Graph Blockchain Announces Launching of BluStem, Ecommerce Wellness Platform
Toronto, Ontario--(Newsfile Corp. - May 25, 2020) - Graph Blockchain Inc. (CSE: GBLC) ("Graph" or the "Company") is pleased to announce the development and future roll out of its proprietary Wellness Marketplace platform, BluStem Ltd. (www.BluStem.com), a wholly owned subsidiary of Graph Blockchain Inc. The roll out of the site to commence approximately the week of June 1st, 2020. The Company will be creating an ecommerce ecosystem for B2C and B2B audiences in support of scaling both its own and its partnership brands. The Company will start featuring COVID-19 related products such as Personal Protective Equipment (PPE) and a COVID-19 Test Service once it has finalized the sourcing of products The Company also plans to expand to CBD, Fungi/Psychedelics and other wellness brands for the second phase of development. The Company expects significant revenue growth through the BluStem ecommerce platform from the sale of products, marketing, licensing, and product fulfillment fees including the Company's own brand "BluStem" that will leverage white-labeling supply chain partnership agreements. The Company will not be putting up its own capital for the PPE products due to its broker relationship.
As a result of recent worldwide events relating to the COVID-19 pandemic and the ensuing slowdown of activity in all sectors of business, the Company is taking the opportunity to help Canadians and Canadian Companies to return to safe working environments through the BluStem platform's online ecommerce Marketplace(s) that will focus on Personal Protective Equipment (PPE) and COVID-19 test services with future plans to expand to other wellness products like CBD, Psychedelics and other wellness brands.
Graph President & CEO, Christian Scovenna commented that, "These are exciting times for the Company and its shareholders, as we are poised to move in a direction using our current core technology. With today's announcement of our BluStem ecommerce marketplace, we are pursuing the creation of a revenue model that facilitates both scale and organic growth."
The Company announces that it has granted 15,828,458 incentive stock options to directors, officers, and consultants. The incentive stock options have an exercise price of $0.05 per share, are valid for a 3-year period from the date of grant and are subject to regulatory approval.
The Company's Stock Option Plan allows for the issuance of up to 10% of issued and outstanding share capital in the form of incentive stock options. As a result of this grant, the Company has 14,250,000 stock options issued, representing 9.2% of the issued and outstanding share capital. The stock option plan subject to Shareholder approval at upcoming Annual General Meeting (AGM).
About Graph Blockchain Inc.
The Company develops leading-edge private blockchain business intelligence and data management solutions that it will implement into a blockchain supported e-commerce marketplace for the sale of psychedelic and ancillary products in legal jurisdictions.
For further information, please contact:
Christian Scovenna - President & CEO
Phone: (416) 453-4708
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Such statements may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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