VANCOUVER, BC / ACCESSWIRE / October 16, 2017 / 360 Blockchain Inc. ("360" or the "Company") (CNSX: CODE, FSE: C5B), announces that it has closed its previously announced non-brokered private placement of 24,999,998 units of the Company ("Units") at a price of $0.06 per Unit for aggregate gross proceeds of $1,500,000 (the "Private Placement").
Each Unit is comprised of one common share in the capital of 360 ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant will be exercisable for one Common Share at a price of $0.10 per share for a period of 24 months from the date of closing of the Private Placement. The Company paid qualified finders commissions of $58,761.59 in cash and 979,360 finder's warrants. The proceeds of the Private Placement will be used for general corporate purposes including funding its current operations and supporting ongoing investigations of potential business opportunities.
Securities issued under the Private Placement are subject to trading restrictions until February 17, 2018.
Our Mission:
To empower blockchain technologies with capital and experience to create exponential value.
Company Description:
360 Blockchain Inc. takes an all-round view to the acceleration of the development and application of revolutionary blockchain technologies by investing capital and expertise. The Company believes that blockchain technology, essentially a distributed ledger which is transparent and incorruptible, has the potential to transform the way business is conducted, delivering security, cost savings and efficiency gains not seen before in the internet connected world. 360 Blockchain will be focused upon identifying and empowering blockchain technologies applying to crypto-currencies, smart contracts, eSports, data management, the internet of things, equity trading, privacy applications and beyond.
For further information, please contact:
George Tsafalas
President
Telephone: 604-343-2977
E-mail: corporate@360capital.com
This release is not an offer of securities of the Company for sale in the United States. The Common Shares and Warrants of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and the Common Shares and Warrants may not be offered or sold in the United States except pursuant to an applicable exemption from such registration. No public offering of securities is being made in the United States.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "predicts," "intends," "targets," "aims," "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may," "could," "should," "would," "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: 360 Blockchain Inc.
