NEW YORK, NY - (NewMediaWire) - October 26, 2015 - Global Arena Holding, Inc. (the "Company") (OTC PINK: GAHC), announced today, that the Company has officially secured, with an initial investment, six blockchain startups, five provisional patents, one non-provisional patent and the expertise of Mr. Nick Spanos, through its subsidiary's acquisition of Blockchain Technologies Corporation ("BTC").
As noted in the Company's Form 8-K Filing, GAHI Acquisition Corporation ("GAHI") has formally initiated the acquisition of BTC with an initial investment into the technology firm, solidifying the Company's entry into the Blockchain. Mr. Matthews and Nick Spanos (BTC's President), commenced this acquisition effort during the 2nd Quarter of 2015. During the 3rd Quarter, the Company secured the initial capital required to start formal execution of the Agreement and Plan of Merger between GAHI and BTC.
As a result, the Company has a tenable accumulation of up to 30% of BTC in this initial transaction, having (i) acquired a 10% stake of BTC through a cash and stock deal, and, (ii) secured a right to acquire an existing position held by a third party BTC debtholder which is convertible into an additional 20% stake of BTC. As this deal solidifies the Company's entry into the Blockchain, BTC is expected to ultimately merge with GAHI, leaving GAHI as the surviving entity.
"It is now official!" said Mr. John Matthews, CEO of the Company. "Through this deal, we have now solidified the Company's entry into the Blockchain. What makes this foray even more exciting is that Global Election Services ("GES") now has complete access to Nick Spanos and his expert knowledge of the blockchain. This gives Ms. Maralin Falik the ability to leverage the power of the blockchain, through vertical applications developed by BTC -- and enhance the rapid expansion of our election services business."
Management believes that the Company is now well positioned to make significant contributions to the ongoing development of what Marc Andreessen suggests, could be the most important invention since the Internet itself. And with BTC under its umbrella, the Company intends to leverage its new competitive advantage, "using this distributed consensus model, to influence and create vertical blockchain applications that will prove both useful to the world and lucrative to Global Arena Holding," concluded Matthews.
For a message from the CEO expanding on this opportunity, visit: http://wp.me/p6Nf5M-CX
About Blockchain Technologies Corporation
Blockchain Technologies Corporation ("BTC") is a technology company which leverages the underlying crypto technology of Bitcoin [Blockchain] and the blockchain's distributed consensus model. BTC, which acts as a seed accelerator for blockchain related opportunities, currently features six blockchain startups, five provisional patents and one non-provisional patent, specific to the crypto technology.
For more information visit: http://blockchaintechcorp.com/
About Global Arena Holding
The Company trades on the OTC Pink Sheets under the ticker symbol GAHC. The Company has been publicly traded since 2011 and holds a number of interests, including Global Elections Services, Inc. and GAHI Acquisition Corp. The Company focuses on acquiring technologies, patents and companies having the ability to leverage the blockchain crypto technology.
For more information visit: http://globalarenaholding.com
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.