Aida Minerals Corp. Enters into Letter of Intent to Acquire a Blockchain Technology Company
10.10.2017 | Marketwire
VANCOUVER, October 10, 2017 - Further to its news release of October 6, 2017, Aida Minerals Corp. ("AMC" or the "Company") (CSE: AMC) (CSE: AMC.CN) (CNSX: AMC) (FRANKFURT: 2AD) wishes to clarify that the previously announced non-binding letter of intent (the "LOI") to acquire 100% of 10375977 Canada Inc., a blockchain technology company doing business as Greenstream ("Greenstream"), will result in a fundamental change for Aida pursuant to Canadian Securities Exchange Policy 8. 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Donald Gordon
Director
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company's control.
For further information, please contact:
David Alexander, CFO
(778) 772-8184
dmalexander2@gmail.com