/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION
MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
TORONTO, May 2, 2024
/CNW/ - Blockchain Venture Capital Inc. (the "Company" or
"BVCI") announces that Monika
Cywinska has resigned as a director of the Company,
effective May 1, 2024, and the board
of directors of the Company (the "Board") has accepted her
resignation. Ms. Cywinska has been a director of the Company since
September 10, 2020. The Company
thanks Ms. Cywinska for her valuable contributions and wishes her
every success in her future endeavors.
Since Ms. Cywinska served as the chairperson of the audit
committee of the Company, the Board has appointed Marc
Kealey to serve as the chairperson of the Audit Committee.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation,
or sale would be unlawful prior to registration or qualification
under the securities laws of such jurisdiction. This news release
does not constitute an offer of securities for sale in the United States. The securities being
offered have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and such
securities may not be offered or sold within the United States absent registration under
U.S. federal and state securities laws or an applicable exemption
from such U.S. registration requirements.
About the Company
BVCI is an Ontario incorporated
company and is registered as a money service business with the
Financial Transaction and Reports Analysis Centre of Canada (FINTRAC). It is a provider of an
innovative technology infrastructure to participants in the
emerging blockchain and distributed ledger technology industry.
Instrumental to BVCI's business and growth strategy is BVC Chain, a
proprietary blockchain platform and distributed ledger technology,
which can operate as a centralized or decentralized
ledger. BVC Chain was designed to be a turnkey solution, which can
be customized and implemented by organizations wishing to deploy
blockchain platform based solutions, products or services. BVC
Chain will also serve as the platform and infrastructure for BvcPay
and CADT. BvcPay is a cloud based mobile application that is
intended to have the capability to function as a Digital Currency
wallet and which can facilitate point of sale and online
transactions using Bitcoin, Ethereum and
CADT. CADT is the native Digital Currency of the BVC Chain, and it
is intended to be a stablecoin. BVCI's CADT business
division is expected to issue CADT, a cryptographic
stablecoin supported on a 1:1 basis with an equivalent
amount of Canadian dollar held in a custodial account. CADT is
expected to support real time pricing, payment, settlement, digital
asset issuance and ledger capabilities.
Unless and until BVCI obtains the necessary regulatory approvals
or unless it can rely on an exemption from the prospectus and
registration requirements in furtherance of the issuance and
trading of CADT, there is no assurance BVCI will be able to pursue
its proposed CADT business or any related BvcPay business that
relies on CADT.
Although the term "stablecoin" is commonly used,
there is no guarantee that the asset will maintain a stable value
in relation to the value of the reference asset if and when traded
on secondary markets or that the reserve of assets will be adequate
to satisfy all redemptions.
Forward-Looking Information and
Statements
Certain statements in this news release may constitute
"forward-looking" statements which involve known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements of the Company or the industry in which
it operates to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. When used in this news release, the
words "estimate", "believe", "anticipate", "intend", "expect",
"pursue", "proposed", "plan", "may", "would", "should", "will", the
negative thereof or other variations thereon or comparable
terminology are intended to identify forward-looking statements.
Forward-looking statements in this news release include, but are
not limited to statements related to: the Company's business plans
and strategies; use of proceeds from the Offering; and closing and
size of the Offering. Such statements reflect the current
expectations of the management of the Company with respect to
future events based on currently available information and are
based on certain assumptions and are subject to risks and
uncertainties that could cause actual results, performance or
achievements to differ materially from those expressed or implied
by those forward-looking statements, including assumptions and
risks related to receipt of regulatory approvals and to carry on
its proposed CADT business or any related BvcPay businesses. These
risks and uncertainties are detailed from time to time, including,
without limitation, under the heading "Risk Factors", in the
Company's listing statement, which is available on
www.sedarplus.com., and in other continuous disclosure documents
that are filed by the Company from time to time and which are
available at www.sedarplus.com and to which readers of this news
release are referred for additional information concerning the
Company, its prospects and the risks and uncertainties relating to
the Company and its prospects. New risk factors may arise from time
to time and it is not possible for management to predict all of
those risk factors or the extent to which any factor or combination
of factors may cause actual results, performance and achievements
of the Company to be materially different from those contained in
forward-looking statements. Although the forward-looking statements
contained in this news release are based upon what management
believes to be reasonable assumptions, the Company cannot assure
investors that actual results will be consistent and investors
should not place undue reliance on forward-looking statements as a
prediction of actual results.
The forward-looking information contained in this news
release is current only as of the date hereof. The Company does not
undertake or assume any obligation, except as required by law, to
release publicly any revisions to these forward-looking statements
to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
No securities commission or regulatory authority has approved
or disapproved the contents of this news release.
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 nor have they approved or
disapproved of the content hereof.
SOURCE Blockchain Venture Capital Inc.