Cascadia Announced Major Breakthrough In Blockchiain Industy

Canada has achieved yet another world’s first title in the Blockchain industry with the world’s first private placement entirely in Bitcoin

Vancouver, Canada - January 13, 2018 /PressReleaseAgency/ —

In addition to having the titles of the world’s first Bitcoin ATM and the world’s first reversed take-over transaction in the blockchain industry, Canada has once again secured its leadership with yet another world’s first title in the blockchain industry.  This time the historical milestone was made by Cascadia Consumer Electronics Corp. Cascadia, a Canadian publicly listed company in transition to the blockchain and fintech sectors.  Cascadia announced the completion of 425 bitcoin private placement, valued at US$ 6.12 million or C$7.71 million in total, on December 29, 2017, just one short week after its initial announcement of such plan.

“The lightning speed of execution is in-line with the pace of development in the blockchain industry. This historical milestone was made possible by a team of our internal staff and external advisors who have shown their dedication and capabilities to address various regulatory, legal and technical hurdles. This also showcases the high level of enthusiasm and support from the industry investors. Cascadia will be able to accelerate our transition and expansion into the blockchain and fintech sectors, pending approval from CSE on our proposed business change.” said Rachel Wang, Chief Executive Officer of Cascadia in the company’s press release announcing the completion of the private placement. According to Cascadia’s public filing, several well-known Asian institutional investors specialized in the blockchain and cryptocurrency sectors, such as FBG Capital, BitCapital, ChainFunder, Qtum, Nebulas, aelf participated in this round of Cascadia’s private placement.

In recent years, many new start-ups are using ICOs (or “Initial Coin Offerings”) to raise the necessary capital.  However, cryptocurrencies seem not very commonly used or accepted in the traditional capital market.  The Cascadia’s financing round entirely on cryptocurrencies is really the first time where there is a cross-over between the new fintech sector and the traditional capital market, proving that these two are not necessarily mutually exclusive from each other.

Cryptocurrencies is considered as a new form of digitalized representation on values of a project, a business, an asset or individual’s and institution’s wealth. This cross-over will have significant impact on the traditional capital market because the completion of a financing round entirely with cryptocurrencies by a publicly listed company will attract many others to follow. This will not only increase the additional investment and funding sources for publicly listed companies under the traditional capital market, but also widely broaden the investment opportunities available to cryptocurrency holders.  It is not difficult to imagine that this is just the beginning of a new era and in the foreseeable future, it is likely to see more innovative and creative transaction structure involving both the traditional capital market and the new fintech sector.

Contact Info:
Name: Garry Wong
Organization: Cascadia Consumer Electronics Corp

For more information, please visit http://www.globalnewsonline.info/canada-has-achieved-yet-another-worlds-first-title-in-the-blockchain-industry-with-the-worlds-first-private-placement-entirely-in-bitcoin/

Source: PressReleaseAgency

Release ID: 286681

More Press Releases

Zimbabwe's leader tries to rally white voters as gap narrows

Jul 21, 2018

HARARE, Zimbabwe — Zimbabwe's president is trying to rally white minority voters as the race in this month's historic election becomes too close to call. President Emmerson Mnangagwa told a meeting in the capital, Harare, that the era of land seizures from white farmers is over. The land grabs under former leader Robert Mugabe were deeply unpopular and contributed to the economic collapse of the once-prosperous country. Just 3 percentage points now separate former Mugabe deputy Mnangagwa and leading opposition challenger Nelson Chamisa, according to a new survey by the Afrobarometer research group. It surveyed 2,400 voters across the country...

Tokyo's 1964 Olympics echo through the city's 2020 games

Jul 21, 2018

TOKYO — Mariko Nagai walked outside Yoyogi National Stadium — the late-architect Kenzo Tange's masterpiece from Tokyo's 1964 Olympics — and pictured the city in that era. She was a university student from northern Japan who landed a job as an interpreter at the dazzling swimming venue, where American Don Schollander would win four gold medals. "I wouldn't say Japanese people were confident about the ability to become one of the advanced nations," Nagai said. "But we wanted to show how much recovery we had made." Tange's jewel, with a soaring roofline that still defines modern architecture, symbolized Japan's revival...

Stocks end slightly lower as traders shrug off trade talk

Jul 21, 2018

NEW YORK — U.S. stocks inched lower Friday as bond yields jumped, a shift that helped banks but hurt companies that pay big dividends. The dollar fell after President Donald Trump said China is manipulating its currency. Companies including Microsoft and Honeywell rose as investors were pleased with their quarterly reports, but General Electric stumbled. Stocks wobbled all week as investors reacted to solid company results as well as heightened trade tensions. The S&P 500 index was virtually flat for the week while the Russell 2000 index, which is made up of smaller companies that do more business inside the...

Trump heightens China tariff threat with no deal in sight

Jul 21, 2018

WASHINGTON — With President Donald Trump intensifying his rift with U.S. trading partners, economists are growing more doubtful that any deal that might benefit American workers and companies is in sight. Instead, many analysts say they expect the Trump administration to impose more tariffs on China and potentially other key U.S. trading partners. With those nations almost certain to retaliate, the result could be higher prices for Americans, diminished export sales and a weaker U.S. economy by next year. In an interview with CNBC that aired Friday morning, Trump renewed his threat to ultimately slap tariffs on a total of...

Markets Right Now: Microsoft leads gains for tech stocks

Jul 21, 2018

NEW YORK — The latest on developments in financial markets (all times local): 11:45 a.m. Stock indexes are edging higher on Wall Street as Microsoft leads gains for the technology sector. Microsoft rose 2.5 percent Friday after reporting a strong quarter for its cloud computing division. Industrial conglomerate Honeywell was also up 4.1 percent after easily beating analysts' profit forecasts. State Street sank 6.8 percent after delivering weak results and announcing an acquisition. The S&P 500 index rose 3 points, or 0.1 percent, to 2,808. The Dow Jones Industrial Average rose 45 points, or 0.2 percent, to 25,110. The Nasdaq...

Subscribe to our newsletter!

Your Name

Your Email Address