Blockchain Venture Capital Inc. Receives Final Approval for Listing and Announces Commencement of Trading on the Canadian Stock Exchange
TORONTO, 10 August 2022 /CNW/ – Blockchain Venture Capital Inc. (the “Company“or”BVCI“) is pleased to announce that it has received final approval for listing from the Canadian Securities Exchange (the “CSE“). The common stock of the Company will begin trading on the CSE under the symbol “BVCI” at market opening on 12 August 2022.
The public listing of the company follows the successful completion of the reverse takeover with Flexwork Properties Ltd. (formerly Reliant Gold Corp.) in a merger. Upon listing, the company will have outstanding 25,699,179 ordinary shares on an undiluted basis and 26,613,797 on a fully diluted basis. For more information about the Company, please see its final listing statement available by accessing the Company’s profile on SEDAR, at www.sedar.com.
“We couldn’t be more excited to begin trading on the Canadian Stock Exchange,” Richard Zhou CEO of BVCI said. “Over the past year, we have achieved significant milestones in advancing our projects and relationships with third-party service providers who will help us market our products, and our team will continue to work tirelessly to build, develop and grow the business ours. I would also like to take this opportunity to thank our shareholders, board of directors, colleagues, engineers, advisors and business partners, without whose tireless support over the past four years we could not have achieved such great success!”
About the company
BVCI is one Ontario founded company, and is registered as a money service business with the Financial Transaction and Reports Analysis Center of Canada (FINTRAC). It is a provider of an innovative technology infrastructure to participants in the emerging blockchain and distributed ledger technology industry. Instrumental to BVCI’s business and growth strategy is BVC Chain, a proprietary blockchain platform and distributed ledger technology, which can act as a centralized or decentralized ledger. BVC Chain was designed to be a turnkey solution, which can be customized and implemented by organizations looking to deploy blockchain platform-based solutions, products or services. BVC Chain will also act as the platform and infrastructure for BvcPay and CADT. BvcPay is a cloud-based mobile application that is intended to have the ability to function as a digital currency wallet and can facilitate point-of-sale and online transactions using Bitcoin, Ethereum and CADT. CADT is the original digital currency of the BVC chain and it is intended to be a stable coin. BVCI’s CADT business division is expected to issue CADT, a cryptographically stable coin that is backed on a 1:1 basis with an equivalent amount of Canadian dollars in a custodial account. CADT is expected to support real-time pricing, payment, settlement, digital asset issuance and ledger functions.
To allow BVCI to carry out its CADT-related activities, BVCI submitted an application on 17 June 2021 to obtain registration as an exempt market dealer in accordance with applicable securities legislation i Ontario, Albertaand British Columbia. Such an application is being processed, and there is no guarantee that BVCI will receive such a registration. Unless and until the Company is registered under applicable securities laws for the purpose of conducting its CADT-related business, or the Company is otherwise satisfied that it can conduct such business in compliance with all applicable securities laws, it intends to obtain all of its CADT trading to happen. through a dealer (via the BVC chain) registered in a registration category under applicable securities laws that allows CADT to be traded through it, which dealer arrangement is subject to termination. Accordingly, there is no assurance that BVCI will be able to continue its proposed CADT business or any related BvcPay business that relies on CADT.
Investors are cautioned that, except as disclosed in the listing statement of the company, any information released or received in connection with the listing may not be accurate or complete and should not be relied upon. Trading in the company’s securities should be considered highly speculative.
Forward-looking information and statements
Certain statements in this press release may constitute “forward-looking” statements that involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements of the Company or the industry in which it operates to differ materially from any future results, performance or performance expressed or implied by such forward-looking statements. When used in this press release, the words “estimate”, “believe”, “anticipate”, “anticipate”, “anticipate”, “plan”, “may”, “should”, “will”, the negative thereof or otherwise variations on these or comparable terminologies are intended to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements related to: trading on the CSE and the company’s business plans and strategies, including the development of BvcPay and CADT and the use of a registered dealer. Such statements reflect the current expectations of the company’s management with respect to future events based on available information and are based on certain assumptions and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed. or implied by these forward-looking statements, including the assumptions and risks associated with the Company obtaining registration as an exempt market dealer or implementing its arrangement with a registered dealer. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading “Risk Factors”, in the Company’s listing statement, which will be available at www.sedar.com., and in other ongoing disclosure documents filed by the Company from time to time to another to Ontario, Alberta or the British Columbia Securities Commissions which are available at www.sedar.com and to which readers of this press release are referred for additional information about the Company, its prospects and the risks and uncertainties associated with the Company and its prospects. New risk factors may arise from time to time, and it is not possible for management to predict all of these risk factors or the extent to which any factor or combination of factors may cause the company’s actual results, performance and achievements to differ materially from those found in forward-looking statements. Although the forward-looking statements in this press release are based on what management believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent, and investors should not rely on forward-looking statements as a prediction of actual results. results.
The forward-looking information in this press release is only valid as of the date here. The Company does not assume or assume any obligation, except as required by law, to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseeable events.
No securities commission or regulatory authority has approved or disapproved the content of this press release.
Neither the Canadian Stock Exchange nor its Regulatory Services Provider (as that term is defined in the Canadian Stock Exchange Policy) accepts responsibility for the adequacy or accuracy of this release, nor has it approved or disapproved of its content.
SOURCE Blockchain Venture Capital Inc.
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