Further to its press release of October 6, Aida Minerals (CSE:AMC) wishes to clarify that the previously announced non-binding letter of intent to acquire 100 percent of 10375977, a blockchain technology company doing business as Greenstream will result in a fundamental change for Aida, pursuant to Canadian Securities Policy 8.
As quoted in the press release:
Accordingly, Aida will seek approval to the transaction from the Canadian Securities Exchange, including completing a Form 2A listing statement and filing the documents set out in CSE Policy 2 concurrently with filing the information circular in respect of an annual general and special meeting of shareholders to approve the transaction. The LOI will form the basis of a definitive agreement to be executed by both parties with a target closing date that remains subject to the receipt of the required regulatory and shareholder approvals.
Greenstream is engaged in the development of a blockchain-enabled supply chain management platform for the legalized cannabis industry. The federal government has laid out a roadmap to have cannabis legalized nationwide by July 2018. With this in mind, Greenstream is in the process of developing a technology architecture to address the supply management needs for this new regulatory environment, providing the industry the ability to manage from ‘seed to sale’. The Greenstream architecture calls for three layers of development including: smart contract processing, POS and ID database integrations and integration with existing inventory management and enterprise management platforms. When fully deployed, there will be multiple stakeholders for the Greenstream platform, including: licensed producers, distributors, government regulators, dispensaries, and software providers.