Codebase Provides Update on Its Holdings and Near-Term Investment Priorities
Friday, April 3, 2020 3:05 AM
VANCOUVER, BC / ACCESSWIRE / April 3, 2020 / Codebase Ventures Inc. ("Codebase" or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF), an investment company, provides updates on progress with its holdings World High Life PLC and Arcology, the current status of Pressland and the Company's future looking investment focus.
World High Life PLC is an investment company with a strategic focus to invest in or acquire companies operating in the CBD wellness and medicinal cannabis industry. It's fully owned subsidiary, Love Hemp, is a leading CBD supplier in the UK. Love Hemp has deployed the capital investments made in the company to expand its product line and broaden its sales and distribution, resulting in record monthly sales through the combination of its retail presence and its ecommerce site.
Arcology, a cluster-computing powered AI blockchain ecosystem with unlimited scalability, is advancing its presence amongst dAPP developers by launching a project on GitHub.com, the world's largest source code sharing platform. "With this intelligent client-end simulator, which we call Ammolite, the goal is to demonstrate Arcology's scalability, ease of use and compatibility within the developer community - a community that will be crucial in the adoption and use of Arcology into the future," said Arcology Founder and Chief Scientist Laurent Zhang.
The Ammolite simulator works closely with ParallelKitties - which is a supercharged version of CryptoKitties - deployed on the Arcology network, demonstrating the ease of developing super high-performance applications on Arcology. Ammolite simulates hundreds of thousands of dAPPs users on the network simultaneously.
In the current business climate, the Company's Pressland investment is being put on hold to deploy resources in the most effective manner where shareholder returns in the near term are prioritized. Leadership and the Board of Directors will re-evaluate prospects for the business model as the current health and economic crisis unfolds over the coming months.
Leveraging its extensive network in the medical science sector, the Company' leadership, board and advisors are actively pursuing pharmaceutical investment opportunities that can have a positive impact on the current global health care crisis as a result of COVID -19.
About Codebase Ventures Inc.
Codebase Ventures Inc. is an investment company, led by technology and business experts who invest early in great ideas in sectors that have significant upside, including the cannabis sector. We operate from the understanding that technology is always evolving, bringing early opportunities for strategic investments that can deliver the exponential returns to our shareholders. We seek out and empower the innovators who are building tomorrow's standards with platforms, protocols and innovations - not just products. We invest early, support those founders, take their ideas to market and work tirelessly to help them realize their vision.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
George Tsafalas or Ivy Lu
Telephone: 1 (778) 806-5150
E-mail: [email protected]
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Codebase Ventures Inc.