American Blockchain Corporation to Raise $15 million
Retrieved on:
Tuesday, February 6, 2024
Henderson, NV, Feb. 06, 2024 (GLOBE NEWSWIRE) -- American Blockchain Corporation (“ABC”), trading as Good Vibrations Shoes, Inc. (OTCMKT: GVSI), announced today that it has entered into a non-binding Letter of Intent (“LOI”) with a privately owned Blockchain and Cryptocurrency enterprise, currently operating as an LLC.
Key Points:
- Henderson, NV, Feb. 06, 2024 (GLOBE NEWSWIRE) -- American Blockchain Corporation (“ABC”), trading as Good Vibrations Shoes, Inc. (OTCMKT: GVSI), announced today that it has entered into a non-binding Letter of Intent (“LOI”) with a privately owned Blockchain and Cryptocurrency enterprise, currently operating as an LLC.
- Under the terms of the LOI, GVSI will raise $15 million on a “best-efforts” basis for investment in the LLC, in exchange for 35% equity membership in the LLC.
- Potential GVSI investors have already been identified by the LLC, which has previously and privately raised $9 million under a $30 million valuation.
- The LOI also provides Worldwide NFT, Inc. (OTCMKT: WNFT) the opportunity to provide the final $2 million of the $15 million investment into GVSI, dependent on WNFT’s ability to raise these funds.