The five Canadian Blockchain stocks on our list have all announced multi-million-dollar financings over the past month
SmallCapPower | November 10, 2017: Developments in the Blockchain sector have picked up over the last couple of months as multinationals are beginning to consider implementation of the technology. RBC and JP Morgan Chase & Co are one example, as they announced a partnership to launch a Blockchain-based payment technology. The interest in the sector has also been driven by the continued rise of cryptocurrencies such as Bitcoin, which is up 50.3% month over month. Companies in the sector, such as the Canadian Blockchain stocks on our list, have leveraged investor interest in the disruptive technology as they continue to announce new financing deals.
GoldMoney Inc. (TSX:XAU) – $7.22
Internet Software & Services
GoldMoney offers precious metals custody services along with a precious metals trading platform (called GoldMoney Holding) that allows for easy access to investment in commodities such as gold, silver, platinum and palladium. The Company announced recently that it would integrate cryptocurrencies onto its existing platform.
On October 25, GoldMoney completed a bought deal financing for $30 million in exchange for ~7,000,000 shares at a price of $4.30 per share.
- Market Cap: $549 Million
- Month over Month Return: 49.2%
HIVE Blockchain Technologies Ltd. (TSXV:HIVE) – $4.34
IT Services
HIVE Blockchain Technologies is a cryptocurrency miner with operations primarily in Iceland and Sweden. The Company opened its first facility in Iceland, which was completed in May 2017. The mining facility has the capability to mine a variety of cryptocurrencies, including Ethereum.
On October 25, the Company announced its third major financing for $30 Million in exchange for 10,715,000 units (each unit has one common share and one warrant with a strike price at $3.90, expiring in two years).
- Market Cap: $1,018 Million
- Month over Month Return: 150.9
Global Blockchain Technologies Corp. (TSXV:BLOC) – $2.84
Capital Markets
Global Blockchain Technologies acts as an investment vehicle for those looking to invest in blockchain technologies. The Company recently announced an agreement to acquire a 49.9% interest in a cryptocurrency miner called Coinstream Mining Corp.
On November 9, the Company announced plans for an upsized (from $30 million) $40 million financing agreement for 15,700,000 units at a price of $2.55 (each unit includes one common share and one common share warrant, with a strike price of $3.50 expiring in two years).
- Market Cap: $52 Million
- Month Over Month Return: 15.9%
Leonovus Inc. (TSXV:LTV) – $0.56
Internet Software & Services
Leonovus provides data storage and security solutions to a variety of clients. The Company leverages Blockchain’s immunity to tampering and fraud, offering clients improved security and encryption.
On November 2, Leonovus announced an agreement to upsize its existing bought-deal financing from $10 million to $12 million for 24,000,000 units at a price of $0.50 (each unit comprises one common share and a ½ common share warrant at $0.65 expiring in 24 months).
- Market Cap: $115 Million
- Month over Month Return: 107.4%
Datametrex AI Ltd. (TSXV:DM) – $0.16
Internet Software & Services
Datametrex AI provides cloud-based data solutions to big data clients in the retail sector. The Company announced plans to incorporate Blockchain technology to its current software, further authenticating and validating the data collected.
On November 1, the Company announced a private placement financing for $5 million in exchange for 50 million units at $0.10 per unit (each unit comprises one common share and one common share warrant at $0.15, expiring in 18 months).
- Market Cap: $14 Million
- Month over Month Return: 45.5%
Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own units in any of the companies mentioned above.
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