Saturday March 06, 2021
Bitcoin (BTC) $48,817.00   Ether (ETH) $1,541.73
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Featured

Blockchain company eXeBlock led by PeerPlays founder acquired with plans to go public

Published by CryptoNinjas.net
08/21/2017

It was announced today that 1040433 B.C. Ltd. entered into a Letter of Intent (LOI) dated on August 16, 2017, relating to the acquisition of private Canadian corporation eXeBlock Technology Inc. The acquisition will be achieved through a 2-for-1 exchange with all of the shareholders of eXeBlock.

eXeBlock’s current President and CEO Jonathan Baha’i was the co-founder and principal designer of PeerPlays, a blockchain technology designed to be used widely throughout the gaming industry. The principal business carried on by eXeBlock is the development and operation of blockchain software and decentralized applications (DApps).

Alexei Dulub, the lead front-end programmer in the development of PeerPlays, will be retained as a key member of eXeBlock’s senior management team. eXeBlock employs a team of blockchain programmers currently developing two blockchain apps.

PeerPlays completed its token sale this summer and this month joined the OpenLedger blockchain conglomerate. Mr. Baha’i looks eager to begin his next project.

Jonathan Baha’i is President at Peerplays Blockchain Standards Association and now CEO of eXeBlock

eXeBlock will release proof of concept and white papers outlining the operating parameters of their first app by the end of 2017, and the second in the first half of 2018.

Specifics relating to the DApps purpose, market potential, and operating protocols will remain confidential until the white paper release date.

Further, eXeBlock has plans to launch a minimum of two blockchain-based DApps per year.

The LOI includes:

  • 1040433 Ltd. will acquire all of the issued securities of eXeBlock. The intent of the parties is that all common shares of eXeBlock prior to the closing of the transaction will be exchanged for common shares of 1040433 Ltd. on the basis of two 1040433 Ltd. shares for one eXeBlock share.
  • eXeBlock currently has 19,050,000 shares outstanding with no warrants or options. Therefore, 1040433 Ltd. will issue 38,100,000 common shares to the shareholders of eXeBlock, representing approximately 87.2% of the issued and outstanding common shares of 1040433 Ltd. after the closing of the acquisition. 1040433 Ltd. currently has 5,396,000 shares outstanding and 2,500,000 share purchase warrants.
  • 1040433 Ltd. will agree to change its corporate name to eXeBlock Technology Inc. upon closing of the deal, the Board of Directors will consist of four (4) directors, comprised of three (3) nominees from eXeBlock and one (1) nominee from 1040433 Ltd.

Post-closing, eXeBlock intends to complete a non-brokered private placement:

  • The investment will be led by the Toronto-based PowerOne Capital Group and include Halifax-based Numus Capital for up to 10,000,000 common shares of eXeBlock at a price of $0.35, to raise gross proceeds of up to $3,500,000.
  • The net proceeds from the private placement will be used by eXeBlock to fund its software development.
  • In connection with the private placement, eXeBlock will pay to arm’s length finders a finder’s fee comprised of a cash fee equal to 7.5% of funds related to investments in eXeBlock and warrants representing 7.5% of the number of shares issued as introduced by finders in the private placement of eXeBlock.
  • Pending regulatory approval, eXeBlock plans to complete an initial listing on the Canadian Securities Exchange.
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

eXeBlock names new President and Chief Executive Officer
Executives and Advisers

eXeBlock names new President and Chief Executive Officer

06/25/2018
eXeBlock to begin development of bitcoin payment sidechain
Vendor Technology

eXeBlock to begin development of bitcoin payment sidechain

05/01/2018
New 50/50 fundraising app from eXeBlock set for Q2 launch
Vendor Technology

New 50/50 fundraising app from eXeBlock set for Q2 launch

04/24/2018
Load More
Read All Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

03/04/2021
Creators of crypto wallet Exodus files with SEC to allow purchase of its stock with bitcoin

Creators of crypto wallet Exodus file with SEC for $75M public offering

03/03/2021
SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

03/02/2021
Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

03/01/2021
DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

03/04/2021
Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

03/05/2021
P2P crypto escrow platform Escaroo adds staking function from Moonstake

P2P crypto escrow platform Escaroo adds staking function from Moonstake

03/05/2021
SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

03/05/2021
NFT platform Curio closes seed funding of $1.2M to fuel expansion

NFT platform Curio closes seed funding of $1.2M to fuel expansion

03/05/2021
IOTA token added as collateral asset on Bitfinex Borrow

IOTA token added as collateral asset on Bitfinex Borrow

03/05/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version