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HashChain Technology Announces Intent to Spin off NODE40, its Blockchain Technology Business into a Stand-Alone Public Company
(via TheNewswire) -Spin-off of NODE 40 expected to be completed no later than the four...
About this update from Intellabridge Technology Corp.
[{"type":"text","content":"HashChain Technology Announces Intent to Spin off NODE40, its Blockchain Technology Business into a Stand-Alone Public Company(via TheNewswire)\n \n \n-Spin-off of NODE 40 expected to be completed no later than the fourth quarter of 2018\n\n\n \n-HashChain Technology will continue as the cryptocurrency mining business\n\n\n \n-NODE40 will become an exclusive blockchain technology company\n\n\n \n-Shareholders on record will be distributed on a pro rata basis one NODE40 share for every one HashChain share held \n\n\n \nVANCOUVER, BC / TheNewswire / July 3, 2018 - HashChain Technology Inc. (TSXV: KASH; OTCQB: HSSHF) (\"HashChain\" or the \"Company\") today announced that its Board of Directors has unanimously approved a plan to separate the Company into two independent publicly traded companies: one business focused on cryptocurrency mining (HashChain) and the other on cryptocurrency accounting and tax compliance software, including other disruptive blockchain technology solutions (NODE40). Creating two stand-alone businesses will allow each entity to maximize its respective growth opportunities and drive long-term shareholder value.\n\n\n \n\"Cryptocurrency mining and the blockchain technology space are evolving at an accelerated pace in their own distinct directions,\" says Patrick Gray, CEO and President of HashChain. \"With each business today facing unique market opportunities and challenges, it has become clear that winning in both requires separate strategies, focused investments, and dedicated leadership.\" \n\n\n \nThe separation will allow each company to focus on unique growth opportunities, better direct capital allocation priorities and rapidly pursue independent strategic and corporate development agendas. \n\n\n \nNODE40's ambition is to be the leading supplier of cryptocurrency accounting and tax compliance solutions. Its flagship product, Balance, along with its suite of proprietary accounting tools, was built to live in the evolving landscape of cryptocurrency regulation and government oversight. Balance is a best-in-class blockchain product that provides a high value and user-friendly experience for its customers. In parallel, NODE40 intends to continue as the leading masternode service-hosting provider for the Dash network and to pursue additional alt coin masternode hosting where financially accretive. \n\n\n ...