360 Blockchain Inc. (
CSE: C.CODE,
BKLLF,
Forum) said Thursday it has executed a non-binding letter of intent to acquire 60% of the outstanding shares of Silicon Valley-based SV Crypto Lab (SV).
If 360 and the shareholders of SV can agree on mutually acceptable terms and the transaction is completed, SV CryptoLab founder and CEO Mr. James Cerna will lead the advancement of the SV CryptoLab business model, establishing the 360 presence with its previously announced office in San Carlos, California.
More information can be found
here.
360 Blockchain was in the news recently when it announced the closing of an over-subscribed private placement financing that raised $1.5 million. Proceeds will be used for general corporate purposes, including funding its current operations and supporting ongoing investigations of potential business opportunities.
FULL DISCLOSURE: 360 Blockchain Inc. is a paid client of Stockhouse Publishing.