VANCOUVER, British Columbia, September 20, 2018 /PRNewswire/ --
BlackChain Solutions Inc. (the "Company" or "BlackChain") (BIS), FWB: B2IN), an analytics software company, announces that at market open Tuesday, September 25, 2018, the Company's common shares will commence trading on two (2) old for one (1) new share consolidated basis. The Company also will change its name to Trackloop Analytics Corp.; the Company's trading symbol will change to TOOL . The record date is September 27, 2018. Registered shareholders will receive a letter of transmittal from the Company's transfer agent with instructions for exchanging their pre-consolidated shares. Shareholders who hold their common shares through a broker or other intermediary and do not have common shares registered in their name, will not need to complete a letter of transmittal.
There are currently 81,005,322 common shares issued and outstanding. Upon completion of the consolidation, there will be approximately 40,502,661 common shares issued and outstanding. The exact number of post-consolidated shares will vary depending on the treatment of fractional shares, which will occur when each shareholder's holdings in the Company are consolidated. The Company will not issue any fractional common shares as a result of the consolidation. Instead, all fractional shares will be rounded down to the next whole number. Outstanding stock options and share purchase warrants will also be adjusted by the consolidation ratio and their respective exercise prices adjusted accordingly.
About BlackChain Solutions Inc.
BlackChain Solutions Inc. is an analytics and risk management company that is leveraging digital asset technology to transform and modernize multiple industries. BlackChain is taking a diversified approach to the analytics and technology space, delivering practical solutions in the finance, logistics, cannabis, and pharmaceutical industries.
BlackChain is a publicly-traded company listed on the Canadian Securities Exchange (CSE); trading symbol BIS (C.BIS or BIS.cn). For more information about the company please contact us at 1-604-602-0001.
BlackChain Solutions Inc.
This news release contains forward-looking information based on current expectations. Statements about the Company's plans and intentions, other potential transactions, the Consolidation, the proposed transaction with ChainTrack, the Private Placement, product development, events, courses of action, and the potential of the Company's technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; market conditions and the demand and pricing for products; security threats; relationships with its customers, distributors and business partners; the ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. BlackChain may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to achieve goals. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.
Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, the impact of technology changes on the industry, competition, security threats, consumer sentiment towards BlackChain's products, services and blockchain technology generally, failure to develop new and innovative products, litigation, increase in operating costs, lack of demand for BlackChain's products and services, increase in labor costs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The CSE has not reviewed, approved or disapproved the content of this news release.