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by Stockwatch Business Reporter
The TSX Venture Exchange fell 9.28 points to 781.03 Tuesday. Erroll Treslan's first capital pool shell, Nobelium Tech Corp. (NBL), has cancelled its qualifying transaction to acquire Fred Woods's Blockchain Royalty Corp. Blockchain Royalty claimed to be working on an asset registry for royalty payments. This is the second blockchain deal (and the third QT) that Nobelium has cancelled in the past year. It did not provide a reason. The shell has given up on blockchain technology. It now plans to acquire Peter Steele's Maximos Metals Corp. as its QT. Maximos is a Labrador nickel explorer, which just received $105,000 from the Newfoundland government to help with exploration at the North West property in Labrador. Nobelium will have more information shortly. It is trying to decide on a rollback ratio and a proposed financing.
Nobelium's first blockchain QT was with Alex Tapscott's Nextblock Global Ltd., and it attracted some negative media attention. Nobelium ended the deal last November, after Forbes reported that Nextblock's investor materials contained falsehoods. The target had included four high-profile people among its list of advisers, who were not company advisers. Mr. Tapscott, a former director of institutional sales with Canaccord Genuity, explained that the investor materials were just drafts and he had hoped that the high-profile people would join the company in the future. Nextblock's investor materials also named one of its real advisers, Dino Angaritis, beside a photo of an Australian fiction writer. Apparently Mr. Angaritis had requested his photo not be displayed. Again, Mr. Tapscott explained that the investor materials were just drafts.
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