FORK news! See you at $0.11 soon folks Vancouver, British Columbia--(Newsfile Corp. - March 22, 2019) - GLOBAL BLOCKCHAIN MINING CORP. (CSE: FORK) (OTC Pink: GBCHF) ("FORK" or the "Company") is pleased to announce that the AMR crowdsale concluded yesterday, and in this time approximately 320,000,000 AMR tokens were sold between the public crowdsale on the Singularity Exchange, as well as private sales to institutional clients. FORK's client Ammbr Foundation Pte Ltd. ("Ammbr") considers FORK's work on the sale of AMR to have been a definitive success, with approximately 80% of the sale allocation having been purchased (~320,000,000 out of 400,000,000 tokens), with proceeds collected in a range of cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH). FORK first announced its partnership with Singapore-based Ammbr in a press release dated October 23 2018. FORK extends its congratulations to Ammbr and its team for its many significant accomplishments in just under six months of working together.
Moving into the post-crowdsale stage of Ammbr's deployment, FORK issues the following updates on behalf of Ammbr:
Ammbr Infrastructure Deployment in India
It was announced in January 2019, that Ammbr's US-based affiliate company AmmbrTech, Inc. ("AmmbrTech") had secured a large-scale infrastructure deployment contract with India-based Internet service provider Smartware Technologies Pvt Ltd. ("Smartware"), with rollouts planned across 53 cities and more than 15,000 villages in India. As of this writing, AmmbrTech is beginning production on the first volume production order of Ammbr network hardware for India, which will underpin full commercial deployments beginning in May 2019.
Wireless Mesh Service Joint Venture in Northern Canada
FORK and AmmbrTech are presently exploring the prospect of launching a wireless mesh network under a joint venture in northern Canada, to service the resources industry and to provide Internet connectivity for disadvantaged communities. At this time, the Company and AmmbrTech are working on a letter of intent to solidify this arrangement, with a definitive outcome likely to materialize in mid-Q3 2019.
Project Oversight
The blockchain space has been adversely impacted by numerous failed or fatuous projects over the past months. In order to avoid doubt, and better align the interests of the Ammbr project with those of its token holders, FORK and Ammbr have placed the proceeds of the crowdsale under the management of a separate fiduciary organization. Proceeds will be released according to clear performance metrics such as the deployment of Ammbr network infrastructure in various locations. This includes subsidy schemes for disadvantaged communities, thereby accelerating the project's goals by ensuring greater affordability of infrastructure. Details of such subsidy schemes and other incentives will be published at a later date.
AMR Listing on Cryptocurrency Exchanges
Upon conclusion of the AMR crowdsale, and the positive metrics shown, Ammbr is working to arrange to have AMR listed on large-scale cryptocurrency exchanges. Negotiations are presently in motion, with firm listing agreements set to be established before the end ofMay, 2019.
Derick Smith, Managing Director of Ammbr, said, "We are most pleased with the outcomes of working with FORK so far. They have brought about great results in conducting sales of AMR, and cultivated new business opportunities, including a unique arrangement in which we can build wireless mesh networks on Ammbr for northern Canada. With 80% of the sale allocation of AMR sold, we are confident that we have the support of a multitude of users in the early stages of Ammbr, and we look forward to seeing how that will turn out in the course of 2019 with multiple international deployments already set to take place, and even more in the works."
FORK President and CEO Shidan Gouran commented, "We are thrilled to announce the success of the AMR crowdsale, and we congratulate Mr. Smith and his team for developing a scalable and dynamic wireless mesh networking solution using blockchain technology. As big believers in Ammbr's technologies, it is clear to us from how these technologies have been received, that there is a very strong base of AMR supporters right from the beginning, and we are working on many more related developments in the background. We thank all AMR token purchasers, and all prospective partners for their interest, and we believe there are many exciting opportunities on the horizon for Ammbr and AmmbrTech."
On behalf of the Company:
Shidan Gouran, President and CEO
info@globalblockchain.io