The Transaction Shares issued to the former Blockseer securities holders will be subject to vesting with such shares vesting ratably on a calendar quarterly basis over a two-year period following the Closing (the “ Trading Restrictions”).įollowing the Transaction DMG-US will own 100% of Blockseer, with DMG-US shares being owned approximately 61% by DMG and approximately 39% by the selling securityholders of Blockseer.
The number of Transaction Shares to be issued will be based on the 15-day volume weighted average trading price of DMG’s shares on the TSX Venture Exchange following the closing of the Transaction. subsidiary (“ DMG-US”), will acquire Blockseer for a purchase price comprising C$2,630,769 in cash and up to 7,673,076 common shares of DMG (the “ Transaction Shares”) with a maximum transaction value of C$16,000,000. Under the terms of the Transaction, DMG, through its U.S. Blockseer’s current team consists of seven (7) Blockchain developers located in Silicon Valley, California, USA, and is led by its Chief Executive Officer and founder, Danny Yang. Blockseer provides the analytics tools for these transactions and applications on the Blockchain. Blockchains are a new platform that enable transactions and applications (or smart contracts) in a decentralized setting.
subsidiary will acquire all of the issued and outstanding securities of Blockseer, and will close upon the TSX Venture Exchange’s approval.īlockseer is a private company incorporated under the laws of Delaware, U.S.A., with its business headquarters in Silicon Valley, California, USA.īlockseer’s mission is to make Blockchain data and applications accessible to everyone by providing valuable analysis of patterns, useful metrics, clear visualizations, and actionable intelligence. (TSX-V:DMGI) (“ DMG” or the “ Company”), is pleased to announce the acquisition of Datient, Inc., doing business as “Blockseer” (the “ Transaction”) pursuant to which DMG’s U.S. 13, 2018 (GLOBE NEWSWIRE) - DMG Blockchain Solutions Inc.
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