Global Care Capital Inc. a global investment company which engages in early stage investment opportunities in private and public companies, is pleased to announce that further to its press release of December 30, 2020 it has entered into a share exchange agreement dated January 19, 2021 (the “Agreement”) between the Company, ASIC Power Corporation (“ASIC”) and the shareholders of ASIC which sets out the terms and conditions for the acquisition by the Company of all of the issued and outstanding securities in the capital of ASIC (the “Transaction”). ASIC is the first cryptocurrency company combining state of the art ASIC chips with royalty streaming contracts.
The material terms of the Transaction are as follows:
Closing of the Transaction is subject to, among other things, compliance with all applicable regulatory requirements and receipt of all necessary regulatory, corporate, third-party, board and shareholder approvals being obtained, including the approval of the Canadian Securities Exchange. There can be no assurance that the Transaction will be completed as proposed, or at all. The Transaction is an arms-length transaction and no change in management, or the Board of Directors of Global Care is being contemplated at this time.
One of the key assets of ASIC is an agreement with Valour Mining Inc (“Valour”) and its offering of miner-focused financial services – also known as MiFi. Under this agreement, Valour gives ASIC access to its innovative cryptocurrency mining royalty smart contracts and proprietary chip hardware. Miners get access to capital, yield enhancement and risk management solutions.
“We are excited to be part of Global Care Capital and help diversify their portfolio, giving them exposure to cryptocurrency through the royalty streaming model,” said Daniel Novak, co-founder & CEO of ASIC Power Corporation.
About ASIC Power Corporation
ASIC Power Corporation is a company focused on vertical integration of blockchain infrastructure, covering energy, hardware and software optimization focused on bitcoin as an underlying asset. Application-specific integrated circuits, or ASIC’s have been the underlying computing equipment required for the computer processing of algorithms to mine bitcoin and other cryptocurrencies. ASIC Power is at the frontier of providing an asset light approach for exposure to blockchain infrastructure globally.
About Global Care
Global Care Capital is a global investment company which specializes in providing early-stage financing to private and public companies. The Company engages in new, early-stage investment opportunities in previously underdeveloped assets and obtaining positions in early-stage investment opportunities that adequately reflect the risk profile.
GLOBAL CARE CAPITAL CORP.:
Alex Somjen, President & CEO