Alchemist Signs Binding LOI with Vancouver based Rubikon Blockchain Corporation to deliver blockchain validated Seed-to-Sale software platform and a B2B wholesale craft cannabis marketplace to licensed operators in Canada and the United States
VANCOUVER, BC / ACCESSWIRE / April 1, 2019 / Alchemist Mining Inc (CSE: AMS) ("AMS" or the "Company") is pleased to announce the signing of a binding Letter of Intent ("LOI") for the acquisition of a 10% interest in Rubikon Blockchain Corporation. The purchase price shall be $902,882 Canadian dollars, paid in the common shares of the capital of Alchemist and $800,000 Canadian dollars of further investment, terms of which will be defined in the definitive agreement. Completion of the acquisition is subject to regulatory approvals and entry into a definitive agreement.
Rubikon's flagship software, CertiCraft, is a Seed-to-Sale (S2S) product information and compliance tracking platform for the cannabis industry. Combining RFID and IoT technologies with blockchain immutability provides a secure, automated, and comprehensive solution to the problem of visibility into a cannabis product's point of origin, lab certification, and proof it came from a legal, licensed producer.
"Rubikon's Certicraft, is without a doubt the most comprehensive and simple to use Seed-to-Sale application that we have seen, and we have seen quite a few. We are very excited about the opportunity to partner with the team at Rubikon and to seamlessly integrate their unique Seed-to-Sale software and B2B marketplace to the AMS Technology Platform", said Alchemist CEO Paul Mann.
"Partnering with Alchemist and its existing group of companies makes a lot of sense to us at Rubikon. Their industry reach, technology and business partners, along with their access to public markets, allow us the ability to accelerate our growth in the cannabis sector," said Joel Semczyszyn, CEO of Rubikon Blockchain Corporation
On Behalf of the Board,
Paul Mann, CEO
Alchemist Mining Inc.
For further information on this release, please contact:
Sukh Sandhu Investor Relations
About Alchemist Inc.
Upon affecting the Fundamental Change as announced on September 25, 2018, Alchemist's goal is to be a global provider of technology solutions to the cannabis sector. It will be primarily focused on investing and building a sustainable portfolio of business entities, by actively identifying opportunities in the developing global cannabis market, through a combination of acquisitions, incubations and investments, with a goal to create shareholder value.
About Rubikon Blockchain Corp.
Rubikon's flagship software, CertiCraft, is a blockchain validated, Seed-to-Sale (S2S) software designed for craft cannabis producers. Producers can stay compliant and track every product interaction with CertiCraft's one-click-compliance. The platform also generates real-time business intelligence and differentiates product quality by surfacing cannabinoid/terpene profiles, contaminant levels, and chain of custody data to consumers through the CertiCraft mobile app. CertiCraft allows craft cannabis producers to increase awareness of their products and facilitate wholesale transactions with up to the moment inventory through CertiCraft's integrated wholesale marketplace. Compliance, training, sales, and inventory management has never been easier. CertiCraft is Cannabis Compliance Made Easy.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward Looking Statements
This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "intends", "should", "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding: the proposed Acquisition; expected timing for when CertiCraft will be commercially available; payment of the Cash Price; and approval of the Acquisition by the CSE. 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, including: that the Acquisition will not complete; that CertiCraft will not be commercially available as or when expected; that the Cash Price will not be paid; that the Acquisition will not be approved by the CSE; that the Company will not be able to execute its proposed business plan in the time required or at all due to regulatory, financial or other issues; that the Company's competitors may develop competing technologies; changes in regulatory requirements; and other factors beyond the Company's control. Additional risk factors are included in the Company's Management's Discussion and Analysis, available under the Company's profile on www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.
SOURCE: Alchemist Mining Inc.