TEL AVIV, ISRAEL / ACCESSWIRE / October 22, 2019 / FIRST BITCOIN CAPITAL CORP (OTCPINK:BITCF) ("the Company") a prolific generator of more than 100 unique cryptocurrencies , developer of blockchain-powered technologies, owner of the patent related to the purchase and sale of cryptocurrencies utilizing an ATM or kiosk. The Company is proud to announce today that it has signed a Memorandum of Understanding (MOU) with Athena Bitcoin reflecting the intent to acquire 100% of Athena Bitcoin, a leading national Bitcoin ATM company.
The non-binding Memorandum of Understanding (the "MOU") with Athena Bitcoin ("Athena") has been entered into in order to acquire 100% of Athena in exchange for newly issued First Bitcoin Capital stock. Subject to completion of a comprehensive due diligence process by both parties, First Bitcoin Capital and Athena Bitcoin intend to subsequently enter into a Definitive Agreement (the "Agreement") to complete the transaction. The MOU anticipates the Agreement having two parts. The first is the exchange of newly issued stock in the Company issued in exchange for the stock of Athena. The second part would include an Earn Out where more shares of the Company would be issued and held in escrow until certain net revenue targets are met. The allocation of the shares of the Company to Athena's shareholders will, if completed, give rise to a change of control event for the Company under the terms of the MOU.
"Expert Market" Quotations Now Open To Broker-Dealers Trading First Bitcoin Capital Corp Common Stock:
According to the OTC Markets Group, their recently launched Expert Market "is a private market to serve broker-dealer pricing and best execution needs in securities that are restricted from public quoting or trading. Restrictions can be based on issuer requirements, security attributes, investor accreditation and/or suitability risks." Prior to the adding of this new feature to the "Other OTC" Market, where BITCF also continues to trade, market makers could only exchange quotes verbally between themselves and licensed brokerage firms. Adding this new function allows broker-dealers to exclusively see one another's bid/ask/size quotes in a quotation system hidden from public view.
New Exchange Listing Progress
While the listing process for the Canadian Stock Exchange (CSE) is taking longer than anticipated, the Company is taking all necessary steps to succeed and continues diligently to move forward. The company is concomitantly pursuing the necessary steps required to move to a higher level in the OTC Markets.
About First Bitcoin Capital Corp
First Bitcoin Capital Corp (BITCF) began developing digital currencies, proprietary blockchain technologies, and the digital currency exchange - www.CoinQX.com (in Beta) in early 2014. We saw this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex blockchain technologies and in developing new types of digital assets. Being the first publicly traded cryptocurrency and blockchain-centered company, we provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. Recently the Company had acquired the patent (USPTO Patent US9135787) related to the purchase and sale of cryptocurrencies utilizing an ATM or kiosk and we believe that this patent will provide us a unique and leveraged position, in addition to our other projects as we continue moving forward into the digital asset and cryptocurrency businesses. This patent complements our innovation in the field of cryptocurrency and Blockchain.
The Company began developing its own blockchain and cryptocurrency called First Bitcoin (COIN: BIT) in 2016. Recently the Company updated the BIT wallet and added more functionality. Users are able to generate BIT through the processes of POW and POS mining. The First Bitcoin cryptocurrency has a current supply of 20,707,629,255 BIT. It is currently trading on LIVECOIN.net
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Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's website and filings.
SOURCE: First Bitcoin Capital Corp.