Global Blockchain Tech­nolo­gies plans spinout, X2 buy

Stockwatch Daily - - FINANCE - Mr. Shi­dan Gouran re­ports

GLOBAL BLOCKCHAIN Tech­nolo­gies Corp. will cre­ate a sub­sidiary en­tity for its en­ter­prise and ex­change ac­tiv­i­ties with a view to un­lock­ing their value through a spinout of crit­i­cal mass as­sets and merg­ing its re­main­ing me­dia and en­ter­tain­ment in­vest­ments and projects with those of X2 Games Corp.

X2 Games is an in­de­pen­dent games pub­lisher for cut­ting-edge games that in­te­grate blockchain tech­nol­ogy and cryp­tocur­rency into the user’s game ex­pe­ri­ence. Its busi­ness model is build­ing mul­ti­player gam­ing ex­pe­ri­ences, pro­vid­ing never-been-seen-be­fore de­sign and an­i­ma­tion ser­vices and in­te­grat­ing tech­nolo­gies such as aug­mented/al­ter­na­tive/vir­tual re­al­ity into video games. X2 Games uses new tech­nolo­gies to cre­ate unique game ex­pe­ri­ences for con­ven­tional and ex­per­i­men­tal plat­forms. With the in­dus­try poised to hit $138-bil­lion (U.S.) by year-end, X2 Games is po­si­tion­ing it­self to be a world leader in the next gen­er­a­tion of gam­ing.

The god­fa­ther of the video game in­dus­try, Nolan Bush­nell, cre­ated X2 Games, which is fo­cused on in­no­va­tive gam­ing tech­nolo­gies. Atari, founded over 40 years ago, gave the world the first block­buster video game. He later spear­headed the Atari 2600 con­sole, which rev­o­lu­tion­ized the home gam­ing mar­ket. The man­age­ment of X2 Games also in­cludes Zai Or­tiz, pres­i­dent, co-founder and chief creative of­fi­cer, and an ac­com­plished dig­i­tal an­i­ma­tor who cre­ated Iron Man’s Jarvis sys­tem holo­grams seen in Marvel movies.

X2 Games and Global Blockchain Tech­nolo­gies’ syn­ergy

Postac­qui­si­tion, Global Blockchain Tech­nolo­gies will be fo­cused on ap­pli­ca­tions of blockchain tech­nol­ogy to the video game, e-sports and en­ter­tain­ment in­dus­tries. It will con­tinue to work on its ex­ist­ing projects, along­side the de­vel­op­ment of X2 Games’ ex­ist­ing projects. Mr. Bush­nell will be­come the co-chair­man and chief ex­ec­u­tive of­fi­cer of Global Blockchain Tech­nolo­gies.

X2 Games pipe­line

St. Noire:

• A mys­tery-themed dig­i­tal in­ter­ac­tive board game, which uses Ama­zon’s Alexa AI to cre­ate the world and char­ac­ters that in­habit it, mean­ing no two games are ever the same; es­ti­mated pre­re­lease oc­cur­ring in De­cem­ber, 2018. Ad­di­tional dig­i­tal in­ter­ac­tive game de­vel­op­ments:

• Three ad­di­tional dig­i­tal in­ter­ac­tive Alexa games fu­elled by high con­sumer de­mand for AI-pow­ered board games for chil­dren and fam­i­lies es­ti­mated to launch in March, 2019. Spinout

Global Blockchain Tech­nolo­gies as­sets to be spun out in­clude:

1. All rights, work prod­uct and as­sets re­lated to the de­vel­op­ment of the Laser blockchain;

2. All hold­ings of Laser Tech­nolo­gies Corp. — Cayman Is­lands sub­sidiary;

3. All rights, work prod­uct and as­sets re­lated to the de­vel­op­ment of the Sin­gu­lar­ity dig­i­tal as­set and for­eign ex­change;

4. All rights and work prod­uct re­lat­ing to the busi­ness and tech­nol­ogy de­vel­op­ment of Stra­tus;

5. All rights and work prod­uct re­lat­ing to the de­vel­op­ment of any Mid­dle East­ern cryp­tocur­rency spot ex­change;

6. Blockchain Tech­nolo­gies DMCC — Dubai sub­sidiary;

7. All rights and in­ter­ests re­lat­ing to the in­vest­ment in Hype­r­ion Crypto Ex­change Inc.;

8. The agree­ment and project build­ing con­tin­u­ing with HPE;

9. The Quis­i­tive in­vest­ment. Global Blockchain Tech­nolo­gies share­hold­ers as of the Nov. 1 record date will be en­ti­tled to this spinout. The spinout will also re­ceive $2-mil­lion of Global Blockchain Tech­nolo­gies’ cash hold­ings.


Un­der the terms of the trans­ac­tion, for the ac­qui­si­tion of X2 Games, Global Blockchain Tech­nolo­gies will is­sue 330,519,541 com­mon shares is­sued at a deemed price of 15 cents per share, re­sult­ing in an ag­gre­gate pur­chase price of $49,577,931.

Ad­di­tion­ally, Global Blockchain Tech­nolo­gies will also ac­quire from Global Blockchain Min­ing Corp. its 25-per-cent in­ter­est in DISCO, in ex­change for $1.5-mil­lion of Global Blockchain Tech­nolo­gies shares is­sued at a deemed price of 15 cents per share. DISCO’s in­cum­bent agree­ments pro­vide ex­treme syn­ergy to the gam­ing plat­form that is be­ing de­vel­oped.

U.S. dol­lar trad­ing

While the com­pany trades on the Cana­dian Se­cu­ri­ties Ex­change, it cur­rently has, and an­tic­i­pates that it will con­tinue to have, a sig­nif­i­cant in­ter­na­tional fol­lower and in­vestor base. As such, the com­pany has ap­plied for ap­proval to have its shares trade in U.S. dol­lars.

We seek Safe Har­bor.

Erika Flores con­densed this news re­lease (erikaf@stock­

Peter Mor­gan McCague, Steven Ner­ay­off, Bren­dan Purdy, Jo­hannes P M van der Linde

(BLOC) Shares: 370,656,926

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.