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8-K/A - PRIMARY DOCUMENT - Blockchain Industries, Inc. | bcii_bxa8ka.htm |
Exhibit
99.1
UPDATE: Blockchain Industries Accepts Binding LOI
with BTHMB Holdings
This Amended Press Release revises clerical errors, mainly to
clarify some language to ensure that the reader understood the
Letter of Intent implies a potential business investment rather
than one that has already been executed
SANTA MONICA, CA / ACCESSWIRE / January 23, 2019 /
Blockchain Industries, Inc. ("Blockchain Industries") (OTC PINK:
BCII) today announced it has signed a binding letter of intent (the
"LOI") to accept Singapore company, BTHMB HOLDINGS Pte. Ltd., to be
renamed as Blockchain Exchange Alliance (BXA), as the largest
shareholder. The companies anticipate turning into a single entity,
becoming a publicly traded cryptocurrency exchange company. BXA has
agreed to place $1M USD into an escrow account as consideration for
entering into the LOI which is subject to diligence review by both
parties mutual agreement on certain terms including, but not
limited to, valuation and the entrance into definitive transaction
documents.
"We are
thrilled to be part of this important initiative that is expected
to bring liquidity, accessibility and expansion to the blockchain
industry," said Patrick Moynihan, CEO of Blockchain Industries. "By
working with BXA, we expect to bring more advanced technology and
better compliance practices into the public marketplace via a
consolidated focus."
BXA
intends to use Blockchain Industries to market and expand their
operations in North America.
"BXA is
a global exchange alliance and the United States is a key factor to
any global initiative," said Dr. Byung Gun Kim, CEO of BXA. "By
unifying our businesses, we benefit from the focused expertise of
Blockchain Industries. As a result, we have tremendous growth
opportunities in this region, and we expect quality results from
this in North America."
The
intention of the LOI aims to solve problems with liquidity,
accessibility and expansion that have challenged the fast-paced and
swiftly growing digital asset market. This potential transaction
would result in a unified, more secure global exchange platform
with a broad capability to support emerging blockchain e-commerce,
payments, and other digital finance functions.
About Blockchain Industries, Inc.
Blockchain
Industries, Inc. is a publicly traded merchant bank focused on the
international blockchain and cryptocurrency sectors. The company is
comprised of a Blockchain Technology Advisory, an Investment
Management arm, and a Global Conference Series (Blockchain Unbound)
connecting entrepreneurs and investors.
For
more information on Blockchain Industries, visit http://www.blockchainind.com.
About Blockchain Exchange Alliance (BXA)
Blockchain
Exchange Alliance (BXA) is a global digital financial company based
in Singapore. BXA is an alliance of global crypto exchanges
providing liquidity to alliance members with fiat-to-crypto
function. BXA provides user-friendly payment services including
e-commerce, gaming and sharing economy. BXA is working towards
launching new digital financial services including security token
exchanges, crypto-banking, and custody services.
For
more information on BXA, visit www.BXA.com.
Forward-Looking Statements
This press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, or the
Exchange Act. We caution readers that forward-looking statements
are predictions based on our current expectations about future
events. Forward looking statements are generally written in the
future tense and/or are preceded by words such as "may," "will,"
"should," "forecast," "could," "expect," "suggest," "believe,"
"estimate," "continue," "anticipate," "intend," "plan," "aim" or
similar words, or the negatives of such terms or other variations
on such terms or comparable terminology. These statements are just
predictions and are subject to risks and uncertainties that could
cause the actual events or results to differ materially. Any
forward-looking statement made by us herein speaks only as of the
date on which it is made. We undertake no obligation to revise or
update any forward-looking statement for any reason.
SOURCE: Blockchain Industries, Inc.