/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE
SERVICES/
TSXV: BLOC
Frankfurt: BWSP
OTC: BLKCF
VANCOUVER, Nov. 9, 2017 /CNW/ - GLOBAL BLOCKCHAIN
TECHNOLOGIES CORP. ("Global Blockchain" or the "Company") (TSX V:
BLOC | Frankfurt: BWSP | OTC:
BLKCF) is pleased to announce today that it has entered into an
amended agreement with Canaccord Genuity Corp., acting as lead
underwriter and sole bookrunner on behalf of a syndicate of
underwriters (the "Underwriters"), to increase the size of the
offering by an additional 3,900,000 units and increase the
Underwriters' Option (as defined below). Under the amended terms of
the offering, the Underwriters have agreed to purchase 15,700,000
units of the Company (the "Units"), on a "bought deal" private
placement basis, at a price per Unit of $2.55 (the "Offering Price"), for total gross
proceeds of $40,035,000 (the
"Offering").
Each Unit shall consist of one common share of the Company (a
"Common Share") and one common share purchase warrant (a
"Warrant"). Each Warrant shall entitle the holder thereof to
acquire one Common Share at a price of $3.50 for a period of 24 months following the
Closing Date.
The Company has also increased the size of the option granted to
the Underwriters (the "Underwriters' Option") from 15% to 25% of
the Offering, allowing them to purchase up to an additional
3,925,000 Units at the Offering Price, for aggregate gross proceeds
of up to an additional $10,008,750,
exercisable in whole or in part, at any time up to 24 hours prior
to the closing of the Offering at the Underwriters' sole
discretion.
The net proceeds of the Offering are expected to be used for
general corporate purposes.
The closing date of the Offering is scheduled to be on or about
November 30, 2017 (the "Closing
Date"). The Offering is subject to certain conditions including,
but not limited to, the receipt of all necessary regulatory and
stock exchange approvals, including the approval of the TSX Venture
Exchange.
The Common Shares and Warrants issuable pursuant to the Offering
will be subject to a statutory hold period lasting four months and
one day following the Closing Date.
The Offered Securities will be offered on a private placement
basis, pursuant to prospectus exemptions under National Instrument
45-106 Prospectus and Registration Exemptions in all provinces and
territories of Canada, in
the United States by way of
private placement to selected accredited investors and/or to
qualified institutional investors and outside of Canada and the
United States on a private placement or equivalent basis in
accordance with applicable laws, provided that such laws permit
offers and sales of the Offered Securities on a private placement
basis and without any obligation on the part of the Company to
prepare or file any registration statement, prospectus or other
disclosure document and without triggering any disclosure
obligations or submission to the jurisdiction on the part of the
Company.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "1933 Act"), or any state securities laws and may not
be offered or sold within the United
States or to, or for the account or benefit of U.S. persons
(as defined in Regulation S under the 1933 Act) absent such
registration or an applicable exemption from such registration
requirements.
About Global Blockchain Technologies Corp.
Global Blockchain is an investment company providing investors
access to a basket of holdings within the blockchain space, managed
by a team of industry pioneers and early adopters of all major
cryptocurrencies. Global Blockchain is focused on 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. Global Blockchain is listed on the TSX Venture
Exchange and its common shares trade under the ticker symbol
"BLOC." Other information relating to Global Blockchain 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
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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 likelihood of the transaction closing as detailed in this
news release or at all, the proposed use of proceeds and the
expected closing date of the Offering, the receipt of required
regulatory approvals including the TSX Venture Exchange, the impact
of the appointments on the Company, the Company's projected asset
allocations, business strategy and investment criteria, the timing
for implementation of financial auditing and corporate governance
standards applicable to cryptocurrencies and Initial Coin Offerings
("ICO's"), the rate of cryptocurrency adoption and the resultant
effect on the growth of the global cryptocurrency market
capitalization. The Company has no assets other than cash 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 law. Investors
are cautioned against attributing undue certainty to
forward-looking statements.
SOURCE Global Blockchain Technologies Corp.