Nasdaq GlobeNewswire

Routemaster Announces Cooperation Agreement with GEAR Blockchain


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.      


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.


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 8700

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

Nasdaq Welcomes Dropbox, Inc. (Nasdaq: DBX) to The Nasdaq Stock Market23.3.2018 19:52Pressemelding

NEW YORK, March 23, 2018 (GLOBE NEWSWIRE) -- Dropbox, Inc. (Nasdaq:DBX), a leading global collaboration platform, visited the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Stock Market. Founded in 2007, Dropbox serves more than 500 million registered users across 180 countries. Over the past decade, Dropbox has pioneered the worldwide adoption of file sync and share software and has expanded its product capabilities to help users do their best work. Today, 80% of its 11 million paying customers use Dropbox for work. "Today we're taking an important step in our journey. I'm so grateful to all of our customers and our incredible team for getting us here," said Drew Houston, Co-Founder and Chief Executive Officer. "Nasdaq has always championed innovation and entrepreneurship, and we're thrilled to partner with them as we become a public company." "For more than a decade, Dropbox has transformed how people around the world access

Barings Alternative Investments Expands Aviation Investment Platform Through Partnership with Genesis Aircraft Services23.3.2018 15:00Pressemelding

CHARLOTTE, N.C., March 23, 2018 (GLOBE NEWSWIRE) -- Barings Alternative Investments, part of Barings LLC, one of the world's leading financial services firms, announced today the expansion of its aircraft leasing platform on behalf of the firm's institutional fund clients through Genesis Aircraft Services Limited. To facilitate new aircraft acquisitions on behalf of Barings' clients, Genesis will increase existing capabilities to now include all commercial, technical, portfolio and legal management functions required of a full-service premier owner and lessor of commercial aircraft. As part of its increased capabilities, Karl Griffin will join Genesis as Chief Commercial & Investment Officer and will also be appointed to the Genesis Board of Directors effective May 2018; Anna Reimers will join Genesis as Chief Legal Officer; and John McMahon will be appointed to Genesis' Board as an independent director. Griffin is currently the Chief Operating Officer at DAE Capital, an aircraft leasi

Agrisolutions Acquires Trinity23.3.2018 12:00Pressemelding

HAMILTON, Ontario, March 23, 2018 (GLOBE NEWSWIRE) -- Venanpri Group's Agrisolutions division, which services the global agricultural marketplace with its Ingersoll and Bellota brands, announced today the acquisition of Trinity Logistics Corporation ("Trinity"). Based in the U.S., Trinity provides supply-chain solutions relating to fasteners and other components to leading global OEMs that produce mission critical machinery for the agricultural and construction end markets. The terms of the transaction were not disclosed. Headquartered in Davenport, Iowa, Trinity has established ten strategically located service facilities throughout the United States. Trinity specializes in the supply of standard and custom components through vendor managed inventory programs and other arrangements tailored to customer needs. Trinity utilizes its industry leading technology to improve the flow of products, services and information across the supply chain resulting in excellence in the operations of it

Comodo CA Sees 35 Percent Year-Over-Year Increase in EV Certificates22.3.2018 15:47Pressemelding

EV SSL will be a topic of discussion at the Comodo CA booth during RSA 2018 CLIFTON, N.J., March 22, 2018 (GLOBE NEWSWIRE) -- Comodo CA, a worldwide leader in digital identity solutions, will address evolving cyberthreats and the increasing importance Extended Validation (EV) TLS/SSL certificates play in securing websites and inspiring consumer trust at the RSA Conference 2018, San Francisco, April 16 - 20. According to the Feb 2018 Netcraft report, Comodo CA has seen a 35 percent year-over-year increase of EV certificate units* making it one of the fastest growing providers of high assurance certificates. The volume of EV certificates globally also saw a record year in 2017 as more and more businesses adopt EV as standard practice for their websites. The demand for stronger, more secure EV certificates comes in the wake of increased phishing websites using Domain Validated (DV) certificates. Phishing websites imitate legitimate websites to steal customers' funds and identities. Phishi

CBT Pharmaceuticals to Grow Immuno-Oncology Pipeline by License Agreement of CrownBio CTLA-4 Antibody22.3.2018 14:43Pressemelding

SAN DIEGO, March 22, 2018 (GLOBE NEWSWIRE) -- Crown Bioscience, a wholly-owned subsidiary of Crown Bioscience International (TWSE:6554) and a global drug discovery and development services company providing translational platforms to advance oncology, inflammation, cardiovascular and metabolic disease research, announced today a strategic licensing agreement with CBT Pharmaceuticals (CBT), a U.S. and China-based innovative biopharmaceutical company committed to becoming a leader in the discovery and development of oncology combination therapies. The agreement gives CBT exclusive world-wide development and commercialization rights to a novel, recombinant, human monoclonal antibody which targets a differentiated epitope on the cytotoxic T-lymphocyte antigen-4 (CTLA-4) molecule. Binding of this antibody to CTLA-4 blocks the interaction of CTLA-4 with its ligands CD80/CD86 thus allowing the cytotoxic T cells to function actively. Under the terms of this global licensing agreement, CBT gain

Cloudflare Announces Mobile SDK to Monitor Network Performance for Applications22.3.2018 14:00Pressemelding

New free solution delivers network analytics to any mobile app developer SAN FRANCISCO, March 22, 2018 (GLOBE NEWSWIRE) -- Cloudflare, the leading Internet performance and security company, today announced the Cloudflare Mobile SDK, a free solution that enables any mobile app developer to understand network performance and metrics. Consumers are frustrated by mobile apps that are slow, crash, or deliver errors that degrade the user experience. For mobile app developers, a bad user experience means poor reviews, lower engagement, and reduced conversion on business metrics. Delivering consistent app performance requires focusing on every link in the chain: app code, network calls between the app and edge networks, and server infrastructure. There are a number of solutions that give developers analytics on their applications, but there has never been a way for app developers to understand how often their apps fail due to network errors. App developers easily integrate the Cloudflare Mobil

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

Besøk vårt presserom