Allocation and Pricing Details Finalized for MVU Crypto Asset's Four-Round IEO
On Wednesday, May 8, 2019, the Company announced in a press release that it had entered into an agreement with Toronto-based MeVu to administer an IEO for the MVU crypto asset. MeVu operates a peer-to-peer sports betting platform based on the Ethereum blockchain, using smart contracts to facilitate wagers, with MVU as the platform's official currency. By allowing bettors to wager against one another, as opposed to a central bookmaker, MeVu users benefit from a lower "vigorish", which results in higher payouts on winning bets. The allocation and pricing details for the IEO of MVU have recently been finalized, and MeVu has given the Company authorization to publish these details. The first round of the IEO is set to begin within thirty calendar days of this release.
Vancouver, British Columbia--(Newsfile Corp. - May 13, 2019) - GLOBAL BLOCKCHAIN MINING CORP. (CSE: FORK) (OTC Pink: GBCHF) ("FORK" or the "Company") has received confirmation from its client MeVu Inc. ("MeVu") that the details pertaining to the initial exchange offering ("IEO") for MeVu's crypto asset MVU have been finalized, and authorization has been given to disclose these details publicly. On Wednesday, May 8, 2019, the Company issued a press release outlining its relationship with MeVu, in which FORK would administer an IEO for MVU on MeVu's behalf. MeVu operates a blockchain-based sports betting platform built on Ethereum, using smart contracts to establish and resolve wagers (http://mevu.bet). MVU is the proprietary cryptocurrency of this platform, and it is used both for access to the platform, and for actual wagering transactions. As wagers on MeVu are made on a peer-to-peer basis, as opposed to a pari-mutuel basis (the model commonly used by traditional bookmakers), risk calculations are dramatically simplified, thus reducing the commission (also known as "vigorish" or "vig") factored into the odds of a given bet type, resulting in more favourable payouts of winnings to bettors.
From prior sale efforts for MVU, MeVu was able to raise more than USD $350,000 for less than 5% of MVU's total supply of 105,000,000 MVU (an approximate price of USD $0.07 to USD $0.08 per MVU). In the IEO being administered by FORK, 55,000,000 MVU will be made available over the course of four rounds. The first round is set to begin in the next thirty calendar days. An overview of the allocations and pricing of MVU for each round is provided below:
First IEO round: 7,000,000 MVU at USD $0.09 (Hard cap of USD $630,000)
Second IEO round: 8,000,000 MVU at USD $0.10 (Hard cap of USD $800,000)
Third IEO round: 20,000,000 MVU at USD $0.11 (Hard cap of USD $2,200,000)
Fourth IEO round: 20,000,000 MVU at USD $0.12 (Hard cap of USD $2,400,000)
For its involvement in the IEO for MVU, FORK is under contract to receive base compensation of up to 3,000,000 MVU (or 2.86% of the total MVU supply). This compensation will be paid according to a set schedule in which up to 1,500,000 MVU will be paid out with each USD $100,0001 raised (FORK will be paid 50% of all MVU tokens sold at each threshold, to a maximum of 1,500,000 MVU total), and a lump sum of 1,500,000 MVU will be paid out upon a cumulative total of USD $1,000,0002 being raised in the IEO. Furthermore, the Company shall be paid a 10% bonus on all sales from private investors introduced by FORK. This bonus is structured as 5% of all MVU sold (e.g. 100,000 MVU sold results in a 5,000 MVU bonus for FORK) and 5% of sale proceeds (e.g. USD $25,0003 purchase results in a USD $1,2504 bonus for FORK).
The beta version of MeVu's betting platform is currently live (https://dapp.mevu.bet/), allowing wagers on sports to include hockey, basketball, baseball, MMA, and esports. MeVu also has an active Telegram group (https://t.me/mevubet) with more than 18,000 users.
FORK President and CEO Shidan Gouran commented, "Our strategy with the IEO for MVU is to reach as wide of a range of participants as possible, by having four rounds on four different exchanges. As sports betting has become more popular, particularly on non-traditional forms of sport such as esports, we are emphasizing MeVu's novel approach to sports wagering as a primary value proposition for MVU as a crypto asset. We are confident that we will connect with IEO participants globally through our promotional efforts, and capitalize on the existing momentum already built by MeVu in the ever-growing ecosystem of sports betting."
1,2,3,4 Or equivalent total amount in any accepted currency for the IEO, as stated by the respective exchange of each IEO round
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
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