Calyx Bio-Ventures Inc. (CVE:CYX) CEO says this first phase is testing ground to streamline its blockchain technology currently being developed for the cannabis e-commerce space
SmallCapPower | December 1, 2017: Calyx Bio-Ventures Inc. (TSXV:CYX) shares surged 100% to $0.36 on Thursday after its wholly-owned subsidiary, Canada Blockchain Hosting Corp, successfully completed the installation and setup of its first cryptocurrency mining and blockchain data validation operation in Kamloops, British Columbia. Calyx Bio-Ventures paid $250,000 for the acquired assets. Vancouver-based Canada Blockchain Hosting is a blockchain computing company. This is the second phase of the Company’s objective to integrate a general cryptocurrency mining facility and distributed computing platform into the Company’s existing blockchain business model.
Calyx Bio-Ventures also owns Cannigistics Agri-Solutions Corp, which is a software development company that has created a software platform originally designed for advanced indoor agriculture, but has now evolved to serve a wider range of industries. Additionally, Calyx Bio-Ventures owns a portfolio of proprietary intellectual property with applications in crop enhancement, as well as messaging software assets.
Calyx Bio-Ventures President & CEO Roger Forde said, “This first phase provides us with a testing ground to streamline our blockchain technology currently being developed for the cannabis e-commerce space, and will generate revenue today that will cover our underlying costs on a month-to-month basis. The Company has sufficient cash in hand to accelerate that plan to the next phase and growth beyond that will be based on opportunities that present themselves.”
Shares of Calyx Bio-Ventures have soared 620% since September 20, 2017, to its current price of $0.36.
This additional computing and hash power will allow the Company to immediately generate additional revenues and significantly enhance the expansion of its private blockchain ecosystem. Calyx Bio-Ventures currently trades at a Price to Book ratio of 25.71x.
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