Canada One Mining Corp. Signs Letter Of Intent To Evaluate Assets Of Blockchain Fintech Company
Vancouver, December 13, 2017 - Canada One Mining Corp. ("Canada One" or the "Company") (TSXV: CONE, OTC: ANGUF). As announced by the Company on December 6th, its board of directors has initiated a strategic review of the Company's existing portfolio of assets, which includes an evaluation of potential transactions in the blockchain and cryptocurrency sector, to determine whether such transactions are in the interest of shareholders. In connection with that review, Canada One has signed a letter of intent with a privately held company at the forefront of blockchain based transaction verification, commonly known as cryptocurrency mining, with a view to evaluating its existing assets and operations. The principals of the private company have extensive experience in commercial cryptocurrency mining operations and are in the process of establishing second generation facilities. These facilities will mine multiple types of cryptocurrency, with the objectives of maximizing profitability by integrating newly developed industry leading technology with optimized layout configurations and innovative proprietary cooling methods.
Readers are cautioned that the letter of intent entered into by the Company does not set forth the terms of a potential transaction nor have such terms been negotiated or finalized. Completion of any transaction is subject to a number of conditions, including, but not limited to, completion of due diligence, negotiation of definitive agreements in respect of such a transaction, the availability of financing on terms acceptable to the Company, and the receipt of any required regulatory and shareholder approvals. A transaction cannot be completed until these conditions are satisfied, and there can be no assurance that such a transaction, or any transaction in the blockchain and cryptocurrency sector, will be completed at all.
For further information, contact Peter Berdusco at 1.877.844.4661.
On behalf of the Board,
Peter Berdusco, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
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