Toronto, Ontario--(Newsfile Corp. - March 8, 2021) - Graph Blockchain Inc. (CSE: GBLC) ("Graph" or the "Company") is pleased to announce that 10.3 million of the previously issued the share purchase options ("Options") have been exercised resulting in gross proceeds to the Company of $866,000 to further capitalize the company.
Graph will be the first publicly trading altcoin Proof of Stake ("PoS") miner, which will generate revenue while providing exposure to several top digital assets by market capitalization. The Company plans to deploy the cash in additional altcoin purchases.
In addition, the Company has granted incentive stock options to directors, officers, advisor, and employees of the company to purchase up to 13 million common shares in the capital of the company, pursuant to the stock option plan of the company. The options are exercisable at a price of 21 cents per share and will expire two years from the date of grant.
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 Babbage Mining Corp. which will focus on Altcoins, alternative cryptocurrencies to Bitcoin. By mining Altcoins through Proof of Work and Proof of Stake, Babbage is aiming to give its investors exposure to the vast emerging market of cryptocurrencies with the significant technological disruption and potential gains that Altcoins represent.
For further information, please contact:
Jamie Hyland Phone: +1 604-442-2425 Email: firstname.lastname@example.org
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.
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.