VANCOUVER, British Columbia, Jan. 30, 2018 /CNW/ -- Global Blockchain Technologies Corp. (OTC: BLKCF) (CSE: BLOC) (Frankfurt: BWSP), is pleased to provide a business update and a summary of recent activities announced by the Company.
Summary of Recent Activities:
- Global Blockchain Technologies Corp. listed on the CSE – On Monday, January 22, 2018, the Company commenced trading on the Canadian Securities Exchange (CSE) under the same ticker "BLOC". Effective at the close of business, Friday, Jan. 19, 2018, the common shares of the Company were no longer listed on TSX Venture Exchange at the request of the company. As a result of the switch, some wires and stock quotation services/websites have failed to pick up Company news over the course of the last week.
- Company Secured 100MW of Power in North America – On January 25, 2018, the Company called a trading halt at 9:02 a.m. ET to announce that it had entered into an agreement with a turnkey mining operator ("Montana Agreement") to operate Global Blockchain's 6,666 Antminer S9 bitcoin miners, with anticipated delivery commencing in March 2018, which will allow it to secure 100MW of power in North America. The Company's industry-leading energy and mining partner has already made 64MW available, and the balance will be available in early Q2. The facilities are located in Anaconda and Butte, Montana, taking advantage of the state's cool climate, and include a world-class secure data center facility utilizing best-of-breed technology. The facility has exclusive access to an on-site substation, allowing for reliable power. Global Blockchain is examining the purchase of additional Antminer S9s to be delivered in the second quarter of 2018. On-site technicians will accommodate the immediate setup of machines to begin mining upon arrival in late Q1 and early Q2. The Company intends to occupy the entire 100MW of mining capacity. For more info, please visit https://ir.globalblockchain.io/press-releases/detail/21/global-blockchain-secures-100mw-of-power-in-north-america.
- Blockchain Set Date for Spinout of Global Blockchain Mining as Stand-Alone Publicly Listed Entity – On January 25, 2018, the Company also announced that it intended to pursue a plan of arrangement to spin out the value in its mining division. Through the arrangement, the Company intends to list Global Blockchain Mining Corp., along with all of its mining interests, as a publicly listed Canadian entity. The spinout will be on a one-for-one basis with every share held of Global Blockchain Technologies Corp., entitling the holder to one share of Global Blockchain Mining Corp. The Company has set the annual general and special meeting (the "Meeting") for April 10, 2018. All shareholders as of the record date, March 1, 2018, will be entitled to vote at the Meeting, as well as to the spinout share. The completion of the arrangement and the listing of Global Blockchain Mining will be subject to regulatory approval of this transaction and the approval of shareholders, the Supreme Court of British Columbia, and the CSE, which is not guaranteed. The anticipated assets of Global Blockchain Mining Corp. will include, as constituted at present, 6,666 machines and 100MW of power, the proposed acquisition of Coinstream, and Coinstream's additional assets, including its stake in Distributed Mining. For more info, please visit https://ir.globalblockchain.io/press-releases/detail/21/global-blockchain-secures-100mw-of-power-in-north-america.
- Company Announced Strategic Initiative into GiveMeSport Media Properties and Audience – On January 23, 2018, Global Blockchain announced that it made a $3 million strategic investment into Breaking Data Corp. as an introduction to blockchain technology in the GiveMeSport ecosystem. GiveMeSport's content generates over 3.1 billion impressions (Aug-17), reaching over 119 million unique users (Aug-17) per month on Facebook alone. More specifically, Breaking Data and Global Blockchain will collectively investigate opportunities that can be implemented using Blockchain-based applications and protocols to enhance the GiveMeSport audience and user experience, including how to best leverage the huge following on Facebook and GiveMeSport.com. For more info, please visit https://ir.globalblockchain.io/press-releases/detail/20/global-blockchain-announces-strategic-investment-of.
- Global Blockchain's Kodak Coin Investment Announced Significant Industry Milestone with tZero – Global Blockchain's blockchain subsidiary, tzero.com, Inc. ("tZero"), announced on January 17, 2018, that it intends to provide advisory services in connection with the recently announced KODAKOne Coin Security Token Offering. In addition, tZero will advise on secondary trading of the Kodak Coin. This is the first third-party coin to be announced that tZero will be listing and trading on its much anticipated regulated ICO exchange. Utilizing blockchain technology, the KODAKOne platform is an encrypted, digital ledger of rights ownership for photographers to register both new and archived work that they can then license within the platform. With the Kodak Coin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, receive a share of overall platform revenue, and for both professional and amateur photographers, sell their work confidently on a secure blockchain platform. For more info, please visit https://ir.globalblockchain.io/press-releases/detail/19/global-blockchains-kodak-coin-investment-announces.
- Company Announced up to $7 Million Investment Commitment in Millennial Esports – On January 16, 2018, the Company agreed to invest $2 million into Millennial Esports Corp.'s previously announced private placement. The private placement is being made in conjunction with Millennial's announced acquisition of an 82 percent interest in Eden Games. Eden Games' popular mobile racing game, Gear.Club, has been downloaded more than 6.5 million times. Millennial's combined total community will exceed 20 million users who are passionate and extremely active in gaming. Millennial Esports provides turnkey global solutions that cover gaming technology, content production, and broadcasting, with a focus on leveraging synergies between traditional sport and esports. In November, Millennial Esports announced the formation of a new division focused on the creation and implementation of a blockchain-based in-game and cross-platform game and digital content tokens. Millennial has just announced that it is launching its proprietary token, which will be implemented using blockchain-based applications and protocols, to enhance the community and user experience, including how to best leverage the huge followings of Gear.Club and O'Gaming. Subject to execution of definitive agreements, Global Blockchain would become the lead investor in this initiative and anticipates making an initial $5 million investment into the token offering. For more info, please visit https://ir.globalblockchain.io/press-releases/detail/18/global-blockchain-announces-up-to-7-million-investment.
- Global Blockchain Announced Strategic Investment in Spectra7 Microsystems – On January 11, 2018, the Company announced it has made a strategic investment of C$2 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. For more info, please visit https://ir.globalblockchain.io/press-releases/detail/17/global-blockchain-announces-strategic-investment-in.
About Global Blockchain Technologies Corp.
Global Blockchain Technologies Corp. 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.
GBT is listed on the CSE 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.
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 favorable 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 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.
SOURCE Global Blockchain Technologies Corp.
For further information: Shidan Gouran, President, (416) 854-3017, http://www.globalblockchain.io