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HashChain Technology to Acquire Established Blockchain Technology Company NODE40
HashChain Technology to Acquire Established Blockchain Technology Company NODE40 C...
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[{"type":"text","content":"\n\n\n\nHashChain Technology to Acquire Established Blockchain Technology Company NODE40\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Jan. 30, 2018\n\n\n\nVANCOUVER, Jan. 30, 2018 /CNW/ - HashChain Technology Inc. (TSXV: KASH) (OTCQB: HSSHF)  (\"HashChain\" or the \"Company\") today announced that the Company has entered into an agreement to acquire blockchain technology company, NODE40 LLC, (the \"NODE40 Business\" or NODE40) which includes a team of experienced blockchain experts and software engineers. This acquisition marks HashChain's initial move to diversify its crypto-currency mining strategy with blockchain based solutions.\n\n\n \n \n\n \nTerms of the Agreement\n\nUnder the asset purchase agreement for the acquisition of the Node40 Business (the \"APA\"), HashChain will acquire the NODE40 Business for a purchase price comprised of US$8,000,000 in cash, payable as to US$4,000,000 at closing (subject to a closing adjustment provision), and US$2,000,000 on each of 180 days and one year following the closing date, and a total of 3,144,134 common shares in the capital of HashChain (\"Shares\"), to be issued in the following amounts and on the following dates (each, an \"Issue Date\"): (i) 1,800,000 Shares on the closing date, (ii) 700,247 Shares on the date that is 180 days following the closing date; and (iii) 643,887 Shares on the one-year anniversary of the closing date, subject to NODE40s option to receive cash in lieu of up to 30% of the shares issuable pursuant to (ii) and (iii) above to a maximum of $600,000 USD for (ii) and $600,000 USD for (iii) above. \n\nThe acquisition of the NODE40 Business is subject to customary closing conditions, including the approval of the TSX Venture Exchange.\n\nNODE40's business comprises two major segments including 1) Cryptocurrency accounting solution for cryptocurrency trading, and 2) Masternode hosting. \n\nCryptocurrency Accounting Solution\n\nNODE40 Balance is a robust cryptocurrency reporting software that integrates directly with certain major cryptoc...