Blockmate Ventures to Divest Midpoint Business

Blockmate Ventures to Divest Midpoint Business

Blockmate Ventures Inc (TSX.V: MATE) (FSE: 8MH1) (" Blockmate " or " the Company ") advises that yesterday, September 21, 2023, it entered into a binding agreement to divest its Midpoint foreign exchange business.

The 100% sale of Midpoint to David Wong for a nominal figure will allow Blockmate to focus all of its resources towards the blockchain, battery and clean energy ventures within its portfolio. By divesting Midpoint, Blockmate is expected to reduce its net cash outflows by approximately $500,000 per annum.

Justin Rosenberg, CEO of Blockmate, said: "Blockmate is focused on building fast growing technology businesses and we have identified exciting opportunities in the climate and energy storage sectors. The sale of Midpoint frees up our resources to pursue those opportunities. We wish David and the rest of the Midpoint team every success."

The offer from Mr Wong came after negotiations between Blockmate and Klearium Inc to acquire 85% of Midpoint Group concluded without a binding agreement.

Pending approval from the TSX Venture Exchange, settlement of the transaction is expected to take place on or before October 31, 2023.

No finders' fees or commissions are payable in connection with the transaction.

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
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.


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 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.

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
Blockmate Ventures Announces Webinar

Blockmate Ventures Announces Webinar

Blockmate Ventures Inc (TSX.V: MATE) (FSE: 8MH1) (" Blockmate " or the " Company ") announces that it is convening a webinar to discuss the acquisition of BESS Power Innovation Corp, announced yesterday.

The webinar will include a presentation by Blockmate CEO, Justin Rosenberg and BESS CEO, Broderick Gunning. They will provide a summary of the acquisition and immediate plans for the business. A Q&A session with investors will follow the presentation.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
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.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Blockmate Announces Board Changes

Blockmate Announces Board Changes

Blockmate Ventures Inc (TSX.V: MATE) (FSE: 8MH1) (OTCQB: MATEF) ("Blockmate" or the "Company") announces that Mr David Wong has resigned as Chairman and Director of Blockmate effective today.

The Board would like to thank Mr Wong for his many years of service to the Company and wishes him well in his future endeavours.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
RecycLiCo and Nanoramic Collaboration Selected for Award Negotiations Under the DOE Advanced Energy Manufacturing and Recycling Grant Program

RecycLiCo and Nanoramic Collaboration Selected for Award Negotiations Under the DOE Advanced Energy Manufacturing and Recycling Grant Program

RecycLiCo Battery Materials Inc. ("RecycLiCo"), listed on TSX.V: AMY, OTCQB: AMYZF, FSE: ID4, a leader in sustainable lithium-ion battery recycling, and Nanoramic Laboratories ("Nanoramic"), a leader in innovative energy storage technology, are pleased to announce that the DOE Advanced Energy Manufacturing and Recycling Grant Program has selected Nanoramic for award negotiations with RecycLiCo as a partner and collaborator on the grant. This partnership marks another step forward in promoting sustainable practices in the lithium-ion battery industry.

RecycLiCo's technology is focused on the recycling and upcycling of lithium-ion battery waste into battery-grade products, such as lithium chemicals and precursor cathode active material (pCAM). This process is in sync with Nanoramic's expertise in electrode production, paving the way for a circular economy in battery manufacturing. Under this collaboration, RecycLiCo will process production scrap from Nanoramic's demonstration line, aiming to produce pCAM and lithium chemicals that adhere to Nanoramic's battery-grade specifications, ready for use in new battery manufacturing.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Klimat X Announces Its High-Level Participation in COP28 UAE UN Climate Change Conference

Klimat X Announces Its High-Level Participation in COP28 UAE UN Climate Change Conference

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

Klimat X Developments Inc. ("Klimat X" or the "Company") (TSXV: KLX) (FSE: Q1C) a leading provider of high-quality carbon credits sourced exclusively from afforestation and reforestation projects developed and owned by the Company and its stakeholders, is pleased to announce that company Co-Founder, Kevin Godlington will participate in the COP28 conference in Dubai within the 'blue zone', typically restricted to only UNFCCC-accredited participants such as world leaders and government delegates. It hosts the formal negotiations across the two weeks of the conference, as well as the World Climate Action Summit, the country pavilions and presidency events. This participation allows the company full access to the Conference of Parties with the goal of showcasing the Company's leadership in forest and mangrove conservation and restoration projects. The Company is actively seeking partnerships in new jurisdictions to expand its pipeline of projects.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
NorthStar Gaming to Host Live Corporate Webinar on December 6th at 2pm ET

NorthStar Gaming to Host Live Corporate Webinar on December 6th at 2pm ET

  • NorthStar Gaming's CEO, Michael Moskowitz, will be hosting a webinar to introduce the Company and discuss current operations and upcoming milestones, followed by live Q&A. You may submit your question(s) beforehand in the registration form linked below.
  • Investors and other interested parties invited to join and learn more about NorthStar's sports media and wagering platform.

NorthStar Gaming Holdings Inc. (TSXV: BET) ("NorthStar" or the "Company") is pleased to announce the engagement of U.S.-based corporate communications firm RB Milestone Group LLC ("RBMG") to provide investor relations services. In connection with the engagement, the Company's CEO, Michael Moskowitz, will be presenting an overview of the Company, including an in-depth discussion into current operations and milestones while also providing an outlook for 2024 at a corporate webinar on December 6. We invite all investors and other interested parties to register for the webinar at the link below.

Date: Wednesday, December 6th, 2023
Time: 2:00 pm ET
Register: Webinar Registration

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Food Service Executive Steve Sands Joins Bion's Advisory Group

Food Service Executive Steve Sands Joins Bion's Advisory Group

Bion Environmental Technologies, Inc. (OTC QB: BNET), a developer of advanced livestock waste treatment technology and premium sustainable beef, announced today that Steve Sands will join Bion's Advisory Group, effective immediately.

Steve most recently served as President of Protein Brands for Performance Foodservice, one of the largest food service distributors in the U.S. He is a highly regarded foodservice industry veteran with over 40 years of experience in all phases of the meat business. His experience and relationships will be invaluable in his role with Bion, where he will advise Bion's CEO to help build a supply chain and marketing strategy for the sustainable beef produced by Bion and its strategic partners.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
RecycLiCo and Nanoramic Announce Key Advancements in Sustainable Lithium-Ion Battery Recycling Collaboration

RecycLiCo and Nanoramic Announce Key Advancements in Sustainable Lithium-Ion Battery Recycling Collaboration

Following the recent announcement of strategic collaboration, with the goal of optimizing the complete life cycle of lithium-ion batteries, RecycLiCo Battery Materials Inc. ("RecycLiCo"), TSX.V: AMY, OTCQB: AMYZF, FSE: ID4, and Nanoramic Laboratories ("Nanoramic") are pleased to disclose successful results from their lithium-ion battery cathode recycling collaboration.

RecycLiCo's laboratory test results have demonstrated that their recycling process can efficiently treat Nanoramic's innovative NMP-free and PVDF-free electrodes without concern. Notably, Nanoramic's electrodes can be recycled with fewer processing steps compared to conventional PVDF-based electrodes, resulting in energy and resource savings.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
RecycLiCo Receives Approval from Taiwan Department of Investment Review for Battery Recycling Joint Venture

RecycLiCo Receives Approval from Taiwan Department of Investment Review for Battery Recycling Joint Venture

RecycLiCo Battery Materials Inc. (" RecycLiCo " or the " Company "), (TSX.V: AMY | OTCQB: AMYZF| FSE: ID4) a pioneer in the field of sustainable lithium-ion battery recycling technology, is proud to announce that it has received investment approval from the Taiwan Department of Investment Review for its 5050 joint venture with Zenith Chemical Corporation. The joint venture company, named Recyclico Zenith Battery Materials Technology Co., solidifies a significant partnership in the Company's expansion within the Asian market.

Following the comprehensive and thorough approval process by the Taiwan Department of Investment Review, RecycLiCo has committed to an initial capital injection of NTD 24,000,000. This initial investment lays the foundation for the project, with subsequent investments to be determined by the joint venture company as needed throughout the construction and commissioning phases.

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

×