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

Melted nuclear fuel seen inside second Fukushima reactor

Jan 23, 2018

TOKYO — The operator of Japan's crippled Fukushima nuclear plant said Friday that a long telescopic probe successfully captured images of what is most likely melted fuel inside one of its three damaged reactors, providing limited but crucial information for its cleanup. Tokyo Electric Power Co. said the fishing rod-like device carrying a camera went deep into the plant's Unit 2 primary containment vessel. The images indicated that at least part of the fuel had breached the core, falling to the vessel's floor, TEPCO spokesman Takahiro Kimoto said. "There is so much that we still haven't seen," Kimoto told reporters....

Niche tours of hidden Tokyo reveal grit and history

Jan 23, 2018

TOKYO — I've always resisted the idea of taking a guided tour on my annual visits to Japan. My interests are pretty niche and I know Tokyo well enough that friends there have trouble suggesting new things to see. This year I decided to try two guides offering personalized tours. One, Lee Chapman , is a photographer who specializes in older neighborhoods. The other, Mark Hobold, writes a history blog called Japan This ! that is sometimes too geeky even for me. Chapman says he takes guests to "an interesting, slightly grittier side of Tokyo that you never see in...

North Korea scoffs at Trump's 'nuclear button' tweet

Jan 23, 2018

TOKYO — North Korea's state-run media say U.S. President Donald Trump's tweet about having a bigger nuclear button than leader Kim Jong Un's is the "spasm of a lunatic." Rodong Sinmun, the ruling party newspaper, lashed out at Trump in a commentary on Tuesday that took issue with the U.S. commander in chief's Jan. 3 tweet that "I too have a Nuclear Button, but it is a much bigger & more powerful one than his, and my Button works!" A summary of the commentary by North Korea's official news agency described the tweet as "the spasm of a lunatic." "The...

China rebukes Zara, Delta for calling Taiwan 'country'

Jan 23, 2018

BEIJING — Chinese regulators rebuked fashion brand Zara, Delta Air Lines and medical device maker Medtronic on Friday for calling Taiwan a country on their websites in a fresh show of Beijing's acute sensitivity about the self-ruled island. Zara, Delta and Medtronic were ordered to remove the "illegal content" and make public apologies, airline and internet regulators said. Other airlines were ordered to check their own websites. Taiwan and the mainland split in 1949 after a civil war but the Communist Beijing government claims the island as its territory. It regularly lashes out at publishers of books, maps or other...

China orders Marriott to suspend website, app in map furor

Jan 23, 2018

BEIJING — Regulators have ordered the Marriott hotel chain to close its China-based website and app for one week after criticizing the company for referring to Tibet and self-ruled Taiwan as countries in a customer survey. The Shanghai Cyberspace Authority said Friday that Marriott was ordered to "to conduct a comprehensive self-examination and rectification to completely clean up illegal content." The CEO of Marriott International Inc., Arne Sorenson, said in a statement the company "respects and supports the sovereignty and territorial integrity of China." The survey sent to customers asked in which country they lived and gave options including Tibet,...