Blockmate Ventures Completes Sale of Midpoint Business

Blockmate Ventures Completes Sale of Midpoint Business

Blockmate Ventures Inc (TSX.V: MATE) (FSE: 8MH1) (" Blockmate " or the " Company ") announces that it has completed the divestiture of Midpoint (see www.midpoint.com ), its cross-border payments and foreign exchange business to the management team, led by Mr David Wong, Expadis and its group of investors (" Midpoint Management "). In consideration for the divestiture, Midpoint Management will assume responsibility for all liabilities and obligations associated with the business as well as operational expenses associated with maintaining its operations.

The divestiture will allow the Company to focus on higher growth technology investments, and is expected to reduce annual net cash outflows by approximately $500,000. The Company is at arms-length from Mr. David Wong, and no finders' fees or commissions were paid in connection with completion of the divestiture.

Justin Rosenberg, CEO of Blockmate said "We wish David and the rest of the Midpoint team every success as they take Midpoint forward. This sale allows Blockmate to better capitalise on the exciting trajectory of its current assets in the fast growing sectors of blockchain and climate technology: Hivello and BESS Power Innovation Corp (subject to exchange approval). We expect to update the market with progress in both companies within the next couple of months."

About BESS Power Innovation Corporation
BESS is a company focused on the sales and distribution of residential and industrial lithium iron phosphate batteries and auxiliary products. BESS owns the exclusive distribution rights to Blivex Energy Technology Co's ("Blivex") lithium battery products for North and South America and intends to address demand for residential and industrial battery products where expected delivery times for certain products exceeds 12 months. BESS anticipates that equivalent Blivex battery products can be delivered within 1-3 months from the time of order.

About Blockmate Ventures Inc.
Blockmate Ventures is a venture creator focussing on building fast growing technology businesses relating to cutting edge sectors such as blockchain, climate and energy storage. Working with prospective founders, projects in incubation can benefit from the Blockmate ecosystem that offers tech, services, integrations and advice to accelerate the incubation of projects towards monetization. Recent projects include Hivello (download our free passive income app at www.hivello.com ) and Sunified, digitising solar energy.

The leadership team at Blockmate Ventures have successfully founded successful tech companies from the Dotcom era through to the social media era. Learn more about being a Blockmate at: www.blockmate.com .

Blockmate welcomes investors to join the Company's mailing list for the latest updates and industry research by subscribing at https://www.blockmate.com/subscribe .

ON BEHALF OF THE BOARD OF DIRECTORS

Justin Rosenberg, CEO David S. Wong, CMT CAIA CMGr, FCMI
Blockmate Ventures Inc Midpoint
justin@blockmate.com david@midpoint.com , 31337@skiff.com
(+1-888-218-6863) (44 20 3687 2934)


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Forward-Looking Information
This news release contains "forward-looking statements" or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on the assumptions, expectations, estimates and projections as of the date of this news release. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. 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. Raindrop disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

MATE:CA
Blockmate Ventures

Blockmate Ventures Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Blockmate Ventures (TSXV:MATE)

Blockmate Ventures


Keep reading...Show less
Blockmate Investor Briefing Replay

Blockmate Investor Briefing Replay

Blockmate Ventures Inc (TSX.V: MATE) (OTCQB: MATEF) (FSE: 8MH1) (" Blockmate " or the " Company ") has published a recording of the investor briefing held on 5 February 2024 on its website.

The briefing included presentations from CEO Justin Rosenberg and Chairman Domenic Carosa, outlining plans for Hivello after it successfully closed a USD $2.5 million fundraising round.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Blockmate Ventures Investor Briefing

Blockmate Ventures Investor Briefing

Blockmate Ventures Inc (TSX.V: MATE) (OTCQB: MATEF) (FSE: 8MH1) (" Blockmate " or the " Company ") announces that it will be hosting an online briefing to provide investors with a progress update on Blockmate investee Hivello that raised USD$2.5m as announced yesterday.

The funding was secured as a Simple Agreement for Future Equity (SAFE) instrument fundraising round. Once converted, the post-money implied valuation of Blockmate's 67% stake is USD $6.7 million (CAD $8.9 million) or 8.1 cents per Blockmate share 1 .

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Blockmate Investee Hivello Successfully Raises USD $2.5M

Blockmate Investee Hivello Successfully Raises USD $2.5M

Blockmate Ventures Inc (TSX.V: MATE) (OTCQB: MATEF) (FSE: 8MH1) (" Blockmate " or the " Company "), an innovative investment firm in the blockchain technology space, proudly announces that its investee, Hivello Holdings, has secured a further USD $1.5 million after receiving strong interest from investors following the announcement of a USD $1 million raise in December 2023.

Due to the overwhelming interest, of the additional USD $1.5 million, USD $1 million was raised at a pre-money valuation of $9 million - an 80% premium to the round which just closed in December 2023. The additional $1.5 million brings the total raised to $2.5 million. The funding was secured as a Simple Agreement for Future Equity (SAFE) instrument fundraising round. Consequently once converted, the post-money implied valuation of Blockmate's 67% stake is USD $6.7 million (CAD $8.9 million) or 8.1 cents per Blockmate share 1 .

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Blockmate Investee Hivello Successfully Raises USD$1M

Blockmate Investee Hivello Successfully Raises USD$1M

Blockmate Ventures Inc (TSX.V: MATE) (OTCQB: MATEF) (FSE: 8MH1) (" Blockmate " or the " Company "), an innovative investment firm in the blockchain technology space, proudly announces that its 100% owned subsidiary, Hivello Holdings, has successfully completed a USD$1 million capital raise. This Simple Agreement for Future Equity (SAFE) instrument fundraising round places a pre-money valuation cap on Hivello at USD$5 million. Consequently once converted, the post-money valuation of Blockmate's stake is an estimated USD$4 million (CAD 5.3 million).

Justin Rosenberg, CEO of Blockmate Ventures, commented, "We are thrilled to now have a cap table with leading investors in the Decentralized Physical Infrastructure Networks (DePIN) sector such as NGC Ventures, Blockchain Founders Fund, Side Door Ventures, IDG, Bing Ventures, MEXC Exchange, XT.com Exchange, Genesis Block, and NxGen. The successful capital raise by Hivello is a significant validation of our investment strategy and Blockmate's ability to recognize and nurture potential within the blockchain industry. The value of our stake alone is higher than our entire market cap, providing an excellent opportunity for investors."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
BLOCKMATE - BESS Webinar Replay

BLOCKMATE - BESS Webinar Replay

Blockmate Ventures Inc (TSX.V: MATE) (FSE: 8MH1) (" Blockmate " or the " Company ") has published a replay of the special webinar briefing hosted on November 1, 2023, to its website.

The webinar included a presentation from Blockmate CEO, Justin Rosenberg, who presented on the strategic direction of Blockmate, should the acquisition of BESS Power Innovation Corp ("BESS") be approved by the TSX. BESS is a company focused on the sales, distribution, and manufacturing of lithium batteries. After his presentation, Mr Rosenberg fielded questions from investors.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
NorthStar Gaming Builds upon its Industry-Leading Content Vertical with Launch of "Sports Insights 2.0"

NorthStar Gaming Builds upon its Industry-Leading Content Vertical with Launch of "Sports Insights 2.0"

NorthStar Gaming Holdings Inc. (TSXV: BET) ("NorthStar" or the "Company") today announced that it is enhancing its industry-leading Sports Insights content throughout 2024 with new features, design, stats and a smoother user experience.

NorthStar's Sports Insights product is a key differentiating feature that supports the Company's position as a premium brand and industry leader at the intersection of betting and sports media. The content includes analysis of upcoming events, betting strategies and helpful tips. Since Sports Insights is integrated directly within NorthStar's sportsbook, users can wager directly from the content without leaving the betting environment.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Bitcoin Well Provides Preliminary Year End Update and Bitcoin Super Company Vision

Bitcoin Well Provides Preliminary Year End Update and Bitcoin Super Company Vision

Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence announces a preliminary, unaudited year end update and the "bitcoin super company" vision.

Key highlights

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Lake Resources NL  Presenting at the Bell Potter Unearthed Natural Resources Conference

Lake Resources NL Presenting at the Bell Potter Unearthed Natural Resources Conference

Sydney, Australia (ABN Newswire) - Lake Resources (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF), the responsible lithium developer, announces that management will present at the Bell Potter Unearthed Natural Resources Conference, a virtual event which began on 12 February and will continue through 15 February, from 9:00 a.m. to 6 p.m. AEDT.

Lake CEO, David Dickson will present to investors on 14 February at 9:50 a.m. AEDT.

Dickson will discuss challenges and opportunities within the lithium sector as well as provide an update on the strategic delivery of Lake's Flagship Kachi project located in the heart of Argentina's Lithium Triangle.

The presentation will be available on the Lake Resources website.

Lake also wishes to congratulate its technology and Kachi project partner, Lilac Solutions, for its successful Series C capital raise to support the continued scaling up of proven technology.

Lilac raised US$145m with support from Mercuria, Lowercarbon Capital, Breakthrough Energy Ventures, Engine Ventures, T. Rowe Price, Sumitomo, Emerson Collective, Mitsubishi and The Nature Conservatory.

For more information or to register to attend the virtual conference, visit:
https://www.abnnewswire.net/lnk/160Q17E0

To view the Presentation, please visit:
https://www.abnnewswire.net/lnk/F7HDJ8UZ



About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.



Source:
Lake Resources NL

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
Klimat X Announces Joint Venture Agreement Terms with Imperative Global Projects for Yucatan Mangrove Project

Klimat X Announces Joint Venture Agreement Terms with Imperative Global Projects for Yucatan Mangrove Project

KLIMAT X Developments Inc. Logo (CNW Group/KLIMAT X Developments Inc.)

Klimat X Developments Inc. ("Klimat X" or the "Company") (TSXV: KLX) (FSE: Q1C) is a leading provider of high-quality technology-enabled carbon credits sourced exclusively from conservation and reforestation carbon projects developed and owned by the Company and its stakeholders, is pleased to announce it has signed a binding Heads of Agreement with Imperative Global Projects Pte Ltd ( Imperative ) to jointly develop the large-scale mangrove restoration project in the State of Yucatan, Mexico secured and previously announced by Klimat X.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Lake Resources NL  JORC Update

Lake Resources NL JORC Update

Sydney, Australia (ABN Newswire) - Clean lithium developer Lake Resources N.L. (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) reports that drilling completed at the Kachi Lithium Brine Project ("Kachi" or the "Project") in Catamarca Province, Argentina continues to intercept lithium bearing brine in sand units favourable to extraction over thick intervals in the southern portion of central resource area.

The K25D44 drillhole (Figure 1* and Figure 2*) was not completed in time to be incorporated into the Project's Definitive Feasibility Study (DFS) for Phase One, released in December 2023. However, the results from the drillhole confirm the presence of higher-grade lithium brine south of the central resource area to a depth of more than 600 m. The results further support the positive hydrogeological modelling results that were the basis for the Project Ore Reserve and Definitive Feasibility Study (DFS) submitted in December 2023. The DFS highlights include:

- Total resource is estimated at 10.6 Mt LCE, a globally significant resource.

- 25-year life of mine (LoM) supported by maiden Ore Reserve statement.

- Phase One targets a production of 25,000 tonnes per annum (tpa) over the LoM to meet the growing demand and specifications of the battery market.

- The 25,000 tpa operation recovers only a small fraction of the Measured and Indicated Resource, which allows Lake to study further expansions.

- DLE process tailored to mitigate impact on the local community with minimal disruption to land, freshwater table, and water usage.

- The Project targets production of consistent battery grade lithium carbonate (>99.5% purity) at site without the need for further refining or processing.

- Kachi is targeting first lithium in 2027 with ramp-up to full capacity by the end of 2028, which is forecast to coincide with the start of a prolonged period of structural deficit for battery grade lithium chemicals.

Drillhole results prove the continuity of higher-grade lithium brines, south of the Phase One DFS extraction wellfield design and across a northwest-southeast trending fault that is interpreted to create the escarpment south of the field. The relatively high lithium and favourable geologic materials grades beyond the planned DFS wellfield highlight continued favourable results for a higher capacity wellfield.

"The latest drilling intercept further demonstrates the vertical continuity of the lithium bearing brine to more than 600 metres in clean, fine and medium grained sands conducive to high productive extraction wells." commented Michael Gabora, Director of Geology and Hydrogeology of Lake Resources. He continued, "With an average of 257 mg/L through the production zones, the K25D44 hole continues the trend of intercepting lithium grades that are significantly higher than the 205 mg/L design basis of the DFS".

Continuation of Higher-Grade Lithium Resource Intercepts to the South

The principal objectives of the K25D44 (K25 Platform) drillhole were to:

1) Test the continuity of the lithium resource to the south, outside of the footprint of the salar;

2) Expand the Measured Resource to the south and potentially connect the Measured Resource to previous positive lithium intercepts at K21 (Figure 1*);

3) Complete additional sampling and analysis of the deeper portion of the unconsolidated deposits from about 400 m to more than 600 m depth; and,

4) Validate lithium concentrations used in the area of K25 in the Ore Reserve analysis completed with the calibrated hydrogeologic model.

K25D44 was drilled about 2.25 kilometres southwest of K16D28 (K16 Platform; Figure 1*) and has an average lithium grade of 219 mg/L from 19 samples collected between 40 and 622 m below ground surface (bgs) (Table 1*). All but two samples were collected with single packer configurations generally with a test interval of about 10 to 15 m, although this varied depending on hole conditions. Standard operating procedures are followed with significant development of the test interval, at least 3 borehole volumes (measured from surface to hole bottom), and sampling only occurs once brine is clear and field chemistry parameters are stable and indicative of reservoir fluids.

A standpipe piezometer was installed and screened between 418 to 430 m below ground surface and was developed and sampled via airlifting. Results for the airlift sample are consistent with the packer testing within the same interval, with 275 mg/L measured by SGS and 248 mg/L measured by Alex Stewart laboratory, for an average of 261 mg/L compared to 263.5 mg/L for a packer collected sample from 424 to 430 m below ground surface (see Table 1*).

The fine to medium-grained sand (Figure 3* and Figure 4*) and low frequency of fine-grained layers within the planned production horizons (i.e., approximately 200 m to 600 m) are consistent with drillholes in the central resource area and both stratigraphy and general chemistry support the continuity of the lithium brine resource throughout the southern portion of the field.

As has been observed in the other greater than 600 m deep drillholes completed to-date, the lithium brine continues to a depth of more than 600 m. Lithium concentrations deeper than 400 m averaged more than 250 mg/L, far exceeding the design basis for the DFS (205 mg/L).

The modelled lithium concentration in the Project Ore Reserve8 at K25 was 268 mg/L (200 m to 600 m) within the production horizon. The weighted average of the laboratory results through the same interval (215 m to 622 m) is 271.7 mg/L. This indicates that the modelled values are representative, if not slightly conservative, relative to the measured data in the field at this location. The results of the comparison further build confidence in the lithium resource model used as the basis for lithium distributions within the hydrogeological model and Ore Reserve modelling.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/UOL27931



About Lake Resources NL:

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina among three other projects covering 220,000 ha.

This ion exchange extraction technology delivers a solution for two rising demands - high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits.



Source:
Lake Resources NL

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
RecycLiCo Battery Materials Announces Zarko Meseldzija resigns from the Board of Directors

RecycLiCo Battery Materials Announces Zarko Meseldzija resigns from the Board of Directors

RecycLiCo Battery Materials Inc. (" RecycLiCo " or the " Company "), TSX.V: AMY, OTCQB: AMYZF, FSE: ID4, hereby announces that Mr. Zarko Meseldzija has resigned from his position on the Board of Directors as of January 21, 2024. As previously communicated, Mr. Meseldzija will continue his association with the Company until March 1, ensuring a smooth transition.

About RecycLiCo

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Blockmate Ventures

Blockmate Ventures Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×