The company and AmmbrTech teamed up on an India venture and are exploring the launch of a wireless mesh network in northern Canada
Global Blockchain Mining Corp (CSE:FORK) advanced its push into professional services announcing the AMR crowdsale it conducted on behalf of a Singapore client concluded with 80% of the allocation purchased.
The cryptocurrency company said 320 million AMR tokens were sold for Ammbr Foundation Pte Ltd in the public crowdsale on the Singularity Exchange as well as private sales to institutional clients. The AMR token is a crypto asset that was developed by Ammbr for the automated buying and selling of Internet bandwidth.
Ammbr is working to provide “last mile” internet access to regions and communities that otherwise have no means of access. A crowdsale is a type of project financing that is carried out by issuing cryptocurrency tokens.
The proceeds were collected in a range of cryptocurrencies including Bitcoin and Ethereum, according to Global Blockchain. The company announced its partnership with Singapore-based Ammbr in October.
In January, Ammbr’s US-based affiliate AmmbrTech Inc had secured an infrastructure deployment contract with the India-based internet service provider Smartware Technologies Pvt Ltd, with rollouts planned across 53 cities and more than 15,000 villages in India.
AmmbrTech is beginning production on the first volume production order of Ammbr network hardware for India, which will underpin full commercial deployment beginning in May, according to Global Blockchain.
As part of a move to serve the resources industry as well as providing internet connectivity for disadvantaged communities, Global Blockchain and AmmbrTech are exploring the launch of a wireless mesh network under a joint venture in northern Canada.
‘Most pleased with the outcomes’
“We are most pleased with the outcomes of working with FORK so far,” Ammbr Managing Director Derick Smith said in a statement. “They have brought about great results in conducting sales of AMR, and cultivated new business opportunities, including a unique arrangement in which we can build wireless mesh networks on Ammbr for northern Canada.”
Global Blockchain President and CEO Shidan Gouran said “we congratulate Mr. Smith and his team for developing a scalable and dynamic wireless mesh networking solution using blockchain technology.”
Earlier this week, the company said the crowdsale it’s handling for Nuvo Cash Ltd was shifting to the Singularity Exchange to enable it to tap into a larger number of digital asset types.
On behalf of the Company:
Shidan Gouran, President and CEO
For more information please contact:
Global Blockchain Mining Corp. Investor Relations
About Global Blockchain Mining Corp.
With blockchain technology rapidly re-shaping the models of many companies, industries, and their business processes, Global Blockchain Mining Corp. (“FORK”) places a focus on the common needs of early-stage blockchain adopters. Originally founded with a focus on crypto-mining, FORK has recently diversified its offerings by placing an emphasis on professional services such as developing and administering launches of tokens and digital assets. Adapting to changes in blockchain technology, FORK is also now utilizing its computing power to provide consensus services, such as the operation of masternodes, servicenodes, and witnesses which are alternative methods to cryptocurrency mining for generating and acquiring digital assets. . Investors, through their investment in the Company, are provided with exposure to these tokens, cryptocurrencies and digital assets without the lengthy, and complicated process that interested investors must undergo in order to gain exposure to these cryptocurrencies and digital assets.
The Company is listed on the Canadian Securities Exchange (“CSE”) and its common shares trade under the ticker symbol “FORK”. Additional information relating to the Company is available on SEDAR at www.sedar.com, the CSE at www.theCSE.com as well as on the Company’s website at: www.forkcse.com.
Cautionary Note Regarding Forward-Looking Information
Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”,”may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. 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 onthe 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. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.