Calyx (TSXV:CYX) Immediately Expands #Crypto-Mining and #Blockchain Validation Operations
VANCOUVER, British Columbia - December 4, 2017 (Investorideas.com Newswire) Calyx Bio-Ventures Inc. (TSXV:CYX) ("Calyx" or the "Company") is pleased to announce that its wholly-owned subsidiary Canada Blockchain Hosting Corp ("CBH") a Vancouver based blockchain computing company is immediately expanding its newly-acquired cryptocurrency mining and blockchain data validation operation in Kamloops, British Columbia.
This is a continuation of the Company's primary initiative to expand its cryptocurrency mining and distributed computing platform at an accelerated rate into the Company's existing blockchain business model. This additional computing and hash power will allow CBH to immediately increase its revenues and also significantly enhance the Company's ability to support the expansion of its private blockchain ecosystem.
The next phase of the Company's cryptocurrency procurement strategy will be to purchase a large quantity of ASIC miners for installation into the Vancouver computing facility.
The Company also announces that its board of directors has approved a change of the Company's name to "Calyx Ventures Inc." in order to better align with the Company's long term growth strategy. Completion of the change remains subject to the approval of the TSX Venture Exchange, and the Company will issue a further news release confirming the effective date for the change.
"This is another exciting step in the execution of the Company's strategic growth plan and we could not be any more pleased with the progress" commented Roger Forde, President & Chief Executive Officer of the Company. "The first phase provided us with a testing ground to streamline our blockchain technology currently being developed for the cannabis e-commerce space, but as we scale out the cryptocurrency mining operation, we will continue to generate unallocated revenues to be used in further business expansion."
Calyx operates through two wholly-owned subsidiaries. Cannigistics Agri-Solutions Corp is a software development company that has created a software platform originally designed for advanced indoor agriculture, but has now evolved to serve a wider range of industries. Canada Blockchain Holdings Corp. is a company operating in blockchain technologies and crypto currencies. Additionally, Calyx owns a portfolio of proprietary intellectual property with applications in crop enhancement, as well as messaging software assets.
For further information about Calyx, please visit www.calyxbio.com or contact:
President and Chief Executive Officer
Calyx Bio-Ventures Inc.
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.
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