UPDATE: Blockchain Industries Accepts Binding LOI with BTHMB Holdings
ThisAmended Press Release revises clerical errors, mainly to clarify somelanguage to ensure that the reader understood the Letter of Intent implies apotential business investment rather than one that has already been executed
SANTA MONICA,CA / ACCESSWIRE / January 23, 2019 / Blockchain Industries, Inc. (“BlockchainIndustries”) (OTC PINK: BCII) today announced it has signed a binding letter of intent (the “LOI”) to accept Singapore company, BTHMB HOLDINGS Pte. Ltd., to berenamed as Blockchain Exchange Alliance (BXA), as the largest shareholder. Thecompanies anticipate turning into a single entity, becominga publicly traded cryptocurrency exchange company.BXA has agreed to place $1M USD into anescrow account as consideration for entering into the LOI which is subject todiligence review by both parties mutual agreement on certain terms including,but not limited to, valuation and the entrance into definitive transactiondocuments.
“We are thrilled to be part of thisimportant initiative thatis expected to bring liquidity, accessibility and expansion to the blockchainindustry,” said Patrick Moynihan, CEO of Blockchain Industries. “By working with BXA, we expect to bring more advanced technology and better compliance practices into thepublic marketplace via a consolidated focus.”
BXA intends to use BlockchainIndustries to market and expand their operations in North America.
“BXA is a global exchange alliance andthe United States is a key factor to any global initiative,” said Dr. Byung GunKim, CEO of BXA. “By unifying our businesses, we benefit from the focusedexpertise of Blockchain Industries. As a result, we have tremendous growthopportunities in this region, and we expect qualityresults from this in North America.”
The intention of the LOI aimsto solve problems with liquidity, accessibility and expansion that havechallenged the fast-paced and swiftly growing digital asset market. Thispotential transaction would result in a unified, more secure global exchangeplatform with a broad capability to support emerging blockchain e-commerce,payments, and other digital finance functions.
About Blockchain Industries, Inc.
Blockchain Industries, Inc. is apublicly traded merchant bank focused on the international blockchain andcryptocurrency sectors. The company is comprised of a Blockchain TechnologyAdvisory, an Investment Management arm, anda Global Conference Series (Blockchain Unbound) connecting entrepreneurs andinvestors.
For more information on BlockchainIndustries, visit http://www.blockchainind.com.
About Blockchain Exchange Alliance (BXA)
Blockchain Exchange Alliance (BXA) is a global digitalfinancial company based in Singapore. BXA is an alliance of global crypto exchanges providing liquidity toalliance members with fiat-to-crypto function. BXA provides user-friendly payment services including e-commerce, gamingand sharing economy.BXA is workingtowards launching new digital financial services including security tokenexchanges, crypto-banking, and custody services.
For more information on BXA, visit www.BXA.com.
This press release includes forward-lookingstatements within the meaning of Section 27A of the Securities Act of 1933, asamended, and Section 21E of the Securities Exchange Act of 1934, or theExchange Act. We caution readers that forward-looking statements arepredictions based on our current expectations about future events. Forwardlooking statements are generally written in the future tense and/or arepreceded by words such as “may,” “will,”“should,” “forecast,” “could,”“expect,” “suggest,” “believe,”“estimate,” “continue,” “anticipate,”“intend,” “plan,” “aim” or similar words, or thenegatives of such terms or other variations on such terms or comparableterminology. These statements are just predictions and are subject to risks anduncertainties that could cause the actual events or results to differmaterially. Any forward-looking statement made by us herein speaks only as ofthe date on which it is made. We undertake no obligation to revise or update anyforward-looking statement for any reason.
SOURCE: Blockchain Industries, Inc.