Blackchain Announces Closing of Private Placement and Changes to the Board of Directors

Vancouver, British Columbia (FSCwire) - Blackchain Solutions Inc. (the “Company” or “Blackchain”) (CSE: BIS), announces the closing of its non-brokered private placement announced November 7, 2017.  A commission was paid on a portion of the private placement.

On closing the Company issued 25,000,000 units at a price of $0.075 per Unit for gross proceeds of $1,875,000.  Each Unit was comprised of one common share and one transferable share purchase warrant.  Each warrant entitles the holder to purchase one common share of the Company at a price of $0.10 per share for three years from closing of the private placement.  A finders’ fee of $79,397 cash and 1,058,632 warrants were issued.  Each finder’s fee warrant entitles the holder to purchase one common share of the Company at a price of $0.10 per share for a period of three years, expiring January 17, 2021.

The shares and any shares that are issued pursuant to the exercise of the warrants and the finder’s fee warrants are subject to a four-month hold period from the closing of the private placement.

The proceeds of the private placement will be used to launch the BlackChain P2P lending platform, built on top of the BlackIce ERA software suite. The company will announce more detailed information regarding the launch of this new platform in the coming weeks.

Corporate Up-Dates

The Company further announces that Judy Kalyan has resigned as a director, Chief Executive Officer, Chief Financial Officer and Executive Chair of the Company.  The board of directors would like to thank Ms. Kalyan for her dedication and contributions to the Company and wish her every success in her future endeavours.  Dale Paruk, a director of the Company, passed away last month.  The Company sends its condolences to his family.

The Company wishes to fill the board vacancies created with the appointment of Geoff Balderson as a director and Chief Executive Officer of the Company and Zayn Kalyan as a director, Chief Technology Officer and interim Chief Financial Officer

Geoff Balderson

Mr. Balderson has over 17 years of capital market experience and is the President of Flow Capital Corp. and Harmony Corporate Services Ltd., both private consulting companies located in Vancouver, BC.  Mr. Balderson is an officer and director of several other TSX Venture listed companies. Mr. Balderson is a former Investment Advisor with two Canadian Securities dealers, and a graduate of the University of British Columbia.

Zayn Kalyan

Mr. Kalyan is an experienced manager and software engineer who has been in fintech space for nearly 10 years. He has served in upper management of BlackChain, formerly BlackIce Enterprise Risk Management, since the Company went public in 2014. He has hands- on experience in the day-to-day management of a public company and has directed the development of multiple software products for the financial industry. As CTO of Blackchain he oversees and participates directly in the development of the Company’s ERA data platform and successfully delivers it to leading financial institutions globally. Having been involved in the blockchain space since the inception of Bitcoin, he brings a strong technical and business background to the leadership of BlackChain.

About Blackchain Solutions Inc. (CSE: BIS) (“Blackchain”)

BlackChain Solutions Inc. is a financial analytics and risk management company that focuses on the cryptocurrency economy, leveraging blockchain technology. Building on over 20 years experience in the financial industry, providing services to some of the world’s largest financial institutions, BlackChain provides the tools and platform that will transform the lending industry.

Blackchain is a publicly-traded company listed on the Canadian Stock Exchange (CSE); trading symbol BIS (C.BIS or BIS.cn). For more information about our company please phone us at 1-604-602-0001.

Blackchain Solutions Inc.

Geoff Balderson
CEO

Forward-Looking Information

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Blackchain Solutions Inc. Such information is based on assumptions made by the company's management. Although the company believes these assumptions are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any obligation to update publicly any forward-looking information, other than as required by applicable securities laws.

The CSE has not reviewed, approved or disapproved the content of this press release

To follow Blackchain Solutions Inc. on your favorite social media platform or financial websites, please click on the icons below.

Maximum News Dissemination by FSCwire. https://www.fscwire.com

Copyright © 2018 FSCwire