Connect with us
Prague Gaming & TECH Summit 2024

Fintech PR

Graph Blockchain Completes Acquisition of Babbage Mining

Published

on

Reading Time: 4 minutes

Toronto, Ontario–(Newsfile Corp. – February 17, 2021) – Graph Blockchain Inc. (CSE: GBLC) (the Company or Graphis pleased to announce that further to its press release dated January 26, 2021 that it has closed its acquisition of 100% of Babbage Mining Corp.’s (“Babbage“) issued and outstanding securities (the “Transaction“), pursuant to terms of the share exchange agreement entered into between the Company, Babbage, and the shareholders of Babbage (the “Babbage Shareholders“) effective January 25, 2021 (the “Definitive Agreement“). Babbage is an arm’s length private corporation incorporated under the laws of Ontario.

Terms of the Transaction

Pursuant to the Definitive Agreement, the Company issued 60,000,000 units of the Company (“Payment Units“) comprised of one common share in the capital of the Company (a “Common Share“) and one Common Share purchase warrant (a “Warrant“) to the Babbage Shareholders on a pro rata basis at a deemed price of $0.08 per Payment Unit for an aggregate purchase price of $4,800,000. Each Warrant is exercisable into one Common Share at a price of $0.10 per Common Share for a period of up to eighteen (18) months, subject to the Company’s exercise of an Acceleration Right (as defined herein). The Warrants are subject to an acceleration clause whereby if the Common Share price on the Canadian Securities Exchange (the “CSE“) is equal to or greater than $0.15 per Common Share for a period of ten (10) consecutive trading days, the Company may, by notice to the holders of the Warrants, reduce the remaining exercise period applicable to the Warrants to no less than 30 days from the date of such notice (the “Acceleration Right“).

No finder’s fee was payable in connection with the Transaction.

“The acquisition of Babbage will help position Graph in the evolving and rapidly expanding cryptocurrency space. According to website Coindesk.com, Bitcoin as a cryptocurrency has a market cap of CDN $1.17 trillion, has increased from a price of around $437 in February 2016 to over $49,400 today, a 11,746% increase. Graph now has a platform in Altcoin for employing blockchain transactions through crypto mining, related payments on blockchain, and a variety of subsequent support services. We look forward to growing Graph organically and through other viable acquisitions in the crypto space,” said Andrew Ryu, CEO of Graph, with respect to the closing of the Transaction.

Operations of Babbage Upon Completion of the Transaction

Babbage intends to develop a best-in-class cryptocurrency miner with the objective to generate revenue through Proof of Stake (“POS”) mining for tokens, with the ultimate aim of giving its shareholders exposure to the most disruptive cryptocurrencies with the potential upside in the market such as Layer 2 Scaling, which improve transaction speed and transaction throughput, and Decentralized Finance (“DeFi”) protocols. DeFi is the movement that leverages decentralized networks to transform old financial products into trustless and transparent protocols that run without intermediaries, and instead utilizes smart contracts on blockchains.

Babbage also intends to invest its capital directly into cryptocurrency tokens where the network is instructed to use it towards POS mining. This process returns the staker with additional tokens while providing exposure to the potential price appreciation of the cryptocurrency being mined.

With blockchain and its decentralized ledger, Graph recognizes how alternative cryptocurrency platforms offer disruptive potential that can structure data in everything from Supply Chain Management to DeFi, enabling the way in which businesses operate and transact with each other. Babbage will be using POS mining to earn returns and gain exposure to the cryptocurrencies with the greatest potential return on investment.

About Babbage Mining Corp.

Babbage is an early stage company, which will be focusing on Altcoins, alternative cryptocurrencies to Bitcoin. By mining Altcoins through Proof of Work and Proof of Stake, Babbage is able to give its investors exposure to the vast emerging market of cryptocurrencies with the significant technological disruption and potential gains that Altcoins represent.

Additional Information on the Company is available at: www.babbagemining.com

About Graph Blockchain Inc.

The Company is a blockchain development company that provides high performance blockchain solutions that include graphic data analysis and consulting services, implementation of data mining analysis through the use of graph databases and speed enhancements of blockchain control systems for businesses and government. This includes the medical industry, including the provision of solutions to provide secure and managed e-commerce blockchain enabled transactions on the companies BluStem Wellness Platform. Additional Information on the Company is available at: www.graphblockchain.com.

For further information, please contact:

Jamie Hyland
Phone :604.442.2425
Email : [email protected]

NONE OF THE SECURITIES TO BE ISSUED PURSUANT TO THE TRANSACTION HAVE BEEN OR WILL BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND ANY SECURITIES ISSUED PURSUANT TO THE TRANSACTION ARE ANTICIPATED TO BE ISSUED IN RELIANCE UPON AVAILABLE EXEMPTIONS FROM SUCH REGISTRATION REQUIREMENTS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. In particular, forward-looking information in this press release includes, but is not limited to, the general adoption of blockchain technology, the growth of the alt-coin and cryptocurrency industries, and the integration of Babbage’s business with the Company’s current businesses. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things: the growth of the cryptocurrency industry, the ability of the Company to successfully integrate its business with Babbage’s business, and management’s ability to successfully execute its strategy. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.

Additionally, there are known and unknown risk factors which could cause the Company and Babbage’s actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Risk factors include but are not limited to, business disruption risks relating to COVID-19; regulatory risks, including those related to cryptocurrency, alto-coins, blockchain technology, privacy, and data security; and integration risks relating to the acquired business on a post-closing basis. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company and Babbage disclaim any obligation to revise or update any such forward-looking information or to publicly announce, the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

###

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74733

Powered by WPeMatico

Fintech PR

Sleep interiors brand gets job offer from Peter Jones despite not securing investment in Dragons Den

Published

on

sleep-interiors-brand-gets-job-offer-from-peter-jones-despite-not-securing-investment-in-dragons-den

LONDON, March 29, 2024 /PRNewswire/ — Tonight on BBC1, REMY founder Abeer Iqbal, entered the Den, and despite intense grilling and no investment, left with a six-figure job offer from Peter Jones

Abeer’s pitch began with the Dragon’s keen to experience his sleep-enhancing furniture. When Steven and Peter laid on his hero  ‘The Pod’, a reinvention of the beanbag, and under REMY’s best-selling ‘The Lounger’ weighted blankets, the dragons closed their eyes and pretended to snore. Which was ironic, as despite being told he’d enter the Den around 5pm, Abeer actually went in at 9.30pm, after the dragons had been receiving pitches since early that day, which to Abeer’s own admission “wasn’t easy”. Deborah Meaden said, “This might have been a fatal mistake to put your dragons to sleep before we start the pitch” – recognising that it had been a long day.

After 10+ years working in tech, helping multi-million pound businesses grow their empire at software giants like Shopify, Abeer experienced burn-out, which led him to develop REMY. Despite Abeer telling the dragons that he left the high-pressure industry due to stress and anxiety Peter Jones still offered him a job back in the rat race with a six-figure sum (which he still hasn’t taken). 

After leaving the Den, Abeer admitted feeling the “most anxious ever” and that he “just wanted to get back to his wife for a hug”.  Abeer shared, “I didn’t sleep for days, replaying every moment in my mind. I wanted to forget it.” But it’s not all bad, as Abeer explains, “the anxiety I experienced from the Den gave me a lightbulb moment and led me to create our most popular product yet – The Hugger Pillow. I needed a hug, so I created one”. 

Abeer continues, “I returned the next day to collect my items from the studio. I bumped into a fresh-faced Peter and Toukar in the carpark, they both praised my experience, Peter once again offered me a job and Toukar asked me to call him when I start the next business.”

The global ‘sleep economy’ is booming, projected to reach a record high of $585 billion this year. But Abeer felt he was unable to communicate this, “If I could have my time again, I would focus on the industry of Rest and Sleep rather than the specific products we were trying to innovate. I don’t think I articulated to the Dragon’s the size of the business opportunity that there is with REMY. In terms of what’s next, we are moving towards becoming a household name in rest and sleep but offering products in multiple categories.”

The Dragon that seemed to understand Abeer’s passion for this industry was Sara Davies, saying “I actually fundamentally don’t agree with what I’ve heard here. What I see in front of me, yes he is great at the e-commerce side of things but he gave up a career in corporate because he was passionate about this area. And if there’s one thing I know about business it’s that you will succeed when you pursue the thing you are passionate about. I wouldn’t discourage you to give up. Keep doing it and good luck. I think you could sell anything”.

You can watch Abeer Iqbal on Dragons’ Den on BBC iPlayer.

remysleep.com / @WEAREREMY

Photo – https://mma.prnewswire.com/media/2374872/REMY_Sleep_1.jpg

Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/sleep-interiors-brand-gets-job-offer-from-peter-jones-despite-not-securing-investment-in-dragons-den-302103201.html

Continue Reading

Fintech PR

Bitrue Coin (BTR) Analyzes User Behavior and Announces Upcoming Developments to Enhance Utility

Published

on

bitrue-coin-(btr)-analyzes-user-behavior-and-announces-upcoming-developments-to-enhance-utility

SINGAPORE, March 29, 2024 /PRNewswire/ — Bitrue, a leading cryptocurrency exchange serving over 10 million users globally, announces a focus on user behavior analysis to further develop the utility of its native token, Bitrue Coin (BTR).

“Understanding how our users interact with BTR is crucial for its continued growth,” states Robert Quartly-Janeiro, Chief Strategy Officer of Bitrue. “This analysis will guide upcoming developments that enhance the value proposition of BTR within the Bitrue ecosystem.”

The announcement follows a recent surge in interest surrounding exchange tokens, and digital assets used to pay for services to unlock benefits within specific cryptocurrency exchanges. Currently, BTR offers a compelling range of benefits to Bitrue users, including:

  • Reduced Trading Fees: BTR holders enjoy lower trading fees on the Bitrue exchange, incentivizing active participation in the platform’s marketplace.
  • Governance Voting Rights: BTR grants voting rights on select new listings, allowing users to influence the direction of the Bitrue platform.
  • Staking Opportunities: BTR holders can stake their tokens to earn passive rewards, providing an additional avenue for generating income within the Bitrue ecosystem.
  • Exclusive Airdrop Potential: BTR holders may be eligible for airdrops of new tokens listed on the Bitrue exchange, offering the chance to discover promising crypto projects early.
  • VIP Investment Caps: BTR unlocks higher investment caps for certain cryptocurrencies on the Bitrue platform, catering to high-volume investors.

“BTR already plays a multifaceted role in the Bitrue experience,” Quarterly-Janeiro continues. “By strategically expanding its utility based on user behavior analysis, we aim to solidify BTR’s position within the exchange token market and elevate its value proposition for our user base.”

The specific developments based on user behavior analysis are not disclosed at this time. However, Bitrue assures its users of continued transparency and will share details in due course.

Media Contact: Lily Ho, [email protected]

View original content:https://www.prnewswire.co.uk/news-releases/bitrue-coin-btr-analyzes-user-behavior-and-announces-upcoming-developments-to-enhance-utility-302103427.html

Continue Reading

Fintech PR

Affordability, customisation and convenience: Term plans from India become more attractive and accessible for NRIs

Published

on

affordability,-customisation-and-convenience:-term-plans-from-india-become-more-attractive-and-accessible-for-nris

Term insurance from India emerges as preferred choice for NRIs seeking affordability and convenience

DUBAI, UAE, March 29, 2024 /PRNewswire/ — Policybazaar, India’s leading online insurance marketplace, is witnessing a significant increase in non-resident Indians (NRIs) choosing term insurance from India via its platform. This surge is driven by the unparalleled ease, affordability and accessibility offered by the Indian insurance market. While several factors contribute to the growing interest in term insurance in India, affordability and convenience stand out as primary reasons. The demand among the 18-60 age group has seen an impressive 130% year-on-year growth, with India emerging as the preferred choice for NRIs.

The surge in demand from NRIs can be credited to several standout features and benefits. Term policies from India cost up to 30-50% less for NRIs residing in the UAE and Singapore. Additionally, policies with coverage of up to INR 5 crores can be easily obtained with tele-medical check-ups from India, eliminating the need for physical visits. Unlike some countries with restricted policy terms and coverage, Indian term plans offer coverage for longer duration, extending up to 99 years.

Sarbvir Singh, Joint Group CEO, Policybazaar, states, “We are witnessing exponential growth in term insurance purchases from NRIs, particularly from the Gulf nations and Singapore. Policybazaar has focused its efforts on expanding term insurance protection in both Indian and overseas markets. The unmatched benefits offered by India, including competitive pricing, larger covers, and streamlined processing through video/tele medicals, are significant contributors to this demand. It is heartening to see NRIs realizing the importance of securing their dependents’ future and choosing Indian term insurance policies.”

Term Insurance for a 35 year old male, non-smoker
Policy term – 30 years

Country

India

UAE

Cover Amount

INR 2 Cr / AED 881 K

AED 900 K

Max Cover Upto

99 years

80 years

Premium in AED

AED 977.8

AED 1,539

Premium in INR

INR 22,193.00

INR 34,892.00

Free Add-ons

Early Payout on Terminal Illness + Waiver of Premium

Price Benefit

36% cheaper in India

Source: Policybazaar.com

NRIs are also eligible for 18% GST exemption* upon purchasing term insurance plans from India, when paying via their NRE accounts. This attractive pricing, along with the availability of longer-term plans, has led to a rise in demand among NRIs, especially from Gulf nations, where 65% of term insurance buyers hail from, with the UAE alone contributing 35%.

Rhishabh Garg, Head of Term Insurance at Policybazaar, adds, “The evolution in the Indian term insurance industry is marked by innovative offerings designed to meet the distinct needs of consumers overseas. The consumer-centric features in term plans from India are increasingly appealing to NRIs, which include return of premium at no extra cost, early pay-outs for terminal illness, premium waivers for permanent disability, and immediate pay-out of up to INR 2 lakhs on claim intimation for immediate obituary expenses.”

The accessibility of these plans is further enhanced through seamless processing for NRIs, whose average annual income exceeds INR 35 lakhs. Insurers now also offer a sum assured of up to 5 crores, ensuring adequate coverage based on Human Life Value (HLV) calculations. NRIs can also leverage Policybazaar’s search and comparison engine to browse the best suitable plans as per their needs and preferences.

With a commitment to providing comprehensive coverage and protection, Policybazaar continues to redefine the landscape of term insurance for NRIs, empowering them to secure their loved one’s future with peace of mind. As NRIs continue to seek comprehensive coverage and value-driven solutions, Policybazaar remains dedicated to delivering innovative term insurance products and services tailored to their evolving needs.

*Tax benefits are subject to change in tax laws

About Policybazaar.com

Policybazaar.com is one of India’s largest insurance marketplace. It is the flagship platform of PB Fintech, which owns the fintech brand, Paisabazaar.com, and lending & insurance marketplace in the UAE region, Policybazaar.ae. Policybazaar.com started with the purpose to educate people on insurance products and with its offerings has addressed the large and highly underpenetrated online insurance markets.

Logo: https://mma.prnewswire.com/media/2375092/Policybazaar_Logo.jpg

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/affordability-customisation-and-convenience-term-plans-from-india-become-more-attractive-and-accessible-for-nris-302103411.html

Continue Reading

Trending