Nasdaq GlobeNewswire

Routemaster Announces Cooperation Agreement with GEAR Blockchain

Del

TORONTO, March 01, 2018 (GLOBE NEWSWIRE) -- Routemaster Capital Inc. (TSX-V:RM) ("Routemaster" or the "Company") announces that it has entered into a partnership with GEAR Blockchain Inc. ("GEAR"), a privately held company focused on the energy-intensive cryptocurrency mining space (the "Transaction"). GEAR is currently working to launching its own token network via an initial coin offering ("ICO") in Barbados. Pursuant to the agreement among Routemaster and GEAR dated February 26, 2018, Routemaster will provide GEAR with management consulting services and up to US$2 million in cash to be used by GEAR for the launch of its ICO. Routemaster will not be issuing any shares to GEAR pursuant to the Transaction. As consideration for Routemaster's financial and management support, Routemaster will be issued 10% of the GEAR tokens issued pursuant to the proposed ICO. The term of the agreement is for one year. 

Routemaster has no assurance that it will receive any return on this investment.    

GEAR is in the early stages of preparing a White Paper for its token network. The White Paper is a pivotal component of the ICO which is currently in its initial stages. Given the current stage of the ICO, GEAR has not yet received any firm commitments from investors to acquire tokens. The ICO is at a preliminary stage and there can be no assurances on when or if the ICO will be completed; if an active and liquid market will develop for the tokens; or if the tokens received by Routemaster will have any value. 

The Transaction follows Routemaster's recently announced investment into Pinedale Springs LLC ("Pinedale"), a company that successfully operates solar powered cryptocurrency mining facilities located in Cary, North Carolina (see Press Release dated December 14, 2017).

The proposed GEAR network is an innovative platform that will try to support the green and renewable energy sector by:

  • Building a cryptocurrency mining network through the allocation of mining proceeds toward scaling and expansion
  • Accelerating the offset of conventional energy in the blockchain industry and cryptocurrency mining process
  • Decentralizing and democratizing the cryptocurrency mining space via GEAR's token network which utilizes voting rights and green hashing power tokenization
  • Investing in the green energy and renewable sector accelerating global adoption

There can be no assurances that GEAR will be able to complete any of its planned investments into the blockchain and cryptocurrency mining space. 

Routemaster has consultants and a director who are experienced in the blockchain and cryptocurrency sectors and Routemaster will provide management expertise to assist GEAR with the launch of its ICO. Routemaster and GEAR are arm's length parties. The GEAR team is comprised of highly talented and experienced experts across a multitude of backgrounds, including finance, marketing, blockchain and technology. Mr. Orlando Bustos, a consultant for the Forbes & Manhattan Group, is an insider of GEAR. GEAR is incorporated in Barbados and will comply with all applicable securities laws.      

Background

The global cryptocurrency market has seen recent exponential growth however this comes with an enormous amount of energy usage due to the intensive energy requirements of the proof-of-work system utilized by mining operations of the most popular cryptocurrencies including Bitcoin and Ethereum. The Bitcoin network alone currently consumes 50TWh per year in its mining process, mostly powered by dirty fossil fuels such as coal which has a massive carbon footprint. Furthermore, much of mining computing power is concentrated into the hands of a small number of entities, which runs counter to blockchain's decentralized fundamentals. GEAR recognizes and acknowledges that these are issues that threaten the security of the blockchain industry and cryptocurrencies.

GEAR is developing a unique mining platform with an innovative token network that provides security to the blockchain industry and cryptocurrency network by deploying hashing power using renewable energy and bringing decentralization to the cryptocurrency mining process, all in a manner that drives substantial value to the network, tokenholders and partners.

The GEAR Network

The GEAR network will be comprised of globally located clean energy farms, including, but not limited to, solar, wind, tidal and biomass. Energy produced will mainly be used for cryptocurrency mining but will also have a number of other use cases including grid sales and inputs into datacentres.

A key feature of the GEAR network is its decentralized system and green hashing power tokenization which provides tokenholders voting and comment rights to network operations, allowing participants to influence the growth of the platform and its initiatives. GEAR tokenholders are therefore able to, but not limited to, selectively allocate network proceeds or hashing power toward the expansion of a particular green energy farm or toward specific research and development projects.

Fred Leigh, President and CEO of Routemaster stated, "As a believer in blockchain technology and its applications, Routemaster is pleased to partner with GEAR and leverage its unique GEAR network and mining platform and we look forward to helping GEAR launch its green token"

Routemaster Continues Focus on Blockchain and Green Energy Technologies

Through this partnership with GEAR, Routemaster affirms its position as a diversified investment vehicle committed to partnering with, and advancing, companies on the edge of blockchain technology and its applications, particularly those supporting environmental wellbeing and innovation in green energy and renewables.

About Routemaster Capital Inc.:

Routemaster Capital Inc. is a Canadian investment company that carries on business with the objective of enhancing shareholder value.

For further information please contact

Fred Leigh
President and Chief Executive Officer
Tel: +1 (416) 861-5933

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements, including statements regarding the Transaction and GEAR, the impact of the Transaction on the Company, GEAR ' s ability to complete the White Paper and ICO, the valuation and liquidity of the GEAR tokens, the blockchain/cryptocurrency industry and the sustainability thereof, the Company ' s ability to identify accretive investments and the Company ' s ability to attract required financing. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf, except as required by applicable law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Routemaster Capital Inc. via Globenewswire

Om Nasdaq GlobeNewswire

Nasdaq GlobeNewswire
Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

+1 212 401 8700http://www.nasdaqomx.com

NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.

Følg saker fra Nasdaq GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Nasdaq GlobeNewswire

Tenaris to acquire significant stake in Saudi Steel Pipe Company25.9.2018 22:58Pressemelding

LUXEMBOURG, Sept. 25, 2018 (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 a private group 47.79% of the shares of Saudi Steel Pipe Company (“SSP”), a welded steel pipes producer listed on the Saudi stock market, for an aggregate price of US$144 million. The transaction is subject to regulatory approvals, including approval by the Capital Market Authority of Saudi Arabia, and other customary conditions and is expected to close in the first quarter of 2019. Tenaris has been serving Saudi Arabia’s oil and gas industry and Saudi Aramco for decades. With this transaction, Tenaris will significantly expand its industrial presence in the Kingdom and the range of products it supplies to Saudi Aramco. Since its first industrial investment in 2010, Tenaris has continuously invested to expand its local operations, supporting the industrialization of the country. SSP’s facilitie

Navigators Announces End of “Go-Shop” Period25.9.2018 22:01Pressemelding

STAMFORD, Conn., Sept. 25, 2018 (GLOBE NEWSWIRE) -- The Navigators Group, Inc. (NASDAQ:NAVG) (“Navigators”) today announced the expiration of the 30-day “go-shop” period provided for under the terms of the previously announced definitive merger agreement (the “Merger Agreement”), pursuant to which Navigators will be acquired by The Hartford Financial Services Group, Inc. Under the terms of the Merger Agreement, Navigators and its representatives were permitted to initiate, solicit and engage in discussions or negotiations with respect to alternative acquisition proposals from third parties until 12:01 a.m. (New York City time) on September 21, 2018 (the “go-shop period”). During the go-shop period, Navigators and its financial advisors, Goldman Sachs & Co. LLC and Moelis & Company LLC, solicited 44 potential acquirers. Despite these efforts, Navigators did not receive any alternative acquisition proposals during the go-shop period. Immediately following the expiration of the go-shop pe

Code Pilot Launches Employer "Radar” Product, Makes Hiring Validated Technical Talent a Reality25.9.2018 21:25Pressemelding

Austin-Based Startup aims to offer hiring partners a meritocratic tool that is free from unconscious bias and puts the emphasis back on hard skills AUSTIN, Texas, Sept. 25, 2018 (GLOBE NEWSWIRE) -- Code Pilot, a new data science platform, launched its “Radar” product today which enables companies to hire software engineers at scale with confidence and intelligence. The Bureau of Labor Statistics highlights that over 41 million people are searching and being recruited into jobs in the US every year. A massive issue in the current hiring landscape is exposed by the findings of Brandon Hall’s research brief that found a staggering 95 percent of employers surveyed admitted to making hiring mistakes by recruiting the wrong people each year. Code Pilot’s Radar aims to solve this issue by validating candidates and eliminating the noise often caused by cognitive bias. The Radar product has two distinct offerings: Test Manager uses advanced automation with a series of proprietary code assessmen

World Conference on Lung Cancer Tuesday Press Conference: Improving the Cure Rate for Stage III Lung Cancer25.9.2018 19:26Pressemelding

TORONTO, Sept. 25, 2018 (GLOBE NEWSWIRE) -- Today’s press conference at the International Association for the Study of Lung Cancer’s (IASLC’s) 19th World Conference on Lung Cancer (WCLC) featured some of the year’s most innovative research in both small cell and non-small cell lung cancer. Frances Shepherd, M.D., FRCPC, WCLC honorary chair, medical oncologist at Princess Margaret Cancer Centre and former president of the IASLC (2005-2007), opened with the practice-changing importance of data shared this morning at the 2018 Presidential Symposium. Dr. Shepherd continued with background on the current inoperability and low cure rate of Stage III lung cancers, which comprise 1/3 of all lung cancers. Ground breaking data presented during today’s symposium demonstrated an advancement in disease treatment not seen for many years. PACIFIC study shows durvalumab improves overall survival in patients with unresectable non-small cell lung cancer without progression after chemoradiotherapy Recent

Manufacturing Leadership Forum Will Highlight Enabling Industry 4.0 with Analytics25.9.2018 15:06Pressemelding

Upcoming Dates in Houston, Texas and Antwerp, Belgium PORTLAND, Ore., Sept. 25, 2018 (GLOBE NEWSWIRE) -- New dates for The Manufacturing Leadership Forum were announced today including Houston, Texas, US on October 9, 2018 at the Petroleum Club of Houston and on November 28, 2018 in Antwerp, Belgium at the Lindner WTC Hotel & City Lounge. The events are sponsored by Northwest Analytics, a leading provider of manufacturing intelligence and SPC software solutions for manufacturers. This premier manufacturing analytics educational event focuses on enabling Industry 4.0 programs with manufacturing analytics. The Forums will feature keynotes and case-study presentations from globally-recognized leaders in the application of manufacturing analytics. In its fourth year, The Manufacturing Leadership Forum will open with a keynote from analytics visionary, Dr. Lloyd Colegrove, Director of Data Services & Fundamental Problem Solving at The Dow Chemical Company. “The Manufacturing Leadership Foru

Checkpoint Therapeutics Announces Presentation of Updated Data from Phase 1/2 Trial of EGFR Inhibitor CK-10125.9.2018 14:00Pressemelding

Data were featured in an oral presentation at the IASLC 19th World Conference on Lung Cancer Phase 3 trial in treatment-naïve EGFR mutation-positive NSCLC patients targeted to commence in 2019 NEW YORK, Sept. 25, 2018 (GLOBE NEWSWIRE) -- Checkpoint Therapeutics, Inc. (“Checkpoint”) (NASDAQ: CKPT), a clinical-stage immuno-oncology biopharmaceutical company focused on the acquisition, development and commercialization of novel treatments for patients with solid tumor cancers, today announced that positive preliminary safety and efficacy data from an ongoing Phase 1/2 clinical trial of CK-101 were presented yesterday in an oral presentation at the International Association for the Study of Lung Cancer (IASLC) 19th World Conference on Lung Cancer in Toronto. The oral presentation included further details on, and updates from, the dataset announced previously. CK-101 is a third-generation epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor (TKI) being evaluated in advanced non

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom