Toronto, Ontario–(Newsfile Corp. – February 20, 2018) – Gunpowder Capital Corp., (CSE: GPC), (CSE: GPC.PR.A), (OTCQB: GNPWF), (FSE: YS6N), (“Gunpowder” or the “Corporation”) announced today that it has participated in Bitblox Technologies Inc.’s (“Bitblox”) recently completed second round non-brokered Token Unit financing which was sold directly by Bitblox to accredited investors. Each Token Unit consists of one Token and one common share purchase warrant, which is automatically exerciseable for no additional consideration into one common share of Bitblox immediately prior to a liquidity event of Bitblox. The Token also has the right, on a pro-rata basis, to participate in Bitblox’s profit sharing program, which can reach up to thirty-five percent (35%) of the quarterly profit of Bitblox as determined by Bitblox’s Board of Directors
Gunpowder purchased 1,000,000 Token Units at price of $0.10 CDN per Token Unit for a total commitment of $100,000.00 CDN. BitBlox raised a total of $419,350.00 CDN in its second round.
Mr. Paul Haber Stated: “Cryptocurrencies are perhaps the most exciting sector in the markets today and we are extremely pleased in having the opportunity to increase our investment with BitBlox Technologies Inc. While there will continue to be corrections and unnerving gyrations in the cryptocurrency space, despite the recent pullbacks, we at GPC, believe that the future remains bright for cryptocurrencies. The late 1990s hype that led to the original dot-com bubble and subsequent burst did not signal the end the internet. At that point we could scarcely imagine what mainstream adoption of the internet would look like; the social and mobile revolutions were still years off. Silicon Valley didn’t go anywhere. Instead, it was back and bigger than ever within a decade. We feel the same will hold true for cryptocurrencies.”
About Bitblox Technologies Inc.
Bitblox Technologies Inc. is building a high value cryptocurrency enterprise. Bitblox mines cryptocurrencies, such as Ether and ZCash, and offers value-added technology services for the cryptocurrency market, such as crypto-mining proprietary software.
Offering a complete ecosystem of value-creation, Bitblox cryptocurrency mining will provide the basis for an innovative token product that is monetized according to mining profit margins. A percentage of these profits will be invested in the development of a proprietary Artificial Intelligence (“AI”) based technology. Overall, Bitblox takes an approach that enables the company to scale, and respond to changing conditions, within the still-emerging cryptocurrency industry.
Part of a wave of emerging technologies, cryptocurrencies are indivisible from a new virtual economy that is powered in part by smart contract and other AI-based integrations. Cryptocurrency and value mining are central to this new paradigm. Taking a robust and diversified business approach, Bitblox Technologies Inc. is poised to capture value in successive phases as this industry continues to scale. For more information please visit: www.bitbloxtechnologies.com
About Gunpowder Capital Corp.
Gunpowder Capital Corp., is a merchant bank and advisory services firm based in Toronto, Ontario, Canada. Gunpowder invests in both publicly traded and private businesses that have successful management teams and attractive economic models. Gunpowder partners with these businesses to support their growth initiatives with its proven methodology of appropriate financing and structured exits. Gunpowder offers debt financing, including mezzanine and bridge loans, equity financing and advisory services. Gunpowder is also building a portfolio of companies in which it takes a long term position and view. For more information please visit www.gunpowdercapitalcorp.com
For further information please contact:
Mr. Frank Kordy
CEO & Director
Gunpowder Capital Corp.
T: (647) 466-4037
E: [email protected]
Mr. Paul Haber
Gunpowder Capital Corp.
T: (416) 363-3833
E: [email protected]
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.