BTHMB HOLDINGS Pte. Ltd. cancelled the acquisition of Blockchain Industries, Inc. in a reverse merger transaction.
February 06, 2019
Share
BTHMB HOLDINGS Pte. Ltd. entered into a binding letter of intent to acquire Blockchain Industries, Inc. (OTCPK:BCII) in a reverse merger transaction on January 16, 2019. BTHMB/BXA has agreed to place $1 million into an escrow account as consideration for entering into the letter of intent. At the consummation of the transaction, Blockchain Industries shall become a subsidiary of BTHMB. BTHMB HOLDINGS Pte. Ltd., to be renamed as Blockchain Exchange Alliance. The letter of intent may be terminated by mutual written consent by either party after February 7, 2019 if a definitive agreement is not executed and delivered by the parties prior to such time, or if the transaction is enjoined by a court or any governmental body. The transaction is subject to diligence review by both parties mutual agreement on certain terms including, but not limited to, valuation and the entrance into definitive transaction documents. Under the terms of the letter of intent, the goal is to complete the merger on or before March 1, 2019.
BTHMB HOLDINGS Pte. Ltd. cancelled the acquisition of Blockchain Industries, Inc. (OTCPK:BCII) in a reverse merger transaction on February 7, 2019. The letter of intent expired on February 7, 2019.
Blockchain Industries, Inc., formerly Omni Global Technologies, Inc., is a diversified holding company, which is focused on investment opportunities and services in the blockchain space. The Company intends to target and acquire or build a portfolio of virtual currencies, digital coin and tokens, and other blockchain assets within four business verticals, such as digital asset bank and investment management, mining and trading, initial coin offerings (ICOs) and ventures, and media and education. Its tech consulting services include whitepaper review and generation, tokenomics modeling and structuring, investment curation and syndicate structuring, strategic partnerships and alliances, legal and compliance analysis, smart contract creation and auditing. It also offers ICO portal site creation, blockchain technology architecture and development, marketing and social media, and go-to-market plan for product/platform launch.