Malbex Resources Completes Change of Business to focus on Cryptocurrency and Blockchain Sectors

Malbex Resources (TSXV:MBG) has announced it has closed its change of business transaction pursuant to polices of the TSX Venture Exchange with Samara Capital to begin focus on investments in the cryptocurrency and blockchain sectors.

As quoted in the press release:

The Transaction constitutes a Change of Business within the meaning of the TSX Venture Exchange (“TSXV“) policies. In connection with the Transaction, the Company has filed a filing statement dated May 28, 2018 (the “Filing Statement“). Additional information about the Transaction, as well as further disclosure about Malbex can be obtained from the Company’s Filing Statement filed on SEDAR at www.sedar.com.

Pursuant to the Transaction, the Company has retained Samara to provide the services of Ben Cubitt as the new Chief Executive Officer of Malbex to develop, manage and carry on the New Business pursuant to the terms of a management services agreement to be entered into between Malbex and Samara (the “Management Services Agreement“) and a board approved investment policy (the “Investment Policy“).

Pursuant to the Investment Policy, the primary investment targets will be cryptocurrency and financial instruments or products with exposure to cryptocurrency, and investments in public or private corporations, partnerships or other legal entities which own, or propose to own cryptocurrency or blockchain technology and/or cryptocurrency mining operations and projects. The investment activities may be passive or Malbex may take an active role in the business of companies in which it has equity positions through the provision of strategic advice, board representation and/or other means.

Click here to read the full press release.