AMR Crowdsale Completed, with Business Updates from Ammbr
After a two-month crowdsale period, the AMR token has had approximately 80% of its sale allocation sold, between its public crowdsale on the Singularity exchange and private sales to institutional clients. After a successful crowdsale administered by FORK, Ammbr is also releasing some important business updates, including the status of the large-scale infrastructure deployment of Ammbr's technologies in India, and the new prospect of developing a wireless mesh network in northern Canada in a joint venture with FORK.
Vancouver, British Columbia--(Newsfile Corp. - March 22, 2019) - GLOBAL BLOCKCHAIN MINING CORP. (CSE: FORK) (OTC Pink: GBCHF) ("FORK" or the "Company") is pleased to announce that the AMR crowdsale concluded yesterday, and in this time approximately 320,000,000 AMR tokens were sold between the public crowdsale on the Singularity Exchange, as well as private sales to institutional clients. FORK's client Ammbr Foundation Pte Ltd. ("Ammbr") considers FORK's work on the sale of AMR to have been a definitive success, with approximately 80% of the sale allocation having been purchased (~320,000,000 out of 400,000,000 tokens), with proceeds collected in a range of cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH). FORK first announced its partnership with Singapore-based Ammbr in a press release dated October 23 2018. FORK extends its congratulations to Ammbr and its team for its many significant accomplishments in just under six months of working together.
Moving into the post-crowdsale stage of Ammbr's deployment, FORK issues the following updates on behalf of Ammbr:
Ammbr Infrastructure Deployment in India
It was announced in January 2019, that Ammbr's US-based affiliate company AmmbrTech, Inc. ("AmmbrTech") had secured a large-scale infrastructure deployment contract with India-based Internet service provider Smartware Technologies Pvt Ltd. ("Smartware"), with rollouts planned across 53 cities and more than 15,000 villages in India. As of this writing, AmmbrTech is beginning production on the first volume production order of Ammbr network hardware for India, which will underpin full commercial deployments beginning in May 2019.
Wireless Mesh Service Joint Venture in Northern Canada
FORK and AmmbrTech are presently exploring the prospect of launching a wireless mesh network under a joint venture in northern Canada, to service the resources industry and to provide Internet connectivity for disadvantaged communities. At this time, the Company and AmmbrTech are working on a letter of intent to solidify this arrangement, with a definitive outcome likely to materialize in mid-Q3 2019.
The blockchain space has been adversely impacted by numerous failed or fatuous projects over the past months. In order to avoid doubt, and better align the interests of the Ammbr project with those of its token holders, FORK and Ammbr have placed the proceeds of the crowdsale under the management of a separate fiduciary organization. Proceeds will be released according to clear performance metrics such as the deployment of Ammbr network infrastructure in various locations. This includes subsidy schemes for disadvantaged communities, thereby accelerating the project's goals by ensuring greater affordability of infrastructure. Details of such subsidy schemes and other incentives will be published at a later date.
AMR Listing on Cryptocurrency Exchanges
Upon conclusion of the AMR crowdsale, and the positive metrics shown, Ammbr is working to arrange to have AMR listed on large-scale cryptocurrency exchanges. Negotiations are presently in motion, with firm listing agreements set to be established before the end ofMay, 2019.
Derick Smith, Managing Director of Ammbr, said, "We are most pleased with the outcomes of working with FORK so far. They have brought about great results in conducting sales of AMR, and cultivated new business opportunities, including a unique arrangement in which we can build wireless mesh networks on Ammbr for northern Canada. With 80% of the sale allocation of AMR sold, we are confident that we have the support of a multitude of users in the early stages of Ammbr, and we look forward to seeing how that will turn out in the course of 2019 with multiple international deployments already set to take place, and even more in the works."
FORK President and CEO Shidan Gouran commented, "We are thrilled to announce the success of the AMR crowdsale, and we congratulate Mr. Smith and his team for developing a scalable and dynamic wireless mesh networking solution using blockchain technology. As big believers in Ammbr's technologies, it is clear to us from how these technologies have been received, that there is a very strong base of AMR supporters right from the beginning, and we are working on many more related developments in the background. We thank all AMR token purchasers, and all prospective partners for their interest, and we believe there are many exciting opportunities on the horizon for Ammbr and AmmbrTech."
On behalf of the Company:
Shidan Gouran, President and CEO
For more information please contact:
Global Blockchain Mining Corp. Investor Relations
About Global Blockchain Mining Corp.
With blockchain technology rapidly re-shaping the models of many companies, industries, and their business processes, Global Blockchain Mining Corp. ("FORK") places a focus on the common needs of early-stage blockchain adopters. Originally founded with a focus on crypto-mining, FORK has recently diversified its offerings by placing an emphasis on professional services such as developing and administering launches of tokens and digital assets. Adapting to changes in blockchain technology, FORK is also now utilizing its computing power to provide consensus services, such as the operation of masternodes, servicenodes, and witnesses which are alternative methods to cryptocurrency mining for generating and acquiring digital assets. Investors, through their investment in the Company, are provided with exposure to these tokens, cryptocurrencies and digital assets without the lengthy, and complicated process that interested investors must undergo in order to gain exposure to these cryptocurrencies and digital assets.
The Company is listed on the Canadian Securities Exchange ("CSE") and its common shares trade under the ticker symbol "FORK". Additional information relating to the Company is available on SEDAR at www.sedar.com, the CSE at www.theCSE.com as well as on the Company's website at: www.forkcse.com
Cautionary Note Regarding Forward-Looking Information
Forward-Looking Information: This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect","may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com
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