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TSX-V Symbol: HELX
TORONTO, May 31, 2021 /CNW/ - Helix Applications Inc. (TSXV: HELX) (the "Company" or "Helix") is pleased to announce that, further to its news release dated May 17, 2021, the TSX Venture Exchange (the "Exchange") has granted conditional acceptance of the Company's proposed business combination (the "Transaction") with GlobalBlock Limited ("GlobalBlock"). Helix is also pleased to highlight that GlobalBlock is reporting record trading volumes and revenues to date in 2021.
Resumption of Trading
The Company also announces that the Exchange has lifted the trading halt on the common shares of the Company, such that those common shares will begin trading again on the Exchange on Monday, May 31, 2021.
Rufus Round, Helix CEO said:
"We are very excited about what the future holds for GlobalBlock, especially after they've had such a strong start to trading in 2021. At Helix we are of the view that we are still in the early stages of the nascent digital asset space, so we believe this business combination with GlobalBlock presents huge potential for all stakeholders."
Update on GlobalBlock's Business
As GlobalBlock works to build out and expand its business and its digital asset trading platform, and as investment and adoption of digital assets / cryptocurrencies continues to grow, GlobalBlock is reporting its best results to date with respect to its trading volumes and revenues. For example GlobalBlock is reporting that:
Approximately £141 million of principal volume* has been traded for the 2021 calendar year to date, versus approximately £48.4 million of principal volume being traded for the 2020 calendar year.
Its revenues are approximately £1,230,000 (unaudited) for the period of April to May 28, 2021 and approximately £1,680,000 (unaudited) for the 2021 calendar year to date, which surpass GlobalBlock's previously disclosed revenues of £869,550 (audited) for the period from March 31, 2020 to February 28, 2021.
* Principal volume traded is calculated by price of token multiplied by the number of tokens.
David Thomas, Co-Founder of GlobalBlock said:
"The business combination with Helix is going to allow us to capitalise on the fast-growing digital asset industry. As well as expanding the team to meet the increase in demand from customers, we have exciting plans for new products and services. At GlobalBlock we aim to be a leader in the provision of digital asset trading services by using our experience of financial markets and regulation to ensure customers receive a personalised service."
Now that the Exchange has granted conditional acceptance of the Transaction in accordance with Exchange Policy 5.3 – Acquisitions and Disposition of Non-Cash Assets, the Company is working diligently to seek final approvals from the Exchange in respect of the Transaction so that the Transaction can be completed. The Company will make additional announcements related to such final Exchange approvals as such approvals are obtained.
Helix is a blockchain application and technologies developer, listed on the TSX Venture Exchange (TSX Venture: HELX).
GlobalBlock is a UK based digital asset broker that provides a personalised telephone broking service, trading platform and mobile app. Established in 2018 by an experienced team of financial services professionals, GlobalBlock acts as a trusted agent serving the cryptocurrency needs of individuals, corporates, institutional financial firms and intermediaries, providing best execution trading and safe custody of digital assets.
Investors are cautioned that there can be no assurance that the Transaction will be completed as proposed, or at all. Trading in the securities of the Company should be considered highly speculative.
The Exchange has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information set out in this news release constitutes forward-looking statements or information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the ability to obtain regulatory approval (including final TSX Venture Exchange approval) for the Transaction, the ability of the parties to complete the Transaction, the continued and successful development of the businesses of each of Helix and GlobalBlock, the ability of GlobalBlock to obtain the applicable regulatory approvals (including permanent registration with the Financial Conduct Authority in the United Kingdom) to continue to conduct its business, the ability of GlobalBlock to successfully expand its products and services and other information concerning the intentions, plans, future action and future successes of the Company, and GlobalBlock and the resulting company and their businesses, technologies and products described herein. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company's most recent management's discussion and analysis, a copy of which is filed on SEDAR at www.SEDAR.com, and readers are cautioned that the risk factors disclosed therein should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Helix Applications Inc.
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