Arbitrade Exchange Inc. to acquire Cryptobontix Inc.
NEW YORK, March 07, 2018 (GLOBE NEWSWIRE) -- Arbitrade, a cryptocurrency exchange and mining company, will acquire its partner company, Cryptobontix, in an acquisition that will be completed later this month.
Arbitrade's management, having built the board of both companies, will now operate both entities as one operation and will keep the same management and board of directors.
Cryptobontix is the owner/operator of five digital cryptocurrencies that will be backed by gold, other bullion, other cryptocurrencies and cryptocurrency mining. A spokesman for Cryptobontix explained it will tie traditional mining for bullion to cryptocurrency mining. The first four tokens in that which Cryptobontix refers to as their Ingot Family of Tokens is Dignity (DIG, formerly Unity Ingot UNY), Namaste (NAM), Orectic (ORE), and Honor (HNR). All four tokens will be backed by gold, silver, platinum and palladium respectively in the same order and have a locked dollar value of $1, $2, $3 and $4 consecutively. Each of these four tokens will commence operations starting with 5,000 mining rigs each and the company hopes to have all 20,000 in operation not later than May of this year.
Describing its mining formula a spokesperson said the company uses 50% of daily mined proceeds which is used to pay for the backing of the token whether bullion or alternative cryptocurrencies; meanwhile, 20% is used to purchase more mining rigs - which creates a growth factor - while 15% is used to support the token's markets and a further 15% is used for operational expenses.
The company expects to have over 1,500 cryptocurrency mining rigs operating online by April 1, 2018. At today's earnings and current cryptocurrency prices, the 1,500 mining rigs have the potential to generate approximately $250,000 per month according to the company's mining consultant. Given yesterday's announcement, Arbitrade is aggressively seeking as many cryptocurrency mining rigs as possible to fulfill all 40,250 rigs planning to officially launch entire operation.
ARBITRADE, through its proprietary software and strategic partnerships, plans to be in all segments of the cryptocurrency business, including currency mining, trading (The ARBITRADE Exchange) gift cards, debit cards, money transfer and Point of Sale processing.
Marston Webb International
T: (212) 684-6601, C: (917) 887-0418
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Arbitrade via Globenewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Følg saker fra GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra GlobeNewswire
Tenaris to Acquire IPSCO Tubulars from TMK22.3.2019 13:58:00 CET | Pressemelding
LUXEMBOURG, March 22, 2019 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE, Buenos Aires and Mexico: TS and MTA Italy: TEN) announced today that it has entered into a definitive agreement to acquire from PAO TMK, a Russian company and manufacturer of steel pipe, 100% of the shares of its wholly owned U.S. subsidiary IPSCO Tubulars, Inc., for US$1,209 million, on a cash-free, debt-free basis, which includes US$270 million of working capital. The transaction is subject to regulatory approvals, including approval by the U.S. antitrust authorities, and other customary conditions. IPSCO Tubulars is a U.S. domestic producer of seamless and welded OCTG and line pipe products, with an annual production capacity of 450,000 metric tons of steel bars, 400,000 metric tons of seamless pipe and 1,000,000 metric tons of welded pipe, and production facilities spread throughout the country. The acquisition would enhance Tenaris’s position and local manufacturing presence in the U.S. market, extending its produc
Oxford Immunotec Announces Chief Financial Officer Transition21.3.2019 21:01:00 CET | Pressemelding
OXFORD, United Kingdom and MARLBOROUGH, Mass., March 21, 2019 (GLOBE NEWSWIRE) -- Oxford Immunotec Global PLC (Nasdaq:OXFD) (the "Company"), a global, high-growth diagnostics company, today announced that Richard Altieri, the Company’s Chief Financial Officer (CFO), will retire on April 30, 2019. The Company has appointed Matthew McLaughlin, currently Chief Financial Officer, GE Healthcare – U.S. and Canada, as his successor. Mr. McLaughlin will join Oxford Immunotec as CFO on April 8, 2019. Today’s announcement concludes an extensive search process conducted by the Company. As part of the planned succession, Mr. Altieri, who has led Oxford Immunotec’s global finance organization as CFO since 2012, will remain an active member of the Company’s management team until his retirement date. “During his seven year tenure, Rick successfully managed multiple financing rounds, including the Company's IPO, the acquisition and financial integration of three companies and, most recently, the dives
Test Release - 3-21-2019 - 119240921.3.2019 20:29:00 CET | Pressemelding
Test Sub Headline - 1951992 Chicago, March 21, 2019 (GLOBE NEWSWIRE) -- Test Release™. Attachment sample
Blackhawks, Flyers, Sabres and Lightning Headline the 2019 NHL Global Series21.3.2019 15:34:00 CET | Pressemelding
Chicago Blackhawks and Philadelphia Flyers to Open Regular Season in Prague, Czech Republic on Oct. 4 Buffalo Sabres and Tampa Bay Lightning to Face Off in a Pair of Games in Stockholm, Sweden on Nov. 8 and Nov. 9 2019 NHL Global Series Challenge to feature Blackhawks vs. Eisbären Berlin on Sept. 29 in Berlin, Germany and Flyers vs. Lausanne HC on Sept. 30 in Lausanne, Switzerland Tickets to Games in Berlin, Prague and Stockholm Available for Purchase on Wednesday, March 27; Tickets to Game in Lausanne Available for Purchase on Wednesday, April 10 NEW YORK/TORONTO, March 21, 2019 (GLOBE NEWSWIRE) -- The National Hockey League (NHL) and the National Hockey League Players’ Association (NHLPA), in conjunction with Live Nation Sweden, today announced that the Buffalo Sabres, Chicago Blackhawks, Philadelphia Flyers and Tampa Bay Lightning will participate in the 2019 NHL Global Series. The Chicago Blackhawks and Philadelphia Flyers will play their 2019-20 season-opening game against each ot
Farmako: World's Largest Import Contract for Pharmaceutical Cannabis21.3.2019 15:10:00 CET | Pressemelding
German Farmako secures 50 tonnes of flowers and oils from Polish company Pharmacann Polska FRANKFURT, March 21, 2019 (GLOBE NEWSWIRE) -- Farmako will import 50 tonnes of pharmaceutical cannabis from Pharmacann Polska into the European market over the next four years. This provides the basis for a reliable supply of pharmaceutical cannabis for millions of patients in the European healthcare system. The company expects a total revenue of several hundred million Euros from the agreed exclusive partnership. Founded in September 2018, Farmako now has grown to 40 employees and is distributing high-quality pharmaceutical cannabis to German pharmacies since March 2019. This is the biggest Cannabis contract to date, and the first big contract without participation of a Canadian LP. Farmako has signed an exclusive and binding agreement to import and distribute 50 tons of pharmaceutical cannabis over four years. Farmako and Pharmacann Polska enter strategic partnership to develop custom tailored
NexOptic Appoints Rich Geruson, Former Lexmark CEO, to Board of Directors21.3.2019 14:00:00 CET | Pressemelding
VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) -- NexOptic Technology Corp. ("NexOptic" or the "Company") (TSX VENTURE: NXO) (OTCQX: NXOPF) (FRANKFURT: E3O1) is pleased to announce that Richard J. (Rich) Geruson has joined its Board of Directors, effective immediately. Mr. Geruson’s experience spans CEO roles at Lexmark International, Phoenix Technologies and VoiceSignal Technologies, and Senior Vice President and executive positions at Nokia, IBM, Toshiba, and McKinsey & Co. As CEO of Lexmark International, a multibillion-dollar imaging technology and solutions company with 10,000 employees, he grew printer sales faster than at any time in the preceding 10 years while simultaneously executing extensive process reengineering, transforming the business from negative EBITDA and high debt to positive multi-hundred-million-dollar EBITDA and a healthy debt profile. While CEO of Phoenix Technologies, he achieved consistently high profit year-over-year for six years straight in