Malbex Resources to undertake Change of Business to Merchant Banking with a focus on the Cryptocurrency and Blockchain Sectors

Malbex Resources (TSXV:MBG) has announced that it has entered into a letter of intent dated January 8, 2018 to complete change of business transaction pursuant to polices of the TSX Venture Exchange with Samara Capital and become a merchant banking and financial advisory company focused on small-cap markets, with investments in cryptocurrencies and blockchain.
As quoted in the press release:

Under the proposed Transaction, the Company intends to retain 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 proposed 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. It is expected that, after completion of the Transaction, Malbex will qualify for listing on the Exchange as a Tier 1 or Tier 2 Investment Issuer.
“The emerging cryptocurrency sector provides a new financial tool for portfolio diversification. It is difficult for individual investors to gain exposure to cryptocurrencies and to securely hold, trade and value those currencies. We believe this to be an exciting opportunity for Malbex shareholders to participate in the cryptocurrency and blockchain sectors,” commented Joe Hamilton, outgoing CEO of Malbex.

Click here to read the full press release.