HyperBlock and CryptoGlobal Shareholders Vote in Favour of Acquisition
HyperBlock and CryptoGlobal Shareholders Vote in Favour of Acquisition |
[22-June-2018] |
TORONTO, June 22, 2018 /CNW/ - Shareholders of HyperBlock and CryptoGlobal (TSXV: CPTO) today voted in favour of a proposed acquisition that will create one of North America's largest and most efficient crypto leaders. "Clearly, shareholders support and share our belief in a diversified crypto innovator that's dedicated to helping people and businesses create, safeguard, manage and grow crypto," explains HyperBlock CEO Sean Walsh. Walsh says the newly combined company is poised to scale quickly through organic growth and acquisitions. Shareholder Vote to Support Acquisition At the CryptoGlobal meeting, a special resolution authorizing the Arrangement (the "CryptoGlobal Arrangement Resolution") was approved by approximately 99.73% of CryptoGlobal shareholders who participated in the vote — either in-person or by proxy. The CryptoGlobal shareholders who participated in the vote represented approximately 71% of all issued and outstanding CryptoGlobal shares entitled to vote on the CryptoGlobal Arrangement Resolution. At the HyperBlock meeting, a special resolution authorizing the Arrangement was approved by 100% of HyperBlock shareholders who participated in the vote — either in-person or by proxy. Acquisition Arrangement Update Further details regarding the Arrangement are set out in the joint management information circular of HyperBlock and CryptoGlobal dated May 22, 2018 (the "Circular"), which is available under CryptoGlobal's issuer profile on SEDAR at www.sedar.com. Proposed Acquisition Background About HyperBlock Technologies Corp. and CryptoGlobal CryptoGlobal is a leading Canadian blockchain and financial technology company built on a strong core of diversified cryptocurrency mining. Currently, CryptoGlobal focuses on mining Bitcoin, DASH, Ether and Litecoin — using a mix of custom-tuned mining technologies. Learn more at www.cryptoglobal.io Cautionary Note Regarding Forward Looking Information In particular, there can be no assurance that the Arrangement will be completed. Forward looking statements are based on certain assumptions regarding CryptoGlobal, HyperBlock and the resulting combined company, including expected growth, results of operations, performance, industry trends and growth opportunities. While CryptoGlobal considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements also necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; future legislative and regulatory developments involving cryptocurrency; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cryptocurrency industry in Canada generally, income tax and regulatory matters; the ability of HyperBlock to implement its business strategies; competition; currency and interest rate fluctuations and other risks. Any forward-looking statements or facts (including financial information) related to CryptoGlobal discussed or disclosed herein are derived from information obtained directly from CryptoGlobal and publicly available sources and has not been independently verified by CryptoGlobal. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, 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 our expectations as of the date hereof, and thus are subject to change thereafter. CryptoGlobal and HyperBlock disclaim 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 required by law. This news release has been approved by the Board of Directors of each of HyperBlock and CryptoGlobal. Factors that could cause anticipated opportunities and actual results to differ materially include, but are not limited to, matters referred to above and elsewhere in CryptoGlobal's fiscal 2017 annual MD&A, the Circular and the material change report filed that will be filed in respect of the Arrangement, which are, or will be, available on CryptoGlobal's profile on www.sedar.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein. This news release is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. SOURCE CryptoGlobal Corp. | ||
Company Codes: TorontoVE:CPTO |
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