April 11, 2018 12:05 AM
VANCOUVER, BC, CANADA (April 11, 2018) – Mr. George Tsafalas, President & Chief Executive Officer of 360 Blockchain Inc. ("360" or the "Company") (CSE: CODE – FWB: C5B – OTC: BKLLF), a blockchain technology investment company, has issued an important letter to shareholders.
Dear 360 Blockchain Inc. Shareholders:
I would like to take the opportunity to provide an update on the Company’s growth initiatives as we continue to focus on increasing shareholder value.
Since the start of the year, we have initiated and/or closed major investments in several transformative blockchain-based companies, including SV CryptoLab, Arcology and Pressland. We also continue to execute modest initial investments in teams working on solutions for the industry’s most pressing problems, such as ePIC’s plan to produce a computing chip designed specifically to mine cryptocurrencies.
With the appointment of Jeff Koyen as the President and CEO of 360 Blockchain USA, our U.S.-based subsidiary, the Company has enjoyed great media and brand exposure — not just in the financial press and blockchain trades, but in wider media circles. This spring, Mr. Koyen will attend several prominent tech conferences as a panel moderator and/or member.
At 360 Blockchain Inc., we continue to see great growth opportunities in the blockchain space. Just as the Internet grew from a curiosity in the 90s to the world’s most transformative technology in the early 00s, so, too, will blockchain impact all aspects of our daily lives. As an early-mover, the Company is positioned to benefit from this mass adoption.
360’s Recent Highlights
- On January 1st, 2018, Jeff Koyen was appointed as President and CEO of 360 Blockchain USA, a subsidiary of 360 Blockchain Inc. founded to facilitate investments in U.S.-based companies
- On January 4th, the Company announced a $100,000 investment in ePIC Blockchain Technologies Inc. (ePIC), a Toronto-based manufacturer of highly energy-efficient cryptocurrency mining tools and infrastructure. 360’s investment will be used to accelerate development of ePIC’s first-generation bitcoin-mining chip.
- On January 17th, 360 closed previously announced 60% acquisition of SV CryptoLab Inc.
- On February 28th, the Company issued 40,999,500 units at $0.10 per unit for gross proceeds of $4,099,950. The proceeds are to be used for working capital and potential business investments.
- On March 20th, SV CryptoLab announced its spring hackathon, a development sprint focused on creating proprietary solutions for hedging cryptocurrency investments against price declines.
- On April 5th, Company announced the closing of the acquisition of Pressland, a Brooklyn-based media startup that will relaunch as blockchain-powered enterprise platform to fight fake news. 360 Blockchain USA’s President and CEO, Jeff Koyen, will oversee development.
- On April 9th, Company prospect Arcology announced the hiring of its senior engineering team and formally began production on a new enterprise-focused blockchain platform designed to improve upon — and compete with — market-leader Ethereum.
360 Blockchain Inc. continues to actively pursue early-stage blockchain technology investment opportunities, particularly in the areas of enterprise-grade smart contracts, global data management, media distribution and ownership, and supply chain auditing.
Finally, while the Company does not invest directly in cryptocurrencies, at least two of our portfolio companies are exploring plans to issue their own transactional currencies in the form of blockchain-based cryptographic tokens. Working within appropriate regulatory frameworks, the Company will announce more details about these offerings when they’re available.
George Tsafalas, President & CEO
About 360 Blockchain Inc.
To empower blockchain technologies with capital and experience to create exponential value.
Company Description: 360 Blockchain Inc. has an all-round view to accelerate the development and application of revolutionary blockchain technologies by investing capital and expertise. We are founded on the belief that blockchain technology (a distributed ledger that is transparent and incorruptible) has the potential to transform the way business is conducted, delivering security, cost savings and efficiency gains not seen before in our internet connected world. 360 Blockchain is focused on these technologies as they apply to cryptographic tokens and transactional cryptocurrencies; enterprise-grade smart contracts; global data management; media distribution and ownership; supply chain auditing and beyond.
For further information, please contact:
George Tsafalas, President & CEO or
Anil Mall, Investor Relations
Telephone: 1 (778) 806-5150
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.