Blockchain
Converge Technology Solutions Corp. Announces Increase to Previously Announced Bought Deal Financing of $7.5 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia and TORONTO, Feb. 12, 2020 (GLOBE NEWSWIRE) — Converge Technology Solutions Corp. (“Converge” or the “Company”) (TSXV: CTS) (FSE:0ZB) (OTCQX:CTSDF) is pleased to announce that it has entered into an amended agreement with Raymond James Ltd., acting as sole book-runner and lead underwriter on behalf of a syndicate of underwriters (collectively, the “Underwriters”) to increase the size of its previously announced offering of common shares (the “Offering”). Under the amended terms of the Offering, the Underwriters have agreed to purchase, on a “bought deal basis”, 5,769,231 common shares of the Company (“Offered Shares”) at a price of $1.30 per Offered Share (the “Issue Price”) for gross proceeds to the Company of $7.5 million. In addition, Converge has granted the Underwriters an option, exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the financing, to purchase up to an additional 865,384 common shares of the Company solely to cover over-allotments, if any, and for market stabilization purposes. In the event the over-allotment option is exercised in full, the aggregate gross proceeds of the Offering will be $8.625 million.
Converge intends to use the net proceeds from the Offering for acquisitions, working capital and for other general corporate purposes.
The Offering will be conducted in each of the provinces of Canada by way of a prospectus supplement to the Company’s short form base shelf prospectus dated July 8, 2019 (the “Prospectus Supplement”) and elsewhere on a private placement basis. Converge intends to file the Prospectus Supplement with the securities regulatory authorities in Canada, which will be available on SEDAR under the Company’s profile at www.sedar.com.
The Offering is scheduled to close on or about February 20, 2020 and is subject to customary closing conditions, including listing of the Offered Shares on the TSX Venture Exchange and any required approvals of the exchange and applicable securities regulatory authorities.
The Offered Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, the Offered Shares may not be offered or sold within the United States, its territories or possessions, any state of the United States or the District of Columbia (collectively, the “United States”) except in transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any Offered Shares within the United States.
About Converge Technology Solutions Corp.
Converge Technology Solutions Corp. combines innovation accelerators and foundational infrastructure solutions to deliver best‐of‐breed solutions and services to customers. The Company is building a platform of regionally‐focused Hybrid IT solution providers to enhance their ability to provide multi‐cloud solutions, blockchain, resiliency, and managed services, enabling Converge to address the business and IT issues that public and private‐sector organizations face today.
For further information contact:
Mary Anne Palangio Chief Financial Officer Converge Technology Solutions Corp. Email: [email protected] Phone: 416‐360‐1495 |
Virtus Advisory Group Shareholder Inquiries Email: [email protected] Phone: 416‐644‐5081 |
Forward-Looking Statements
This press release contains certain “forward‐looking information” and “forward‐looking statements” (collectively, “forward‐looking statements”) within the meaning of applicable Canadian securities legislation regarding Converge and its business. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward‐looking statements. Forward‐looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking statements. These forward-looking statements include, but are not limited to, statements relating to the timing and completion of the Offering, the satisfaction and timing of the receipt of required stock exchange approvals and other conditions to closing of the Offering and the intended use of the net proceeds of the Offering. Except as required by law, Converge assumes no obligation to update the forward‐looking statements of beliefs, opinions, projections, or other factors, should they change. The reader is cautioned not to place undue reliance on forward‐looking statements.
For a detailed description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s annual information form, which is available on SEDAR under the Company’s profile at www.sedar.com, and the consolidated financial statements of the Company for the years ended December 31, 2018 and 2017, together with the corresponding Management’s Discussion and Analysis for additional risk factors described under “Risks and Uncertainties”.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Blockchain
Blocks & Headlines: Today in Blockchain – May 7, 2025 | Coinbase, Riot Games, Curve DAO, Litecoin, AR.IO

Today’s blockchain and cryptocurrency landscape is as dynamic as ever, with marquee partnerships, industry-wide reckonings, and groundbreaking applications reshaping how we think about digital assets. In this op-ed style daily briefing, we explore five major developments from May 6 – 7, 2025:
-
Coinbase & Riot Games Forge Esports Alliance
-
“Too Many Blockchains?” Industry Introspection
-
Blockchain’s Health-Tech Revolution
-
Valour Adds Curve DAO & Litecoin ETPs in the Nordics
-
AR.IO Enables Credit-Card Onramps for Web3 Identity & Hosting
Through concise yet detailed coverage, we analyze each story’s implications for blockchain, cryptocurrency, Web3, DeFi, and NFTs. Welcome to your Blocks & Headlines daily briefing—where opinion meets analysis.
1. Coinbase & Riot Games Forge Esports Alliance
Source: Coinbase Blog
Date: May 6, 2025
In a landmark partnership that bridges digital finance with digital competition, Coinbase has been named the exclusive cryptocurrency exchange and official blockchain technology partner of Riot Games’ global League of Legends and VALORANT esports events. Starting with the VCT Masters tournament in Toronto on June 7, Coinbase will integrate “live Econ Reports” and “Gold Grind” segments into broadcasts, offering running analyses of in-game currency flows, alongside exclusive digital drops like emotes and icons redeemable by viewers.
Opinion: This move is a masterstroke for mainstream crypto adoption. Esports’ digitally native fanbase aligns perfectly with blockchain’s ethos of transparency and community governance. Coinbase’s embrace of in-game analytics not only educates viewers on micro-economies but also paves the way for future on-chain game mechanics—potentially unlocking true digital ownership of skins and items as NFTs. Expect other exchanges to follow suit or risk missing out on Gen Z’s next frontier of fandom.
2. “Too Many Blockchains?” Industry Introspection
Source: Blockworks
Date: May 6, 2025
As venture capital floods yet another dozen Layer-1 protocols each quarter, seasoned observers are questioning sustainability. Donovan Choy of Blockworks highlights that new chains like Camp Network, Unto, and Miden collectively raised north of $70 million in the past week alone—despite Sui’s market-cap spike lacking any commensurate fee revenue. While some attribute this proliferation to speculative greed chasing the elusive L1 premium, others credit genuine technical divergence—differing visions on execution environments, MEV capture, and data-availability layers.
Opinion: The free market appears to be self-correcting: L1 valuations are compressing, and public markets are already signaling fatigue. Yet, technical fragmentation has its merits—competition drives innovation in consensus, sharding, and gas-fee economics. The looming challenge is application-chain misalignment: developers face choice paralysis and liquidity fragmentation. A pivot toward cross-chain composability—and perhaps the rise of federated execution environments—will determine which chains survive the next cycle. Investors should look for interoperability roadmaps rather than mere tokenomics hype.
3. Blockchain’s Health-Tech Revolution
Source: DataHorizzon Research via OpenPR
Date: May 7, 2025
Blockchain in healthcare is projected to surge from a $4.57 billion market in 2023 to $34.7 billion by 2033 (CAGR 22.9%). Key drivers include:
-
Data Integrity & Security: Immutable ledgers ensure tamper-proof electronic health records, bolstering HIPAA and GDPR compliance.
-
Interoperability: Permissioned smart contracts automate cross-institutional data access, alleviating EHR fragmentation.
-
Supply-Chain Traceability: Real-time drug tracking combats counterfeits and streamlines recalls.
-
Claims Automation: Shared ledgers reduce fraud and billing lags via automated smart-contract adjudication.
-
Research Collaboration: Timestamped trial data and consent forms create verifiable audit trails.
Leading players—IBM Watson Health, Guardtime, Longenesis, Chronicled, BurstIQ, and more—are moving beyond pilots in Estonia and Merck’s vaccine cold-chain projects toward enterprise-scale rollouts.
Opinion: Healthcare’s conservative nature makes blockchain’s strides here particularly noteworthy. The confluence of AI analytics with secure datasets promises predictive diagnostics powered by immutable provenance. Yet, regulatory uncertainty and integration with legacy EHR platforms remain significant hurdles. The winners will be those who offer turnkey compliance frameworks and hybrid on-chain/off-chain models that respect “right to be forgotten” laws while preserving auditability.
4. Valour Adds Curve DAO & Litecoin ETPs in the Nordics
Source: GlobeNewswire (via GlobeNewswire and CoinCentral)
Date: May 7, 2025
DeFi Technologies’ subsidiary Valour has listed single-asset SEK-denominated ETPs for Curve DAO (CRV) and Litecoin (LTC) on Sweden’s Spotlight Stock Market—bringing its Nordic ETP lineup to over 67 products on the path to 100 by year-end. Upcoming listings include Tron (TRX), Stellar (XLM), and leveraged Bitcoin (BTC 2×) and Ethereum (ETH 2×) products.
Opinion: ETPs bridge traditional capital markets with on-chain assets, offering regulated wrappers for institutional and retail investors. Valour’s Nordic expansion underscores Europe’s leadership in crypto security tokenization. However, as ETP count balloons, product fatigue may set in. Success lies not in sheer quantity but in thematic curation and transparent fee structures—particularly for DeFi-native tokens like CRV, where governance risk and protocol upgrades can materially impact value.
5. AR.IO Enables Credit-Card Onramps for Web3 Identity & Hosting
Source: Chainwire (as published by MENAFN)
Date: May 6, 2025
AR.IO—the world’s first permanent cloud network built on Arweave—has launched “Turbo,” an open-source bundler that lets users purchase Arweave credits via credit card for its ArNS domain‐name and web-hosting service. ArNS domains are immutable smart contracts on Arweave, offering permanent websites and on-chain identities without renewal fees, served by 400+ decentralized gateways.
Opinion: Simplifying fiat → crypto onramps remains a critical barrier for mainstream Web3 adoption. By integrating credit-card payments, AR.IO lowers friction for developers and businesses wanting censorship-resistant hosting. The true long-term play is embedding real-world payment rails into decentralized infrastructure—setting a precedent for other ledger-based services (e.g., Filecoin, IPFS pinning). If AR.IO can combine permanency with user-friendly billing, we may witness a tipping point in Web3’s shift from hobbyist experiments to enterprise solutions.
Conclusion
Today’s slate of headlines spans from consumer-facing esports innovations to deep industry self-reflection, from life-saving healthcare applications to sophisticated investment vehicles, and finally, critical infrastructure enabling mainstream onramps. Across every sector—gaming, finance, healthcare, asset management, and infrastructure—the recurring theme is bridging gaps:
-
On-chain & off-chain: through fiat onramps and traditional ETP listings
-
New chains & legacy systems: via interoperability and hybrid architectures
-
Speculation & real-world utility: with tangible ROI in healthcare and esports
For enthusiasts and professionals alike, the imperative is clear: focus on solutions that marry blockchain’s core benefits—transparency, security, decentralization—with seamless user experiences and regulatory alignment. Only then will we see blockchain and crypto transcend niche fervor to become indispensable pillars of tomorrow’s digital economy.
The post Blocks & Headlines: Today in Blockchain – May 7, 2025 | Coinbase, Riot Games, Curve DAO, Litecoin, AR.IO appeared first on News, Events, Advertising Options.
Blockchain
Colb Asset SA Raises $7.3 Million in Oversubscribed Round to Bring Pre-IPO Giants to Blockchain
Blockchain
Flipido Trading Center Launches ‘Flipido Learn’ Platform to Empower Crypto Investors Through Education
-
Blockchain6 days ago
HODL 2025: Blockchain’s Brightest Minds. All in Dubai
-
Blockchain Press Releases6 days ago
Interlace Debuts at Token2049 to Accelerate Web2-Web3 Integration Across MENA
-
Blockchain Press Releases6 days ago
From Exchange to Ecosystem Builder: MEXC Celebrates 7th Anniversary at TOKEN2049 Dubai with $300M Ecosystem Development Fund Launch
-
Blockchain7 days ago
SkyCrest Capital Launches SkyAlpha X 2.0 AI System and Innovative SkyFund Protocol (SKF)
-
Blockchain Press Releases2 days ago
HTX Premieres USD1 Stablecoin Globally, Partnering with World Liberty Financial to Forge a New Era of Decentralized Economy
-
Blockchain Press Releases6 days ago
Bybit and St. Paul American Scholars School Furthers Partnership Commitment in Bybit’s HQ Visit
-
Blockchain Press Releases2 days ago
JuCoin made a global impact at TOKEN2049 Dubai, advancing its ecosystem with the “Peak Experience” vision and JuChain’s robust tech.
-
Blockchain5 days ago
UnitedStaking.com Launches Advanced Crypto Staking Platform with Global Reach and Real-World Impact