Blockmate Ventures to Acquire Lithium Battery Distributor, BESS

Blockmate Ventures to Acquire Lithium Battery Distributor, BESS

Blockmate Ventures Inc (TSX.V: MATE) (FSE: 8MH1) (" Blockmate " or " the Company "), is pleased to announce that it has entered into a binding Share Purchase Agreement dated October 25, 2023, pursuant to which the Company proposes to acquire all of the issued and outstanding share capital of BESS Power Innovation Corporation ("BESS"), a company focused on the sales, distribution, and manufacturing of residential and industrial lithium iron phosphate and lithium ion sodium batteries and auxiliary products ("the Transaction").

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.

Blivex has been developing, manufacturing, and selling industrial lithium batteries, electric vehicle batteries and related products since 2005, and is publicly listed on the Shenzhen Stock Market.

In consideration for the Transaction, Blockmate will issue 20,000,000 common shares (the "Consideration Shares") to the existing shareholders of BESS (collectively, the "Vendors"). The Consideration Shares are subject to restrictions on resale for 4 months and 1 day after completion of the Transaction. Pending approval from the TSX Venture Exchange, completion of the Transaction is expected to take place on or before November 31, 2023.

The grid-scale battery energy storage solutions market is expected to grow at over 24% pa from US$3b in 2020 to $15bn in 2027 [1] .

Commenting on the Transaction, Blockmate CEO Justin Rosenberg said, "Blockmate has been actively seeking venture opportunities in the clean energy space and is delighted to consummate our interest through this Share Purchase Agreement with the vendors of BESS. Commercial Issues around material sourcing and production delays have created a substantial opportunity for lithium battery producers in North America.

"Through this acquisition and the partnership BESS has with Blivex, there is an excellent opportunity to disrupt the industrial battery market in North America and South America." The team at BESS has an extensive track record in the energy transition industry in renewables, storage, and EV Charging. "It is our mandate to help governments and corporations embrace technologies that help them reduce their carbon footprint."

"With Blockmate's market cap still under $5m post this acquisition, this acquisition gives investors the lowest cost entry to access one of the fastest growing markets - the energy storage sector."

We are looking forward to working with the Blockmate team who have excellent success in identifying disruptive opportunities and early-stage investments. Their expertise and global networks will be highly beneficial to BESS as we expand our lithium battery distribution into North America, capable of delivering products in less than half the time as the market leaders.

"Beyond just distributing batteries manufactured in Asia to North America, the commercial opportunity to leverage Blivex's supply chain to manufacture battery products in North America and South America is one we are very excited to explore with Blockmate and the support of Blivex."

[1] Grand View Research, https://www.grandviewresearch.com/industry-analysis/grid-scale-battery-storage-market

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 has successfully founded successful tech companies from the Dotcom era through to the social media era.

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
Blockmate Ventures Inc
justin@blockmate.com
(+1-888-218-6863)

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.


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(TheNewswire)

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Enhanced content and added features strengthen a key NorthStar Bets differentiator

NorthStar Gaming Holdings Inc. (TSXV: BET) (OTCQB: NSBBF) ("NorthStar" or the "Company") today announced the launch across all NorthStar Bets online and mobile betting platforms of "Sports Insights 2.0," a robust set of enhancements and new features added to its industry-leading content vertical.

Sports Insights is a key differentiating feature that supports NorthStar's position as a premium brand and industry leader at the intersection of iGaming and media. A key pillar of Sports Insights' content offering is analysis of upcoming events, betting strategies, predictions and tips, with original articles produced daily by the Company's in-house team of sports writers. As announced this past February, NorthStar embarked on a significant enhancement of Sports Insights with upgrades and new features rolled out throughout 2024.

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Highlights of new features and tools introduced for Sports Insights 2.0 include:

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  • More casino content, including tips, strategies, game reviews and casino lifestyle articles.

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  • Enhanced coverage of popular betting sports such as soccer, NCAA football and CFL.

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Following the completion of this milestone, the Company will continue to make incremental enhancements to Sports Insights based on ongoing user feedback and an evolving product roadmap.

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About NorthStar

NorthStar proudly owns and operates NorthStar Bets, a Canadian-born casino and sportsbook platform that delivers a premium, distinctly local gaming experience. Designed with high-stakes players in mind, NorthStar Bets Casino offers a curated selection of the most popular games, ensuring an elevated user experience. Our sportsbook stands out with its exclusive Sports Insights feature, seamlessly integrating betting guidance, stats, and scores, all tailored to meet the expectations of a premium audience.

As a Canadian company, NorthStar is uniquely positioned to cater to customers who seek a high-quality product and an exceptional level of personalized service, setting a new standard in the industry. NorthStar is committed to operating at the highest level of responsible gaming standards.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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 press release.

Cautionary Note Regarding Forward-Looking Information and Statements

This communication contains "forward-looking information" within the meaning of applicable securities laws in Canada ("forward-looking statements"), including without limitation, statements with respect to the following: expected performance of the Company's business, expected benefits of the introduction of product innovations, and player engagement levels. The foregoing are provided for the purpose of presenting information about management's current expectations and plans relating to the future and allowing investors and others to get a better understanding of the Company's anticipated financial position, results of operations, and operating environment. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. This forward-looking information is based on management's opinions, estimates and assumptions that, while considered by NorthStar to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward- looking information. Such factors include, among others, the following: risks related to the Company's business and financial position; risks associated with general economic conditions; adverse industry risks; future legislative and regulatory developments; the ability of the Company to implement its business strategies; and those factors discussed in greater detail under the "Risk Factors" section of the Company's most recent annual information form, which is available under NorthStar's profile on SEDAR+ at www.sedarplus.com. Many of these risks are beyond the Company's control.

If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents NorthStar's expectations as of the date specified herein, and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

For further information:

Company Contact:
Corey Goodman
Chief Development Officer
647-530-2387
investorrelations@northstargaming.ca

Investor Relations:
RB Milestone Group LLC (RBMG)
Northstar@rbmilestone.com

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