Graph Blockchain Completes Acquisition of New World
Toronto, Ontario – (Newsfile Corp. – July 5, 2021) – Graph Blockchain Inc. (CSE: GBLC) (OTC Rose: REGRF) (“Graphic“or the”Company“) is pleased to announce that following its dated press release June 1, 2021, the Company completed its acquisition of non-fungible art-focused tokens (“NFT”) Nouveau Monde Inc. (“New World“).
NFTs are unique files that live on a blockchain and are able to verify ownership of a digital artwork. Buyers get limited rights to display the digital artwork they represent, but they also buy rights to a digital asset that they may be able to resell later.
Pursuant to the share exchange agreement between the Company, New World and the shareholders of New World, the purchase price of $ 6,000,000 was settled by the issuance of a total of 46,153,846 units. (the “Units of consideration”) in the capital of the Company, at a deemed price of $ 0.13 per unit of consideration, each unit of consideration being composed of one common share and one common share purchase warrant. Each warrant entitles its holder to acquire one additional common share of the Company at an exercise price of $ 0.18 per share during the 24-month period following closing.
In addition, New World shareholders can earn additional milestone-based bonuses of up to $ 13,000,000, also payable in matching units based on a minimum net income of $ 1,500,000 at the end of the year. 2021, with a minimum net profit percentage of 25% and achieve a minimum net income of $ 6,000,000 by the end of 2022 with a minimum net profit percentage of 50%. New World shareholders can also earn an additional 15,000,000 ordinary shares of the Company, based on contractual relationships between New World and a minimum of 100 artists by December 31, 2021.
“Graph’s acquisition of New World gives us exposure to the quality art-driven NFT market, one of the fastest growing segments of the art world. NFTs provide a new platform for artists to digitally present their work, ”said Paul Haber, President and CEO. the company.
“The appeal of NFT art is that it allows artists and collectors to come in with each other that didn’t exist 10 months ago. Previously obscure artists are seeing sales skyrocket as hobbyist collectors expand their collections, ”said Andrew Ryu, president of the company.
Mike Winkelmann, a US-based digital artist, recently sold an NFT photo piece titled Everydays: the First 5000 Days for $ 69 million in March through Christie’s Auction House, becoming the third highest price paid for an artwork made by an artist who is still alive.
About Nouveau Monde Inc.
New World is an augmented reality art-focused NFT company that empowers creators, musicians, and celebrities to access an NFT distribution canvas to create and sell digital art. By selling digital art, artists can reach a larger market (both geographically and demographically) and, through blockchain, continue to benefit financially from economic participation in future sales. New World has built this platform and has already signed notable artists like Diogo Snow, who has produced numerous pieces for famous clients including Drake, and Fetty Wap, an American rapper, singer and songwriter with more than 6.5 million followers on Instagram, plus many more. Additional information about New World is available at http://newworldinc.io.
About Graph Blockchain Inc.
Graph Blockchain provides shareholders with exposure to various areas of decentralized finance. By focusing on altcoins through its wholly owned subsidiaries Babbage Mining Corp., a Proof of Stake (“POS”) miner and Beyond the Moon Inc., Graph provides investors with exposure to the large emerging market of cryptocurrencies with the significant technological disruptions and potential gains. altcoins represent. Additional information about the Company is available at www.graphblockchain.com and www.babbagemining.com.
For more information, please contact:
Email: [email protected]
Joshua Greenwald / Rich DiGregorio
Telephone: 646.379.7971 / 856.889.7351
Email: [email protected]
This press release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained in this document that are not clearly historical in nature may constitute forward-looking statements.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terms such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “Intended”, “believes”, “anticipates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or may contain statements that certain actions, events or results “may”, “could”, “would”, “could” or “will be taken”, “will continue”, “will take place” or “will be realized.” The forward-looking information and forward-looking statements contained in the This document includes, but is not limited to, statements regarding: the continued growth of the art-driven NFT market, the Company’s ability to provide New World shareholders with milestone payments of up to 13,000,000 $ of matching units; New World’s ability to achieve net sales $ 1,500,000 and a net profit percentage of 25% by the end of 2021; New World’s ability to achieve cumulative net sales of $ 6,000,000 and a minimum net profit percentage of 50% by the end of 2022; the Company’s ability to provide New World shareholders with an additional payment of 15,000,000 common shares by the end of 2021; and New World’s ability to identify and enter into contractual relationships with 100 artists by the end of 2021.
The forward-looking information contained in this press release is based on certain expected future assumptions and events, namely: the ability of the Company to obtain and regulatory approval for the acquisition of New World; the Company’s ability to continue to operate; the ability of New World to continue to operate; the Company’s ability to successfully integrate New World activities as planned; the continued commercial viability and growth of the art-driven NFT market; the continued popularity of the NFT market in general and the art-driven NFT market in particular; the continued non-regulation of the NFT market by the relevant government and / or regulatory authorities; the continued development of blockchain technology; the Company’s continued ability to pay milestone bonuses, including the potential payment of $ 13,000,000 in matching units and the potential issuance of an additional 15,000,000 common shares in the Company’s capital to shareholders from New World; and assumptions about New World’s ability to identify potential artists with whom to establish contractual relationships by the end of 2021.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to be limited to: the potential inability of the Company to continue as a business continuity; the potential inability of New World to continue to operate; the risks associated with the blockchain and NFT industry in general; increased competition in the art-driven NFT market; the potential future unsustainability of the NFT market in general, and the art-driven NFT market in particular; poor assessment of the value and potential benefits of various transactions; the risks associated with any government and / or regulatory measures concerning the NFT market; the risks associated with a potential collapse of the NFT market; risks associated with the Company’s potential inability to obtain board, shareholder and / or regulatory approval with respect to milestone bonus payments, including the potential payment of 13 $ 000,000 in matching units and the potential issuance of 15,000,000 additional common shares in the capital of the Company for New World Shareholders; New World’s inability to achieve a net income of $ 1,500,000 and a net profit percentage of 25% by the end of 2021 and a cumulative net income of $ 6,000,000 and a minimum net profit percentage of 50% by the end of 2022 due to various factors including: but not limited to: (i) the inability of New World to enter into contractual agreements with various artists, (ii) a potential market downturn NFT in general and / or the art-driven NFT market in particular, (iii) the risk of government regulation of NFTs and NFT transactions, and (iv) potential termination by government / regulatory authorities of all transactions NFT and subsequent cancellation of NFT transactions; and the risk that New World will not be able to identify and enter into contractual relationships with 100 artists by the end of 2021, due to time constraints and / or other constraints.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will be achieved. This information, although considered reasonable by management at the time of its preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company assumes no obligation to update or revise forward-looking statements, whether as a result of new information, estimates or opinions, of future events or results or otherwise or to explain any material difference between events. subsequent actuals and such forward-looking information, except as required by applicable law.
The CSE accepts no responsibility for the adequacy or accuracy of this release.
Neither the Canadian Securities Exchange nor its market regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89358