-amazon-alexa-quote-2017-10
3 https://www.businessinsider.com/smart-speakers-are-the-trojan-horse-for-consumer-ai-2017-10
4 https://www.forbes.com/sites/johnkoetsier/2018/08/02/amazon-echo-google-home-installed-base-hits-50-million-apple-has-6-market-share-report-says/
5 https://www.theverge.com/2018/1/15/16892254/smart-speaker-ownership-google-amazon
6 https://www.theverge.com/2018/1/15/16892254/smart-speaker-ownership-google-amazon
7 https://www.theverge.com/2018/1/15/16892254/smart-speaker-ownership-google-amazon
8 https://www.theverge.com/2018/1/15/16892254/smart-speaker-ownership-google-amazon
9 https://voicebot.ai/2018/06/22/smart-speaker-sales-to-approach-12-billion-this-year-and-reach-28-billion-in-2022/
10 https://voicebot.ai/2018/06/22/smart-speaker-sales-to-approach-12-billion-this-year-and-reach-28-billion-in-2022/
