Vancouver, British Columbia (FSCwire) - 360 Blockchain Inc.
("360" or the "Company") (CSE: CODE – FWB: C5B – OTC: BKLLF) announces that it has closed the previously announced acquisition of
60% of the issued and outstanding shares of SV CryptoLab Inc., and has the option to purchase the remaining 40% for US
$75,000. The Company paid US $250,000 and issued 5,000,000 common shares from treasury as consideration.
“We are excited to reach this milestone, completing our initial acquisition in the blockchain space, so that we can
scale this concept,” said Mr. George Tsafalas, 360 Blockchain Inc’s President and CEO. “We are working to replicate SV
CryptoLab’s business model, together with its proprietary evaluation algorithm, in other cities soon,” added Mr. Tsafalas.
Silicon Valley-based SV CryptoLab provides an adaptable tech environment. During working hours, it’s a cutting-edge
facility that’s part hacker space and part social space that is open to the public; blockchain and cryptocurrency enthusiasts are
invited to attend weekly meetups and hackathons free of charge. On nights and weekends, the facility’s significant hardware is
dedicated to mining cryptocurrency, a computationally intensive process that sits at the heart of Bitcoin and other
cryptocurrencies. SV CryptoLab utilizes a proprietary evaluation algorithm to determine the most attractive cloud-mining
contracts.
About 360 Blockchain Inc.
Our Mission: To empower blockchain technologies with capital and experience to create
exponential value.
Company Description: 360 Blockchain Inc. has an all-round view to accelerate the
development and application of revolutionary blockchain technologies by investing capital and expertise. We are founded on the
belief that blockchain technology, essentially a distributed ledger which is transparent and incorruptible, has the potential to
transform the way business is conducted, delivering security, cost savings and efficiency gains not seen before in our internet
connected world. 360 Blockchain will be focused upon identifying and empowering blockchain technologies applying to
crypto-currencies, smart contracts, eSports, data management, the internet of things, equity trading, privacy applications and
beyond.
For further information, please contact:
Joe Bleackley
Investor Relations
Telephone: 1 (778) 806-5150
E-mail: IR@360blockchaininc.com
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial
known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking
statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds,
corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost
and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and
is based on information currently available to management. Often, but not always, forward-looking statements can be identified by
the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts",
"intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases
or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be
taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual
results or performance to materially differ from any future results or performance expressed or implied by the forward-looking
information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the
control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and
dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking
statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/360Blockchain01172018.pdf
Source: 360 Blockchain Inc. (CSE:CODE, OTC Bulletin Board:BKLLF, FWB:C5B)
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