NOT FOR DISTRIBUTION TO US NEWSWIRES OR DISSEMINATION IN THE UNITED STATES
TORONTO, April 17, 2018 (GLOBE NEWSWIRE) -- Ethereum Capital Inc., (“Ethereum Capital” or the “Company”) a Toronto-based technology company whose objective is to become the central business and investment hub for the Ethereum ecosystem, is pleased to provide an update with respect to its previously announced reverse takeover of Movit Media Corp. (“Movit”) by way of a three-cornered amalgamation (the “Transaction”), and subsequent change of name to “Ether Capital Corporation” (“Ether Capital”). The completion of the transaction will make Ether Capital the first and only publicly traded company focused purely on the Ethereum ecosystem.
On April 13, 2018, Movit held an annual and special meeting at which Movit shareholders voted overwhelmingly in favour of certain matters in connection with the Transaction, approving, among other things, the continuance of the Company from British Columbia to Ontario, the consolidation of the issued and outstanding Movit common shares on the basis of one post-consolidation share for every 12.5 issued and outstanding shares, a change of name to “Ether Capital Corporation”, a new by-law and a share compensation plan.
Movit shareholders also elected the current directors of Ethereum Capital: Michael Conn, Som Seif, Benjamin Roberts, John Ruffolo, Boris Wertz, Liam Horne, Joey Krug, Camillo di Prata and Colleen McMorrow, to serve as the Company’s directors on the close of the Transaction.
Movit and the Company are working towards closing the Transaction. Closing of the Transaction is subject to a number of customary conditions. Subject to receipt of all approvals, including approval from the Aequitas NEO Exchange (the “NEO Exchange”), the Company expects that the Transaction will close on Tuesday, April 17, 2018 and that the common shares of Ether Capital will commence trading on the NEO Exchange under the ticker symbol “ETHC” on Thursday, April 19, 2018.
Immediately following the commencement of trading, Ether Capital will begin implementing its business plan which will initially involve investing the majority of its available funds into Ether, the crypto asset native to the Ethereum ecosystem.
About Ether Capital
Ether Capital is a Toronto-based technology company whose objective is to become the central business and investment hub for the Ethereum ecosystem. Ether Capital will invest in Ethereum’s native utility token “Ether” as a strategic asset, and selectively invest in or acquire Ethereum-based businesses. Founded by a highly experienced Board of Directors and management team, Ether Capital has the resources, experience and relationships to support businesses and invest in industry-shifting disruptive technologies. For more information, visit http://ethcap.co/
Further Information
For further information concerning this press release, please contact:
Lynnette Visaya
Kaiser Lachance Communications
647-725-2520 ext. 208
lynnette.visaya@kaiserlachance.com
This press release is not an offer of securities for sale in the United States, and the securities described in this press release may not be offered or sold in the United States absent registration or an exemption from registration. The securities have not been and will not be registered under the United States Securities Act of 1933.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “scheduled”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” occur or be achieved. Forward-looking information includes, but is not limited to, statements in regard to the expected terms and conditions of the Transaction (including the Amalgamation), the closing of the Transaction (including the Amalgamation) and timing thereof, the receipt of all requisite approvals in respect of the Transaction; the parties’ ability to satisfy the closing conditions for the Transaction; and the listing of the Movit Shares on the NEO Exchange under the symbol “ETHC”, the commencement of trading thereon and the timing thereof.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Movit or Ethereum Capital to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, geopolitical, technological and social uncertainties; delay or failure to receive all requisite approvals; a party’s inability to satisfy a condition precedent to the closing of the Transaction (including the obtaining of regulatory approval), and other risks related to the completion of the Transaction. Although the forward-looking information is based on Ethereum Capital and Movit’s reasonable assumptions at the date such statements are made, there can be no assurance that the Transaction will be completed, or that, if the Transaction is completed, that it will be completed on the terms described above, or that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Ethereum Capital and Movit do not undertake to update or revise any forward-looking information, except in accordance with applicable securities laws.