Block One Capital’s investee OMAAT plans US$2M raise at US$10M valuation with affiliate of Consensys
08 August 2018 - 9:05AM
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION
TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED
STATES
Block One Capital Inc. (TSXV: BLOK, OTCQB: BKPPF, Frankfurt: ES3)
(the “Company” or “Block One”), an investment company focused on
early stage and high growth opportunities in the blockchain sector,
is pleased to provide the following corporate update.
OMAAT (One Meter at a Time)
The first half of 2018 showed tremendous progress in partnership
deals and technology development for OMAAT. The Dance for One
Meter (D41M) initiative is being received with enthusiasm in the
live events industry on a global level. D41M has signed
agreements with three large scale clubbing and event promoters in
multiple territories (Ushuaia Ibiza-Europe, RPM Presents-New York,
RMD Group-San Diego). D41M is expected to be operational on
approximately 360 individual events this year.
In July 2018, OMAAT entered into an agreement with Token Foundry
Securities LLC (an affiliate of ConsenSys) to undertake an equity
offering of up to US$2,000,000 at an anticipated US$10,000,000
pre-money valuation. Block Capital plans to participate in this
capital raise for an additional investment of US$300,000.
Block One believes its investment in OMAAT reflects strong value
creation for its shareholders as the original USD$500,000
participation is now valued at close to USD $2,5000,000, reflecting
a return of nearly 5 times on its original investment.
OMAAT has joined ConsenSys Blockchain Social Impact Coalition
and was an invited participant in the Token Foundry European road
show. OMMAT has also entered into an agreement to have Token
Foundry develop, market and launch OMAAT’s ERC-721 non-fungible
Rainforest Game Token.
OMAAT is specialized in developing technologies and
infrastructure to help save and protect endangered lands by the
gamification of online conservation efforts, achieved by using a
patented virtual grid system and tokenization method, one square
meter at a time. Revenue streams are generated by token sales,
product licensing, global event and festival sponsorship
opportunities and creation and management of corporate social
responsibility services for medium to large enterprises. The
technology can also be licensed to tokenize real estate and
development projects.
For more information on Block One please visit
the Company’s website at: www.blockonecap.com.
“Sothi Thillairajah”Chief Executive Officer
Forward-Looking Statements
This news release contains forward-looking
statements that are based on the Company’s expectations, estimates
and projections regarding its business and the economic environment
in which it operates, including with respect to the prospects of
developing a formal agreement with a leading provider of risk
management software and a residential whole loan exchange; the
prospects of developing formal arrangements with additional housing
GSEs, including those involved in the US residential mortgage
market, and a European headquartered international financial
management company; and Shopin's business plans and ability to
expand awareness of its business. Although Block One believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and involve risks and uncertainties that are
difficult to control or predict. Therefore, actual outcomes and
results may differ materially from those expressed in these
forward-looking statements and readers should not place undue
reliance on such statements. Factors that could cause actual
results to differ materially from those in forward-looking
statements include general economic, market or business conditions,
including the general acceptability of blockchain, risks associated
with regulatory changes, availability of personnel, materials and
equipment on a timely basis, accidents or equipment breakdowns,
uninsured risks and receipt of necessary TSX Venture Exchange
approvals. These forward-looking statements speak only as of the
date on which they are made, and the Company undertakes no
obligation to update them publicly to reflect new information or
the occurrence of future events or circumstances, unless otherwise
required to do so by law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
FOR ADDITIONAL INFORMATION CONTACT: Block One Capital
Inc.Office: 604-398-4485;
email: info@blockonecap.com
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