Global Care Capital Inc (HLTH) has entered into a letter of intent to acquire all securities of CCM Technologies.
CCM Technologies Inc. is a cryptocurrency mining company with state-of-the-art ASIC chips. The Letter of Intent (LOI) outlines terms and conditions for the proposed transaction, which include:
- Global Care will issue an aggregate of 95,000,000 common shares to CCM shareholders at a deemed price of $0.11 and issue to CCM warrant holders an aggregate of 65,000,000 common share purchase warrants
- Each purchase warrant permits the holder thereof to acquire one Global Care common share at a price of $0.05 until 1 year after the closing of the transaction
This is an arms-length transaction and no changes in management are being considered at this time.
“With the proposed acquisition of CCM Technologies, Global Care will expand its portfolio to include ASIC machines as CCM works toward implementing its first phase of a planned datacenter program. The machines can be used to test out proprietary mining software, improve hashrate and expand on existing analytics software. The team at CCM Technologies have proven they have a deep understanding of the industry,” said Alex Somjen, CEO of Global Care Capital.
The goal of the acquisition is to give Global Care shareholders further exposure to cryptocurrency mining infrastructure, which is the backbone and cornerstone of blockchain technology.
CCM Technologies Chief Executive Officer, Lawrence Cofield stated,
“We are excited to work with Global Care at this important time in the cryptocurrency mining sector and create synergies by pairing our pipeline of opportunities and partnerships with leading hardware producers with Global Care’s existing exposure to cryptocurrency royalty streaming. There is potential to unlock value in numerous digital asset classes through innovative Decentralized Finance strategies (DeFi) with emerging blockchain technologies.”
CCM Technologies Inc. is a digital asset technology company with a focus on providing infrastructure for the blockchain ecosystem and mining of cryptocurrencies.
Global Care Capital is a global investment company that specializes in providing early-stage financing to private and public companies.
Global Care Capital Inc. (HLTH) opened trading at C$0.11 per share.