Global Blockchain Technologies Corp. (TSXV:BLOC) has invested $2.0 million by subscribing for all 8.0 million KodakCoins that were available in the pre-ICO Stage
SmallCapPower | January 11, 2018: Global Blockchain Technologies Corp. (TSXV:BLOC) is starting to make some waves in the emerging Canadian Blockchain space with two strategic investment announcements over the past couple of days.
On January 10, 2017, Global Blockchain Technologies announced that it is the lead investor in the KodakCoin Initial Coin Offering (ICO), and has invested $2.0 million by subscribing for all 8.0 million KodakCoins that were available in the pre-ICO Stage. The KodakCoin ICO will open on January 31, 2018, and is a Regulation D 506 (c) private placement open only to accredited investors from the U.S., the U.K., and Canada. The ICO offers photographers a new revenue stream and secure platform that uses Blockchain technology for protecting their work.
Shidan Gouran, President of Global Blockchain Technologies Corp., said: “Global Blockchain Technology Corp. is excited to join the KodakCoin ICO as its lead investor. This groundbreaking endeavor addresses a pressing need to manage and monetize digital assets globally. By tapping into a significant marketplace and establishing relationships with top-tier technology partners, KodakCoin allows Global Blockchain the opportunity to join what will become a very large and active community.”
Then, on January 11, 2017, Global Blockchain Technologies announced a strategic investment of $2.0 million in Spectra7 Microsystems Inc. (TSX:SEV), a provider of analog semiconductor products for broadband connectivity markets.
Global Blockchain’s investment in Spectra7 was made as part of the latter’s recently completed $15.3 million bought deal financing. GBT received 2,000 senior unsecured convertible debentures with a principal amount of $1,000 each bearing 7.0% annual interest and 2.85 million common share purchase warrants, convertible into one common share of Spectra7 at $0.50 per common share until January 9, 2021.
Prior to these two strategic investments, Global Blockchain Technologies invested US$20.0 million in Bitcoin mining equipment in December 2017, purchasing 6,666 Antminer S9s from Bitmain Technologies Limited, a privately-owned multinational semiconductor company headquartered in Beijing. Shares of Global Blockchain Technologies continue to react positively to the fast-paced developments, surging 48% to close at $2.25 on Wednesday.
Global Blockchain Technologies is an investment company that provides investors access to a basket of holdings within the Blockchain space, including blue chips (Ethereum and Bitcoin) and smaller cap crypto holdings as well as holdings that do not yet exist. The Company was originally established as a biotechnology company under the name Carrus Capital Corporation in 2010. Subsequently in 2014, the Company sold its biotechnology assets and changed its primary business focus to seeking high-return opportunities through investment in the securities of other companies, assets or businesses. On October 5, 2017, the Company changed its name to Global Blockchain Technologies Corp. with its business focus shifting to investments in Blockchain technologies.
Disclosure: Neither the author nor his/her family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below: