BlockChain aims to go public

BlockChain Innovations Corp. aims to go public as US Supreme Court overturns sports betting ban.

US.- BlockChain Innovations Corp. – an international blockchain technology supplier serving the regulated gaming industry – has signed a letter of intent with Capricorn Business Acquisition Inc. for its qualifying transaction to go public in the third quarter of 2018. With the 6-3 United States Supreme Court decision striking down a 1992 law prohibiting such gambling outside of Nevada, the American Gaming Association estimated there is over US$250 billion wagered annually in the US.

FMI Capital Advisory Inc., (a sister company to Foundation Markets Inc. – a Toronto-based merchant/investment banking group) has been engaged to act as an exclusive financial advisor to BCI and FMI has been engaged as a financing agent to complete a capital raise via private placement. The raise will target strategic and institutional investors, and the net proceeds will be used to invest in the Company’s technology and product development, marketing & brand awareness, and working capital.

The planned go-public transaction will make BCI the first on-blockchain wagering public company in the world to serve the regulated and player-to-player gaming industries in the United Kingdom, Europe, United States and gaming jurisdictions worldwide. BCI will announce further details pertaining to the go-public transaction in due course.

BCI’s CEO Matt Stafford commented: “With the United States sports betting market opening and the go-public transaction set for the Third Quarter, BCI can bring its gaming-by-design blockchain technology to several regulated gaming markets, I want to extend a sincere thanks to all our investors for making this milestone in BCI’s history possible.”

Adam Szweras, Chairman of Foundation Markets also commented: “BCI continues Foundation Market’s proven track record of successfully backing companies in the emerging high growth industries. We are excited to be a part of BCI’s one-of-a-kind market-ready blockchain technology.”