VANCOUVER, June 4, 2018 /CNW/ - BlockTech Ventures Inc. ("BlockTech" or the "Company"), is pleased to announce the successful completion of a CAD $6.8 million financing, closed on February 15th, 2018, as well as the signing of a definitive amalgamation agreement (the "Amalgamation Agreement") dated May 17, 2018 with Cayenne Capital Corp, ("Cayenne") a publicly traded issuer on the Canadian Securities Exchange (CSE: CYC). This brings the total capital raised by the Company to CAD $7.6 million to date.
Pursuant to the Amalgamation Agreement, Cayenne Capital Corp has voluntarily delisted from the CSE, in order to complete the amalgamation with BlockTech Ventures. It is the Company's intention to re-apply for listing on the CSE, carrying on business as BlockTech Ventures.
The transaction is subject to a prospectus filing and is subject to certain standard conditions including the listing approval by the CSE.
"The investment community has been extremely receptive and supportive of our business model," commented Dean Sutton, Founder and CEO. "The market is beginning to understand the significance of this technology and its applicability to business and finance. Our team is extremely focused and working effectively in the areas that we see will have the greatest impact on industry and benefit to our shareholders."
About BlockTech Ventures
BlockTech Ventures is a fully integrated blockchain technology development and enterprise solutions company, that has established a business model for the evaluation, development and commercialization of blockchain enabled technology platforms and companies. With a focus on enterprise solution development, early stage venture commercialization and regulatory compliant security tokens, BlockTech has established a position in the areas of the market that they project will have the greatest impact on industry. BlockTech's entrepreneurial team is experienced in distributed ledger technology and digital assets dating back to 2014, and has decades of direct experience in technology development, venture capital, capital markets and early-stage venture commercialization. To learn more, visit www.Block-Tech.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. BlockTech undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE BlockTech Ventures Inc.
For further information: Name: Amber Hayes, Phone: 778-888-3016, Email: [email protected]