Global Blockchain Technologies plans spinout, X2 buy
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
• 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 (email@example.com).
Peter Morgan McCague, Steven Nerayoff, Brendan Purdy, Johannes P M van der Linde
(BLOC) Shares: 370,656,926