Graph Blockchain Strategic Update
18 Setembro 2019 - 8:32AM
Graph Blockchain Inc. ("
Graph" or
"
Company") (
CSE: GBLC) announces
that it will not be proceeding with the previously announced
Cyberanking acquisition. In addition, Adam Morrison who joined the
Company as COO with the proposed acquisition of Cyberanking will be
resigning effective immediately in connection with the Company and
Esports Capital Corporation mutually agreeing to terminate the
working relationship.
The Board of Directors has decided to
undertake a formal review process to evaluate strategic
alternatives available to the Company (the “Strategic
Review”). Jeff Stevens, CEO and Chairman of the Company said,
“The Board’s goal is to unlock shareholder value with a view to the
best interests of Graph Blockchain and its stakeholders.”
The Company has not established a definitive
timeline to complete the Strategic Review, no decisions related to
any strategic alternative have been reached at this time and there
is no assurance that a transaction will result from the Strategic
Review. The Company does not intend to comment further with respect
to the Strategic Review unless and until it determines that
additional disclosure is appropriate in the circumstances and in
accordance with the requirements of applicable securities laws.
In addition, the Company wishes to announce
changes at the Board level. Todd Shapiro will be stepping down as
an independent director and replacing him will be Andrew Male. The
Company thanks Mr. Shapiro for his time, energy and commitment and
wishes him continued success with his various ventures.
Andrew Male is an experienced Director and
Executive Officer of international public and private Investment,
Mining and Oil & Gas companies. Currently a Director and CXO of
a Drone Services company listed on the CSE, he is also the Managing
Director of a resource based financing company and works with a
number of family offices. Also acts as an Advisor to a UK listed
Cannabis Investment Company. Specialties include: corporate
finance, M&A, turnaround and corporate transitional
implementation, start-up businesses, private to public markets
transition with financing and, TSX / TSX Venture Exchange and LSE
& AIM exchanges. Corporate experience includes: Restructuring /
turnaround of public and private market entities as well as
deploying the roll-out of operations from exploration to
production.
“It is frustrating to be in this position,
especially when our operational team has done a great job securing
world class customers and producing great products. Unfortunately,
the capital markets are not interested in Blockchain companies and
our attempts to find a complementary esports or gaming deal to
pivot the Company into that industry has not proven successful. I
am confident that working with the newly appointed board members,
we will create a successful outcome for our shareholders,” says
Jeff Stevens, CEO and Chairman of the Company.
About Graph Blockchain Inc.
The Company develops leading-edge private
blockchain business intelligence and data management solutions and
is a pure play in the graph database technology space. Graph
leverages its proprietary integration of the AgensGraph Database
engine with Hyperledger Fabric to create a transparent and
immutable ledger with near real-time transactional data processing
and intuitive data visualization. The Company has secured multiple
prototype development contracts with multi-national conglomerates
and sells across client subsidiaries as a full enterprise
product.Additional Information on the Company is available at:
www.graphblockchain.com
For further information, please
contact:
Jeffrey Stevens – CEOPhone: (416)
482-3282Email: jstevens@graphblockchain.com
Forward Looking Statements
This news release contains "forward-looking
statements" within the meaning of applicable securities laws. All
statements contained herein that are not clearly historical in
nature may constitute forward-looking statements. In some cases,
forward-looking statements can be identified by words or phrases
such as "may", "will", "expect", "likely", "should", "would",
"plan", "anticipate", "intend", "potential", "proposed",
"estimate", "believe" or the negative of these terms, or other
similar words, expressions and grammatical variations thereof, or
statements that certain events or conditions "may" or "will"
happen, or by discussions of strategy. Readers are cautioned to
consider these and other factors, uncertainties and potential
events carefully and not to put undue reliance on forward-looking
statements. Such statements may prove to be incorrect and actual
results may differ materially from those anticipated.
Forward-looking statements contained in this
news release are expressly qualified by this cautionary statement
and reflect the Company’s expectations as of the date hereof and
are subject to change thereafter. The Company undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, estimates or opinions,
future events or results or otherwise or to explain any material
difference between subsequent actual events and such
forward-looking information, except as required by applicable
law.
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