Graph Blockchain Inc. (“
Graph” or
“
Company”) (
CSE: GBLC) is pleased
to announce the Company has signed a binding Letter of Intent
(“
LOI”) to acquire (the
“Proposed
Acquisition”) Cyberanking Ltd.
(
“Cyberanking”) for an aggregate purchase price of
$1,500,000 CAD payable through the issuance of common shares in the
capital of the Company at a deemed price of $0.05 per share.
Pursuant to the terms of the LOI, there is provision for two
additional bonus payments of $500,000 CAD in common shares, subject
to the achievement of certain financing and revenue milestones to
be set out in the definitive agreement to be negotiated.
The Proposed Acquisition is in line with the
Company’s objectives to expand into different industry verticals
which can adopt its existing technology. In this regard, on May 27,
2019 the Company announced hiring Esports Capital Corp. to assist
in identifying esports and gaming opportunities that would
complement the Company’s core technology while at the same time
diversify the company by generating a new revenue stream. The
esports industry represents a global opportunity that is growing at
a tremendous pace. The need for skills based mental and physical
health programs to ensure peak performance of the players is as
critical to esports as it is to traditional sports.
Cyberanking is a gamified Learning Management
System company focused on the esports industry. Its core technology
and platform focuses on aspects of mental and physical health,
cognition, and improvement of practical skills within the
competitive vertical of the esports industry. Cyberanking's
Learning Management System delivers dynamically tailored and
organized content with a specific focus on training and wellness
curriculum relating to esports. It relies on a challenging
curriculum, motivational tools, constant calls to action, and
precise feedback all while promoting growth and rewarding users for
their efforts.
“Implementing Graph Blockchain’s private
blockchain solutions with Cyberanking LMS will address the need for
data integrity and/or security of players' personal data, rankings
and scores. It is important to recognize the synergies and added
value that Graph can bring to Cyberanking specifically through its
ability to provide the tools to elevate its service offering above
its various competitors,” says Jeffrey Stevens, CEO of Graph
Blockchain.
In connection with the Proposed Acquisition,
Adam Morrison will be appointed as Chief Operating Officer.
Throughout the past 15 years, Mr. Morrison has served as CTO and
COO for various technology based companies whose primary focuses
have been based in the entertainment, video game, and esports
industries. Co-founding and previously serving as CEO of the pro
esports franchise, Team Reciprocity, as well as serving as CTO for
Millennial Esports Corp. TSX-V:GAME, Mr. Morrison has garnered an
unparalleled amount of experience and insight into the exploding
industry of professional competitive gaming. In the recent past Mr.
Morrison has played a material role in the construction of Las
Vegas’ first purpose built esports arena and studio, lead the
design and production of several industry leading digital software
assets, and filled the role of Executive Producer for several
nationally broadcast ‘AAA’ title esports tournaments. Currently
working as a principal of ECC, Mr. Morrison’s addition to Graph
Blockchain equips the company with the valuable insight and toolset
required to fully capitalize on the newly entered business vertical
of competitive video gaming.
“Joining the team at Graph and being afforded
the opportunity to help the company break into the ever growing
industry of esports is an exciting venture. I look forward to
leveraging Graph’s technology to address the many needs that the
esports industry has regarding security and integrity,” says Adam
Morrison.
“I am thrilled to have Adam join me on the
management team. There are not many public company officers with
the depth of esports and gaming experience that Adam brings to the
role. His knowledge and contacts will no doubt prove to be
invaluable as we build out this new and exciting division,” says
Jeff Stevens, CEO of the Company.
In addition, the Company announces that Mr.
Bernie Rice will be stepping down as a member of the board
effective August 16th, 2019. The Company thanks Mr. Rice for his
valuable service and contributions and wish him well in his future
endeavours.
About Graph Blockchain Inc.
The Company develops leading-edge private
blockchain business intelligence and data management solutions and
is a pure play in the graph database technology space. Graph
leverages its proprietary integration of the AgensGraph Database
engine with Hyperledger Fabric to create a transparent and
immutable ledger with near real-time transactional data processing
and intuitive data visualization. The Company has secured multiple
prototype development contracts with multi-national conglomerates
and sells across client subsidiaries as a full enterprise
product.
Additional Information on the Company is
available at: www.GraphBlockchain.com.
About Cyberanking Ltd.
Cyberanking is an online coaching platform that
provides game, fitness and psychological training for gamers who
want to become better players and improve their quality of life and
overall wellbeing while doing what they love the most: playing
games. Cyberanking’s soon to launch learning management system is
designed to be accessible anytime, anywhere, and to be scalable in
nature so that customer growth and an ever expanding curriculum are
easily addressed.
Additional Information on Cyberanking is
available at: www.Cyberanking.com
For further information, please
contact:
Jeffrey Stevens – CEOEmail:
jstevens@datametrex.com
Forward Looking Statements
This news release contains "forward-looking
statements" within the meaning of applicable securities laws. All
statements contained herein that are not clearly historical in
nature may constitute forward-looking statements. In some cases,
forward-looking statements can be identified by words or phrases
such as "may", "will", "expect", "likely", "should", "would",
"plan", "anticipate", "intend", "potential", "proposed",
"estimate", "believe" or the negative of these terms, or other
similar words, expressions and grammatical variations thereof, or
statements that certain events or conditions "may" or "will"
happen, or by discussions of strategy. Readers are cautioned to
consider these and other factors, uncertainties and potential
events carefully and not to put undue reliance on forward-looking
statements. Such statements may prove to be incorrect and actual
results may differ materially from those anticipated.
The forward-looking statements contained herein
are made as of the date of this press release and are based on the
beliefs, estimates, expectations and opinions of management on the
date such forward-looking statements are made. Forward-looking
statements in this news release include, but are not limited to,
statements with respect to the Proposed Transaction.
Forward-looking statements contained in this
news release are expressly qualified by this cautionary statement
and reflect the Company’s expectations as of the date hereof and
are subject to change thereafter. The Company undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, estimates or opinions,
future events or results or otherwise or to explain any material
difference between subsequent actual events and such
forward-looking information, except as required by applicable
law.
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