CSE Conditionally Approves Listing of BLOK Technologies Inc. and Closing of Acquisition of 10375977 Canada Inc.
VANCOUVER, British Columbia - January 31, 2018 (Investorideas.com Newswire) Aida Minerals Corp. ("AMC" or the "Company") (CSE:AMC) (FRANKFURT:2AD) and 10375977 Canada Inc. ("Greenstream") are pleased to announce that the Canadian Securities Exchange (the "CSE") has conditionally approved the listing of the common shares of BLOK Technologies Inc. ("BLOK Tech") under the trading symbol "BLK". BLOK Tech is the resulting issuer that was created from the previously announced 100% acquisition of Greenstream with AMC (the "Transaction").
Listing of BLOK Tech's common shares is subject to, among other things, satisfaction of the customary listing conditions of the CSE and the completion of the Transaction which has now been completed as contemplated in the agreement dated November 29, 2017 between AMC and Greenstream. Subject to satisfaction of these and other conditions, a subsequent announcement will be made regarding the expected date for the commencement of trading.
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A listing statement describing BLOK Tech, prepared in accordance with the policies of the CSE, will be made available on SEDAR at www.sedar.com. The information regarding BLOK Tech and the Transaction in this press release is qualified in its entirety by reference to the more detailed disclosure included in the listing statement.
"We are at the right place at the right time," said James Hyland, interim CEO of Aida Minerals. "The timing couldn't be better to bring a blockchain-based supply chain management platform like Greenstream to market with upcoming legalization of cannabis in Canada in July 2018. Blockchain-based supply chain management employs a secure distributed ledger, an approach that will be the future of compliance. By bringing the best of the sector's blockchain developers at Greenstream together with emerging technologies, we are poised to lead the change in cannabis supply chain management."
About Aida Minerals Inc.
Aida Minerals Inc. is a public company that invests in and develops emerging companies in the blockchain technology sector. The Company has received conditional approval on its first acquisition and will subsequently change its name to BLOK Technologies Inc. The Company's approach is to provide capital, technology and management expertise to the companies it develops, starting in the cannabis supply chain management sector. Aida's process is to identify early-stage technologies with potential to disrupt and innovate within their industry and provide them with the necessary capital, resources and expertise to ensure the success of their projects.
Greenstream is engaged in the development of a blockchain-enabled supply chain management platform for the legalized cannabis industry. The federal government has laid out a roadmap to have cannabis legalized nationwide by July 2018. With this in mind, Greenstream is in the process of developing a technology architecture to address the supply management needs for this new regulatory environment, providing the industry the ability to manage from 'seed to sale'. The Greenstream architecture calls for three layers of development including: smart contract processing, POS and ID database integrations and integration with existing inventory management and enterprise management platforms. When fully deployed, there will be multiple stakeholders for the Greenstream platform, including: licensed producers, distributors, government regulators, dispensaries, and software providers.
For further information, please contact:
James Hyland, B.Comm.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO, Director
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company's control.
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