Blockchain
Skyledger Tech Corp. Announces Proposed Transaction to Acquire Yukon Properties
Vancouver, British Columbia–(Newsfile Corp. – October 15, 2020) – Skyledger Tech Corp. (CSE: SKYL) (the “Company” or “Skyledger“) announces that it has entered into a non-binding letter of intent (the “LOI“) dated October 15, 2020 with 18526 Yukon Inc. (the “Vendor“), an arm’s length party, which sets out the general terms and conditions pursuant to which the Company will acquire all of the issued and outstanding shares of a wholly-owned subsidiary of the Vendor (the “Target“) from the Vendor in exchange for the Consideration Shares and the Cash Payments, as further detailed below (the “Transaction“). The Target will own the Einarson (as to 70% with the balance owned by a third party), Rogue, Tosh, Cliff, Rainbow and Cynthia claims located in the Yukon (the “Properties“).
If completed, the Transaction will constitute a “fundamental change” of Skyledger pursuant to the policies of the Canadian Securities Exchange (the “CSE“). Upon completion of the Transaction, Skyledger intends to be listed on the CSE as a mining issuer and will principally focus on the exploration and development of the Properties. The resulting issuer that will exist upon completion of the Transaction (the “Resulting Issuer“) will continue to operate under the name Snowline Gold Corp.
The final structure of the Transaction will be determined by the parties following receipt of tax, corporate and securities law advice. The Transaction is an arm’s length transaction. Upon closing of the Transaction and the Concurrent Private Placement (defined below) (the “Closing“), it is expected that current shareholders of Skyledger will hold approximately 37% of the common shares of the Resulting Issuer, current shareholders of 18526 will hold approximately 32% of the common shares of the Resulting Issuer and new shareholders as a result of the private placement financings described below under “Financings” will hold approximately 31% of the common shares of the Resulting Issuer.
Further details of the proposed Transaction will follow in future news releases.
Terms of the Transaction
Pursuant to the LOI, the Company has agreed to acquire the Properties from the Vendor for total consideration of (a) 27,500,000 common shares of the Company (the “Consideration Shares“), (b) $1,000,000 in cash on Closing, (c) $250,000 in cash on each of the first, second, third and fourth anniversaries of Closing, and (d) $1,000,000 upon the Company announcing either a measured, indicated, inferred, or any combination thereof, mineral resource of at least 1,000,000 ounces of gold on a Property (the “Cash Payments“). The Vendor will retain a royalty equal to 2.0% of the net smelter returns in respect of each of the Properties.
Description of the Property
The Vendor currently owns the Einarson (as to 70% with the balance owned by a third party), Rogue, Tosh, Cliff, Rainbow and Cynthia claims located in the Yukon covering 66,528 Hectares (164,394 Acres). The Vendor is in the process of preparing current technical report on each of Einarson and Rogue, which are expected to be the mineral properties material to the Resulting Issuer. Further and more fulsome disclosure will be provided in subsequent news releases. The technical reports will be filed on the Company’s SEDAR profile once they have been finalized.
Financings
The parties have agreed that prior to completion of the Transaction, (a) within 60 days of the LOI, the Target will complete a non-brokered private placement of 8,000,000 common shares at a price of $0.15 per share for total proceeds of $1,200,000, and (b) within 45 days of the LOI, subject to the approval of the CSE, Skyledger will complete a non-brokered private placement of 2,000,000 common shares at a price of $0.15 per share for total proceeds of $300,000.
Concurrent with the completion of the Transaction, Skyledger expects to complete a private placement of units (the “Units“) of the Company for gross proceeds of $5,000,000 (the “Concurrent Private Placement“). Each Unit is expected to be issued at a price of $0.30 and consist of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant“). Each Warrant will be exercisable into one common share of Skyledger at a price of $0.50 for three years. The proceeds of the Concurrent Private Placement will be used for exploration and related expenditures respecting the Properties and working capital purposes. Closing of the Concurrent Private Placement is conditional upon completion of the Transaction. Further details regarding the Concurrent Private Placement will be included in a subsequent news release once additional details become available.
Conditions of Closing
Completion of the Transaction will be subject to certain conditions, including but not limited to: (a) the receipt of all necessary approvals of the boards of directors of Skyledger and the Vendor; (b) the receipt of approval of the shareholders of Skyledger in accordance with applicable laws, including the rules of the CSE; (c) the receipt of all required consents and approvals, including without limitation, approval of the Transaction by the CSE; (d) Skyledger satisfying the initial listing requirements set by the CSE for a mining issuer; (e) the completion by Skyledger of the Transaction Financing; and (f) the completion of satisfactory mutual due diligence.
The LOI may be terminated by either party if (a) they mutually agree; or (b) the definitive agreement with respect to the Transaction has not been executed on or before November 17, 2020 or such later date as may be agreed to by the parties.
Board of Directors and Management
Upon completion of the Transaction, it is expected that Scott Berdahl, a shareholder of 18526, will be appointed to the board of directors of the Company such that it will consist of four directors. The Company will consider such further changes as may make sense for the business of the Company going forward.
Further Information
Further details about the Transaction and the Resulting Issuer will be provided in a comprehensive news release when the parties enter into definitive agreement with respect to the Transaction.
Investors are cautioned that any information released or received with respect to the Transaction in this news release may not be complete and should not be relied upon.
Completion of the Transaction is subject to a number of conditions, including but not limited to, CSE and shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the listing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.
The CSE has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.
The securities to be issued in connection with the Transaction 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 and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Skyledger Tech Corp.
Skyledger is a Bitcoin mining company that gives shareholders access to the potential price appreciation of Bitcoin. The Company currently owns ASIC S17 and S9 Rigs that are located in Gibsons, British Columbia.
On behalf of the Board of Directors
James Liang
Chief Executive Officer
(604) 681-0911
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements about the Company’s completion of the Transaction as well as its future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things: risks and uncertainties relating to the Company’s ability to complete the proposed Transaction; and other risks and uncertainties. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66042
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
![ethereum-etfs-aren’t-blockchain-but-is-a-revolutionary-tech:-top-6-amazing-reasons-to-invest-in-them](https://theblockchainexaminer.com/wp-content/uploads/2024/07/51834-ethereum-etfs-arent-blockchain-but-is-a-revolutionary-tech-top-6-amazing-reasons-to-invest-in-them.png)
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Blockchain
Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance
![nexo-reaffirms-commitment-to-data-protection-with-soc-3-and-soc-2-compliance](https://theblockchainexaminer.com/wp-content/uploads/2024/07/51836-nexo-reaffirms-commitment-to-data-protection-with-soc-3-and-soc-2-compliance.png)
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
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