Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Blockchain

BlockMint Announces Closing of $1,000,000 Private Placement

Published

on

Vancouver, British Columbia–(Newsfile Corp. – January 27, 2021) – BlockMint Technologies Inc. (TSXV: BKMT) (“BlockMint” or the “Company”) (www.blockmint.ai) announces the closing of its previously announced private placement (the “Private Placement”) (see news releases dated December 31, 2020 and January 19, 2021) for gross proceeds of $1,000,000. These funds were raised by the Company issuing 3,846,154 common shares at a price of $0.26 per share (the “Private Placement”).

In connection with the Private Placement, the Company issued an aggregate of 150,462 finder’s shares to certain brokerage firms for introducing subscribers to the Company. All shares issued on closing of the Private Placement are subject to a hold period under applicable Canadian securities laws expiring on May 27, 2021.

Certain of the Company’s directors and officers participated in the Private Placement for an aggregate of 330,768 shares. This participation constitutes a “related party transaction” for the purposes of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying upon exemptions from the requirements to obtain a formal valuation and seek minority shareholder approval for the Private Placement on the basis that the fair market value of the participation by related parties in the Private Placement is less than 25% of the Company’s current market capitalization.

About BlockMint Technologies Inc.

BlockMint, through its wholly owned subsidiary, Blockmint (USA) Technologies Inc., develops distributed systems and networks that enable a more decentralized deployment of blockchain based applications such as cryptocurrency mining. BlockMint’s initial products will be Minter and MintAccess, both of which are explained in further detail below.

Advertisement

Minter Browser

BlockMint has developed software that allows owners of various connected devices (e.g. desktops, laptops, gaming consoles, smartphones, etc.) to download a browser app called “Minter” which utilizes the user’s spare computing power to mine various cryptocurrencies in exchange for BlockMint paying the user a fee in cryptocurrency. Users are able to control the amount (if any) of computing power on his/her connected device used by the Company for mining via a dashboard built into the browser. Users bear all mining costs associated with the computing power on their device (electricity costs of operating the user’s device) but benefit from a sharing of the income earned from any currency mined. The Minter browser also provides a virtual private network (“VPN”), ad-blocker and cryptocurrency wallet. The upgraded version of Minter will be launched for use on desktops and laptops, with apps for smartphones, tablets, gaming consoles and other connected devices to follow. BlockMint’s upgraded version of Minter is expected to be available for download in February 2021.

MintAccess

BlockMint is also developing software that allows website owners to earn cryptocurrency from users when they visit the owner’s site. As with the Minter browser, the MintAccess application will utilize the site visitor’s spare computing power to mine cryptocurrency. Income earned from the mined cryptocurrencies will be shared between the website owner and BlockMint. This will allow website owners to monetize the content on their site without having a site visitor pay a fee (no paywall) or view ads (ads will not display). A site visitor using any browser will be able to “opt-in” and allow his/her device to mine cryptocurrency in exchange for free content without ads. The application will only mine while the user is visiting the owner’s site and will disconnect once the user leaves the site. BlockMint is targeting a release date for MintAccess in the first half of 2021.

On behalf of
BLOCKMINT TECHNOLOGIES INC.

Advertisement

Nelson Ijih

Nelson Ijih, CEO

[email protected]

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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the business strategy and objectives of BlockMint and the release dates for Minter and MintAccess. 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. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. There is further no assurance that the Company will be successful in developing, commercializing or profitably operating its new business in the manner described. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Advertisement

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

Published

on

fintech-as-a-service-market:-a-comprehensive-trends-analysis-predicts-a-usd-1,32912-billion-by-2032-cagr:-17.4%-|-pmr
Continue Reading

Blockchain

Bybit Web3 Launches World’s Largest GameFi Playground at Crypto Ark-ade as GameFi Market Size Surges to $20bn

Published

on

bybit-web3-launches-world’s-largest-gamefi-playground-at-crypto-ark-ade-as-gamefi-market-size-surges-to-$20bn
Continue Reading

Blockchain

Money Transfer Apps Industry Worth $47.67 Billion by 2029 – Regional Markets Analysis and Profiles of Leading Players PayPal, Western Union Financial Services, Wise Payments, Remitly, WorldRemit, Revolut & More

Published

on

money-transfer-apps-industry-worth-$47.67-billion-by-2029-–-regional-markets-analysis-and-profiles-of-leading-players-paypal,-western-union-financial-services,-wise-payments,-remitly,-worldremit,-revolut-&-more

Global Money Transfer App Market

Continue Reading
Advertisement
 title=
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE