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

Latest News

Kim Jong Un turns to his wife and sister to soften his image

Apr 20, 2018

TOKYO — North Korean leader Kim Jong Un appears to be trying out a new tactic to boost the image of his authoritarian regime — he's putting the spotlight on the women in his life. Over the past few months, Kim has increasingly shared the stage with his younger sister, who became an instant celebrity as his envoy to the Pyeongchang Winter Olympics, and his wife, a former singer in her late 20s. For sure, there is only one star of the show in North Korea, and that is Kim himself. But the greater public role for Kim Yo Jong,...

China's Weibo site backtracks on gay censorship after outcry

Apr 20, 2018

BEIJING — One of China's top social networking sites announced Monday that it will no longer be censoring content related to gay issues after the plan triggered a loud public outcry. Weibo.com was flooded over the weekend with the hashtags "#I'mGay" and "#I'mGayNotaPervert" after the Twitter-like platform said that cartoons and short videos with pornographic, violent or gay subject matter would be investigated over a three-month period. The microblogging site, which saw its Nasdaq shares fall on Friday, said in its amended post: "This clean-up of games and cartoons will no longer target gay content." A company spokesman refused to...

AP Exclusive: Jailed Chinese pastor's US family seeks mercy

Apr 20, 2018

BEIJING — The Rev. John Sanqiang Cao paid no more than three dollars for the trip that would end up costing him his freedom. For years, he and fellow Chinese Christian teachers would cross the river on a narrow bamboo raft from a tree-shrouded bank in southern China into neighboring Myanmar, carrying with them notebooks, pencils and Bibles. The journey that enabled the missionaries to slip between the countries — a distance no greater than 9 meters (30 feet) — always happened in broad daylight, according to a U.S.-based missionary who traveled with Cao. The ride on March 5, 2017,...

Red Bull's Ricciardo wins Chinese Grand Prix; 6th career win

Apr 20, 2018

SHANGHAI — Red Bull driver Daniel Ricciardo yanked off his right shoe, poured champagne into it as he stood on the podium, and then drank up to his unlikely victory in Sunday's Chinese Grand Prix. The Australian started from the third row, but took advantage when the safety car came out on the 31st lap to allow him to get fresh, soft tires when the other leaders were running on worn rubber and couldn't get in quickly to change. Ricciardo got quicker and quicker and took the lead on the 45th lap of the 56-lap race, overtaking Valtteri Bottas with...

China-US tariff spat: Mostly losers, but some winners too

Apr 20, 2018

BEIJING — China's threat to raise tariffs on U.S. exports could be a disaster for American soybean farmers but a boon to their Brazilian and Argentine competitors, European aerospace companies and Japanese whiskey distillers. Regulators picked products China can get elsewhere when they made a $50 billion list including soybeans and small aircraft for possible retaliation in a trade spat with Washington. That should help minimize China's losses if U.S. President Donald Trump goes ahead with a planned tariff hike and Beijing responds, said economist Lu Feng at Peking University's School of National Development. "Compared with the U.S. list, which...