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Africa Hydrocarbons Provides Corporate Update - Seeks To Complete Change Of Business Transaction Into Blockchain Technology Company
(via TheNewswire) Calgary, Alberta / TheNewswire / September 27, 2017 - Africa Hydrocarb...
About this update from Blockchaink2 Corp.
[{"type":"text","content":"Africa Hydrocarbons Provides Corporate Update - Seeks To Complete Change Of Business Transaction Into Blockchain Technology Company(via TheNewswire)\n\n \nCalgary, Alberta / TheNewswire / September 27, 2017 - Africa Hydrocarbons Inc. (NFK.H: NEX | KNPRF: PNK | KRL1: STU) (\"AHI\" or the \"Company\") is pleased to provide the following corporate update.\n\n\n \n\n\n\n \nIn the last two months, the Company has been able to complete two non-brokered private placements for total gross proceeds of CAD$1,225,000 (see the Company's press releases of July 31 and August 25, 2017). The Company also completed a shares for debt transaction which allowed it to settle debts of $77,400 owed by the Company (see the Company's July 31, 2017 press release). As a result of these transactions, the Company has been able to extinguish its outstanding debts. \n\n \n \nNow that the Company has been stabilized, and has cash on hand, management is focused on examining what financial and strategic alternatives may be available to the Company. Management is seeking to complete a \"change of business\" transaction (a \"COB Transaction\") in accordance with the policies of the TSX Venture Exchange (the \"Exchange\"), that would allow it to graduate from the NEX and back up to the Exchange. The preference of management of AHI would be to complete a COB Transaction that would transform the Company into a technology company, with a focus on blockchain technologies, digital currency mining, data centers, hosting facilities, software and services, or the like. If the Company can identify those assets and / or companies that would enable it to complete a COB Transaction, and is able to come to terms to acquire such assets and / or companies, then the Company will be required to raise additional financing in order to complete such a COB Transaction in accordance with the policies of the Exchange.\n\n \n \nAHI is in the early stages of identifying what assets and / or companies may be available to it, but if an agreement in principal is reached, full details will be provided in accordance with Exchange policies. \n\n\n \nAbout the Company \n\n \n \nAfrica Hydrocarbons Inc. is a Canadian based Issuer listed on the NEX board of the TSX Venture Exchange. \n\n \n \nON BEHALF OF THE BOARD OF \n\n\n \nAFRICA HYDROCARBONS INC.\n\n \n \nDouglas Wu\n\n\n \nDirector\n\n \n \nF...