Planet Ventures Inc (PXI) News

PXI (PNXPF on the OTC):effective Oct. 28,2020 a one for 5 reverse split:

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

For anyone interested in the blockchain/crypto-currency arena and missed Planet PXI.V, please take a look at their news release below:

Planet Ventures focusing on cryptocurrency, blockchain


Planet Ventures Inc. is focusing its attention toward investing in the rapidly growing cryptocurrency/blockchain space.

The company's initiative is to empower entrepreneurs developing disruptive technologies in the blockchain space and provide them with the necessary capital and expertise to help them revolutionize the industry.

Management is working to position Planet as a leading investment issuer giving shareholders access to a wide range of investments in all sectors of the market with strong exposure to the crypto space. Planet will primarily, but is not limited to, invest in existing cryptocurrencies, initial coin offerings, and public and private companies working to revolutionize and disrupt the entire blockchain industry.

To date, the company has made several strategic investments within the cryptocurrency and blockchain arena and plans to deploy additional capital in the sector. Planet's portfolio investments include the following.

Hive Blockchain Technologies Ltd.

Hive is a growth-oriented, TSX Venture Exchange-listed company building a bridge from the blockchain sector to traditional capital markets. Hive is strategically partnered with Genesis Mining to build the next generation of blockchain infrastructure. Hive owns state-of-the-art GPU-based (graphics processing unit) cryptocurrency mining facilities in Iceland, which produce mined cryptocurrency such as Ethereum around the clock.

Aida Minerals Corp.

Aida has signed a non-binding letter of intent to acquire 100 per cent of 10375977 Canada Inc., a blockchain technology company doing business as Greenstream.

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 early adopters and pioneers who have had a significant impact on the rise of the blockchain. Global Blockchain is focused on streamlining the complicated process that interested investors currently must undergo in order to gain exposure to the cryptocurrency space. Global Blockchain aims to become the world's first publicly traded company that invests in vertically integrated originators and managers of top-tier blockchains and digital currencies.

Planet has also directly acquired holdings in Bitcoin, Ether and Litecoin.

The company believes that the blockchain/cryptocurrency market is at its infancy and the intent is to invest the company's capital at the forefront of this revolution. Given the size of the company's treasury, which sits at over $5-million (including marketable securities), Planet believes they can drastically increase shareholder value over the short term.

In addition, Planet is looking to potentially add management and advisory staff who are industry experts and who can help expose the company to new opportunities globally.

The company has set up a digital wallet and plans to invest in the growing initial coin offering market in the near future. Initial coin offering is an unregulated and controversial means of crowdfunding through the use of cryptocurrency, which can be a source of capital for start-up companies. In an initial coin offering, a percentage of the newly issued cryptocurrency is sold to investors in exchange for legal tender or other cryptocurrencies such as Bitcoin. The term may be analogous with token sale or crowd sale, which refers to a method of selling participation in an economy, giving investors access to the features of a particular project starting at a later date. Initial coin offerings may sell a right of ownership or royalties to a project.

The company will retain its investment portfolio and will continue to assess new opportunities for investment outside of the cryptocurrency/blockchain space. Notwithstanding the focus on cryptocurrency, the company may take advantage of investment opportunities as they arise.