Global Care Capital Announces Definitive Agreement for Acquisition of ASIC Power Corporation
ASIC is the first cryptocurrency company combining state of the art ASIC chips with royalty streaming contracts.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Global Care Capital Inc. (CSE:HLTH, FRANKFURT: L6V1) (the “Company” or “Global Care”) a global investment company which engages in early stage investment opportunities in private and public companies, is pleased to announce that further to its press release of December 30, 2020 it has entered into a share exchange agreement dated January 19, 2021 (the “Agreement”) between the Company, ASIC Power Corporation (“ASIC”) and the shareholders of ASIC which sets out the terms and conditions for the acquisition by the Company of all of the issued and outstanding securities in the capital of ASIC (the “Transaction”). ASIC is the first cryptocurrency company combining state of the art ASIC chips with royalty streaming contracts.
The material terms of the Transaction are as follows:
- In consideration for the Transaction, and on closing thereof, Global Care will issue an aggregate of 100,000,000 common shares of Global Care (the “Consideration Shares”) to ASIC shareholders at a deemed price of $0.095 per Consideration Share.
- There is no hold period for the Consideration Shares pursuant to applicable securities laws.
Closing of the Transaction is subject to, among other things, compliance with all applicable regulatory requirements and receipt of all necessary regulatory, corporate, third-party, board and shareholder approvals being obtained, including the approval of the Canadian Securities Exchange. There can be no assurance that the Transaction will be completed as proposed, or at all. The Transaction is an arms-length transaction and no change in management, or the Board of Directors of Global Care is being contemplated at this time.
One of the key assets of ASIC is an agreement with Valour Mining Inc (“Valour”) and its offering of miner-focused financial services – also known as MiFi. Under this agreement, Valour gives ASIC access to its innovative cryptocurrency mining royalty smart contracts and proprietary chip hardware. Miners get access to capital, yield enhancement and risk management solutions.
“We are excited to be part of Global Care Capital and help diversify their portfolio, giving them exposure to cryptocurrency through the royalty streaming model,” said Daniel Novak, co-founder & CEO of ASIC Power Corporation.
About ASIC Power Corporation
ASIC Power Corporation is a company focused on vertical integration of blockchain infrastructure, covering energy, hardware and software optimization focused on bitcoin as an underlying asset. Application-specific integrated circuits, or ASIC’s have been the underlying computing equipment required for the computer processing of algorithms to mine bitcoin and other cryptocurrencies. ASIC Power is at the frontier of providing an asset light approach for exposure to blockchain infrastructure globally.
Website: https://asicpower.com/
About Global Care
Global Care Capital is a global investment company which specializes in providing early-stage financing to private and public companies. The Company engages in new, early-stage investment opportunities in previously underdeveloped assets and obtaining positions in early-stage investment opportunities that adequately reflect the risk profile.
Website: https://globalcarecapital.com/
GLOBAL CARE CAPITAL CORP.:
Company Contact:
Alex Somjen, President & CEO
604-687-2038
The CSE does not accept responsibility for the adequacy or accuracy of this release.
The securities to be issued in connection with the Transaction have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.
Cautionary Note
All information contained in this news release with respect to ASIC was supplied by ASIC for inclusion herein, and Global Care’s directors and officers have relied on ASIC for such information.
Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com
