VANCOUVER, British Columbia, Feb. 27, 2018 -- InvestorsHub
NewsWire -- Global Blockchain Technologies
Corp. (the “Company” or
“BLOC” or "Global Blockchain") is
pleased to provide, due to a high level of investor inquiry, a
further detailed explanation of what shareholders of record at the
close of market on March 1, 2018 (the “Record Date”) will receive,
as well as an overview of the parts that form the sum of Global
Blockchain.
In order to be a shareholder of record on March 1, 2018, shares
must be owned by no later than the close of market on February 27,
2018.
The Result of the Stock Split and
Spinout:
The following is an example of a BLOC shareholder holding 100
shares of BLOC on the Record Date:
As a result of the stock split (the “Stock Split”), the
shareholder will own double the amount of BLOC
shares and the equivalent number
of Global Blockchain Mining Corp. (“Blockchain Mining”) shares
post-split and spinout.
On March 1, 2018, all shareholders of record at the close of
business will also be entitled to vote on the spinout (the
“Spinout”) for which the Company is seeking shareholder approval at
the annual general and special meeting on April 10, 2018.
The Company has applied to the CSE to reserve FORK as the stock
symbol for Blockchain Mining in anticipation of the Spinout
receiving shareholder and all regulatory approvals.
Upon such approvals being granted, it is anticipated that FORK
will commence trading on the CSE in late April, 2018.
Rationale for Stock Split and
Spinout:
Shidan Gouran, President of BLOC stated, "Global Blockchain
reviewed its activities and identified that it was not achieving,
in its view, sufficient "pure play" market value for its different
and unique businesses, each housed within BLOC. Most notably
and distinctly, these verticals are:
1) The investment in or incubation and creation of new
blockchains, ICOs and tokens specifically in partnership with
leading brands that have large captive user bases, and/or in
collaboration with industry participants whose principal areas of
business truly merit and benefit from decentralization and the
blockchain; and
2) The mining of cryptocurrencies in order to provide investors
with access to existing known and blue chip currencies such as
Bitcoin and Ethereum through the deployment of hardware and
associated infrastructure that can "mine" these coins by performing
the function of verifying and validating transactions as
trustworthy through the processing of difficult cryptographic
problems that require tremendous amounts of computational power to
solve. This achieves exposure at a fraction of the cost of
ownership and speculative risk associated with retail purchase at
current price levels.
Looking at the value of our Company versus the comparable listed
universe, who for instance only act as miners, it became obvious
that comparable companies on Canadian Exchanges on every metric
including the below were being rewarded with much greater
valuations:
1) MW of power available for operations in favourable
jurisdictions; and
2) Total computing power for mining
The disparity in valuation, in the view of management, meant
that either the value of our investment and incubation vertical was
being ignored, or the value of our mining vertical was being
ignored.
The Spinout is an effort to not only simplify our story for
investors, but more critically to "unlock" this overlooked value,
by splitting the Company into two publicly traded entities, each
with its own major individual and important business focus.
The Stock Split is an effort to enhance future liquidity for
both companies. In a sea of new listings of companies
attempting to hijack the newfound popularity of Blockchain, capital
must continue to flow to those companies with the strength, tools
and ability to endure and to prosper.
With over $60 million raised to date, as well as the leadership
of a world-class team of industry pioneers, the Company believes
that it is and will continue to be an important first-mover,
carrying out its business plans as further described below, each of
which intent on creating significant, rapid and lasting value for
shareholders and having a major impact on the emerging importance
of blockchain and cryptocurrencies for governments, industries,
businesses, and individuals globally.
We are a new company doing some very, very big things."
GO-FORWARD ENTITY: GLOBAL BLOCKCHAIN TECHNOLOGIES'
BUSINESS
The assets that will continue in BLOC comprise our investments,
agreements, partnerships and independent in-house initiatives to
create and incubate Internet scale public blockchains, enterprise
solutions, tokens and ICOs.
While specifics will be announced over the coming weeks, an
overview of the venture domains for the Company's current projects
either in progress, in development, or under late-stage negotiation
include:
- 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 3 incumbent gaming networks with over 200
million users including functionality for both e-sports and
gambling;
- Decentralized marketplace for big data geared towards the
multi-trillion dollar "Internet of Things" industry;
- Peer to peer fully decentralized lending marketplace built on
the Laser Blockchain;
- 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;
- Launch of an Exchange federated on the Stellar network with
leading FOREX and remittance partners to be announced; and
- Launch of a cryptocurrency exchange with State backing
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.
Shidan Gouran noted, "With these exciting projects which create
a fundamentally industry shifting and disrupting impact to the
benefit of the public and commercial parties, BLOC is intent on
being a shaping force in the application of blockchain to existing
economies and markets.
As sole principals or co-founding principals of the
aforementioned projects, BLOC will retain a significant founder's
level interest in each, which bodes extremely favourably for the
development, if, as and when, of notable mark-to-market and
monetizable Net Asset Value for Global Blockchain
shareholders."
GO-FORWARD ENTITY: GLOBAL BLOCKCHAIN MINING'S
BUSINESS
This Spinout will liberate the value in the Company’s mining
division and the anticipated assets of Blockchain Mining will
include as constituted at present:
- Combined access to 175 megawatts of low-cost, reliable power
in Montana (J/V), Manitoba (J/V) and Mozambique (fully-owned);
- 6,666 AntMiner S9s, which are expected to be fully operational
by mid-April; and
- A 25-per-cent interest in Distributed Mining Inc.: Distributed
Mining is a blockchain software company creating software that
enables all devices to have the ability to participate in mining
cryptocurrency. The software will be available to be downloaded
through Distributed Mining or through its partner sites. Connected
devices will then be able to activate mining operations through
their devices (including, but not limited to, mobile phones and
gaming consoles).
Distributed Mining would allow anyone with a connected device to
download and install a software packet, giving the user access to
optimized cryptocurrency mining. The distributed mining platform
will be able to optimize for variable mining requirements, and its
design is particularly well suited for gaming consoles, of which
there are over 100 million currently connected units. Gaming
consoles contain stronger processing power than that found in
typical laptop/desktop computers, making them the perfect
environment to deploy the distributed mining platform as
individuals are able to put their resting consoles to work, earning
them valuable cryptocurrency tokens.
- The Company's $2 mil investment in Spectra7 Microsystems with
whom BLOC is in active conversation over collaboration and
implementation of the dynamic range of new tools being brought to
market with the following benefits to blockchain systems and our
mining business including:
- Breakthrough low power: up to 80-per-cent-less power
consumption than competing solutions;
- High performance: scalable server and switch line rates from 25
billions of bits per second to 400 billions of bits per second;
and
- Low cost: typically 50 per cent the cost of competing
solutions
- Development of the world's first System on a Chip including
HVAC units and TV set-top boxes with crypto-mining capabilities,
aimed at mass consumer devices, in potential J/V with one of the
world's foremost consumer electronics manufacturers.
- Ongoing discussion and negotiations are advancing for the
procurement of thousands of additional S9s and other cryptomining
machines.
The Company has reserved the stock
symbol FORK in anticipation of the
Spinout receiving shareholder and all regulatory approvals.
WEBSITE
Investors are invited to review the Company's current
presentation: https://globalblockchain.io/static/Global_Blockchain.pdf.
In the month of March the Company will be launching a major
overhaul of its website and investors are invited to check back for
new stand-alone presentations on both Global Blockchain
Technologies and Global Blockchain Mining which will be shared with
shareholders and stakeholders.
On behalf of:
GLOBAL BLOCKCHAIN TECHNOLGIES CORP.
“Shidan Gouran”
Shidan Gouran, President
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.
Phone: 604-687-2038
Fax: 604-687-3141
Global Gaming Technologies (CE) (USOTC:BLKCF)
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