TORONTO, June 15, 2021 (GLOBE NEWSWIRE) — Blockchain Foundry Inc. (“BCF” or the “Firm”) (CSE: BCFN) is happy to announce that it has signed a letter of intent to kind a three way partnership (the “JV”) with REVXM Inc. (“REVXM”), a number one sponsorship advertising firm which has in depth relationships with rights holders and content material creators within the sports activities, music, tradition and cause-related verticals. Sponsorship Canada, a division of REVXM, at present works with purchasers to monetize income streams by way of strategic partnerships and the JV will develop this providing to incorporate digital collectibles and non-fungible tokens (“NFTs”) by way of a brand new entity known as CollectDeFi Inc. To join updates on the mission, customers can go to www.CollectDeFi.com.
The aim of the JV is to develop and launch a white-labelled NFT platform that permits content material creators to listing and promote NFTs and different digital collectibles. The platform will probably be constructed on the Syscoin blockchain platform, which was created by senior members of BCF’s technical staff.
The JV will probably be structured such that BCF will personal 40% of the JV fairness, with the remaining 60% to be owned by REVXM and third-party traders. BCF will present technical growth to the JV and REVXM will oversee gross sales, advertising and operations. In consideration of REVXM’s function within the JV, BCF has agreed to concern REVXM a million frequent share buy warrants to accumulate an equal variety of frequent shares of BCF at an train value of $0.37 per share for a interval of 18 months from the date of concern.
The JV intends to launch an preliminary product in late 2021. Additional updates will probably be offered to the market because the JV executes on its progress technique and identifies preliminary purchasers for the platform.
“We’re excited to mix BCF’s blockchain experience with REVXM’s sturdy community of content material creators and property homeowners. The mixture of those two entities will allow the speedy growth of the goal product whereas concurrently offering a set of purchasers which are prepared and ready to undertake our answer,” stated Dan Wasyluk, CEO of BCF.
“We’re ecstatic to accomplice with the staff from Blockchain Foundry to create this distinctive enterprise,” stated Invoice Gaskey, Managing Companion of REVXM. “REVXM was conceived to be an innovator and incubate disruptive ideas and this JV will present an added edge for our model and property companions. We will not wait to share CollectDeFi with the world.”
About Blockchain Foundry Inc.
Blockchain Foundry develops and commercializes blockchain-based enterprise options and supplies consulting providers to company purchasers in search of to include blockchain expertise into their companies.
About REVXM Inc.
REVXM was created to offer a brand new lens on properties and sponsorship and uncover how expertise and innovation can play a task within the present atmosphere and as we evolve into the longer term. REVXM additionally homes Sponsorship Canada which is a pacesetter in sponsorship asset analysis, naming rights gross sales and income era for venues, occasions and properties. With over $1B in gross sales, session and valuation work so far, Sponsorship Canada continues to drive revolutionary monetization options for homeowners within the sports activities, music, tradition and trigger industries.
Blockchain Foundry Contact Data:
Chief Govt Officer
REVXM Contact Data:
Sure parts of this press launch comprise “forward-looking data” inside the that means of relevant Canadian securities laws, which can be known as “forward-looking statements”, which is probably not primarily based on historic reality, together with, however not restricted to, statements with respect to the letter of intent referring to the JV and proposed possession construction of the JV, enterprise technique and aims of BCF, and the anticipated timelines for BCF’s future merchandise and the preliminary product launch of the JV. Wherever attainable, phrases resembling “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “might,” “might,” “would” or would possibly, and the unfavourable of such expressions or statements that sure actions, occasions or outcomes “might,” “might,” “would,” “would possibly” or “will” be taken, happen or be achieved, have been used to establish forward-looking data.
Ahead-looking statements shouldn’t be learn as ensures of future occasions, future efficiency or outcomes, and won’t essentially be correct indicators of the instances at, or by which, such occasions, efficiency or outcomes will probably be achieved, if achieved in any respect. Readers shouldn’t place undue reliance on such forward-looking statements, as they mirror administration’s present views with respect to future occasions and are topic to dangers and uncertainties and are essentially primarily based upon quite a few estimates and assumptions that, whereas thought-about affordable by BCF, are inherently topic to important enterprise, financial, regulatory, aggressive, political and social uncertainties, and contingencies, together with, however not restricted to, capital expenditures, different prices, or implied future forecasts associated to the brand new merchandise, the power of BCF to reach finishing up its enterprise, or that it will likely be profitable in creating, commercializing or profitably working its future merchandise within the method described herein, adjustments to the proposed construction of the merchandise which may be required or applicable on account of relevant legal guidelines or laws or as a situation to acquiring regulatory approval for the merchandise. As well as, sure future merchandise might require BCF to change into registered or apply for an exemption for registration for which there could be no assurance that such purposes will probably be profitable or accomplished in a well timed method. Many elements might trigger BCF’s precise outcomes, efficiency or achievements to be materially totally different from any future outcomes, efficiency, or achievements which may be expressed or implied by such forward-looking statements.
The forward-looking statements contained on this information launch are made as of the date of this information launch, and BCF doesn’t undertake to replace any forward-looking statements contained or referenced herein, besides in accordance with relevant securities legal guidelines.
Ahead-looking statements contained on this information launch are expressly certified by this cautionary observe.
This information launch doesn’t represent a suggestion to promote or a solicitation of a suggestion to purchase any of the securities described herein in the USA. The securities described herein haven’t been registered below the USA Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities regulation and is probably not provided or bought within the “United States”, as such time period is outlined in Regulation S promulgated below the U.S. Securities Act, except registered below the U.S. Securities Act and relevant state securities legal guidelines or an exemption from such registration necessities is out there.