Graph Blockchain Receives Conditional Approval to List on CSE

Graph Blockchain, a joint venture between Datametrex AI (TSXV:DM) and Bitnine, has received conditional approval to list its shares on the Canadian Securities Exchange (CSE).

Announced on Monday (October 29) by Datametrex, following approval from the CSE, Graph Blockchain will complete a reverse takeover transaction (RTO) action between Graph Blockchain and Reg Technologies.

Under the company name of Graph Blockchain, the combined companies will then trade under ticker symbol “GBLC.”

“We’re very excited about getting the conditional approval letter from the CSE,” Peter Kim, pending CEO of Graph Blockchain, said in the release. “There’s been a lot of diligent work put in on a number of fronts, including the going-public process, in conjunction with raising capital, all while executing on the core business growth of the company, and it’s always great to see successful execution come together.”

Under the terms of the RTO, Graph Blockchain will complete a non-brokered private placement for gross proceeds of at least C$1 million at C$0.30 per share. Each share consists of one Graph Blockchain share and one common share purchase warrant. The warrants can be exercisable into one share of Graph at a price of C$0.40 for up to 18 months from closing.

Shareholders approved Graph Blockchain’s motion to go public through the RTO with Reg Technologies, in addition to the private placement, in a special shareholders’ meeting held in early September.

“[The interest we’ve seen for a concurrent private placement is terrific,” Kim said in the September release. “It really goes to show that investors are looking to participate in the success of leading-edge blockchain data management companies.”

Graph Blockchain provides private blockchain solutions for organizations and government agencies. The company uses IBM’s (NYSE:IBM)’s Hyperledger blockchain in addition to Bitnine’s AgensGraph database, which has a control tower and user interface dashboard development capabilities.

Graph Blockchain’s technology also has a graph database where data can be computed faster than a traditional database thanks to blockchain. The company’s blockchain and graph database are driving forces behind its platform, which has four patents currently pending in the US and South Korea.

Of course, listing on the CSE is subject to listing conditions and in addition to Graph Blockchain completing all filing requirements and receiving final approval from the exchange.

It is expected that Graph Blockchain will complete the RTO sometime during the week of November 5.

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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article. 

Editorial Disclosure: Graph Blockchain is a client of the Investing News Network. This article is not paid-for content.

Subsequent to this press release, Graph Blockchain went public on November 9, 2018 under the ticker symbol CSE:GBLC.