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 News From The Witness Daily

GOP unsettled by narrow win in US House race in Arizona

Apr 25, 2018

GLENDALE, Ariz. — A big money push by the Republican Party and tweets from the president helped the GOP hold onto a U.S. House seat in Arizona they would have never considered endangered any other year. Despite the win, Tuesday's special election in Arizona's 8th Congressional District was much closer than expected and is a warning to Republicans that their tough year isn't getting any easier. The 8th District is heavily Republican and should have been an easy win for former state Sen. Debbie Lesko. But she only won by about 5 points in a district President Donald Trump won...

AP Exclusive: '93 Amtrak crash survivor relives each new one

Apr 25, 2018

MOBILE, Ala. — In the dark of night, three travelers advanced inexorably toward tragedy. Accompanied by her parents on her first train trip, 11-year-old Andrea Chancey couldn't sleep despite the steady rocking of the Amtrak coach. Aboard the same train after missing a flight, Ken Ivory lounged nearby. Miles away, Willie C. Odom steered a towboat as it pushed barges up a river that was getting foggier by the mile. A bump. A whoosh. A ball of fire. Suddenly, those three and more than 200 other people were caught up in what remains the deadliest accident in Amtrak history, the...

Malaysia releases photo of 1 assailant in Palestinian murder

Apr 25, 2018

KUALA LUMPUR, Malaysia — Malaysian police have released a photo of one of the two assailants who gunned down a Palestinian engineer this past weekend, and say the duo could still be in the country. Gaza's ruling Hamas militant group has accused Israel of being behind Saturday's shooting of Fadi al-Batsh, an important member of Hamas. Israel has neither confirmed nor denied involvement. Malaysian police earlier released computer-generated images of the two suspects, believed to be from Europe or the Middle East. On Wednesday, National police chief Mohamad Fuzi Harun said investigators found a motorcycle abandoned near the murder scene...

Durant, Green lead Warriors past Spurs into second round

Apr 25, 2018

OAKLAND, Calif. — Kevin Durant scored 25 points, Draymond Green led a smothering Golden State defense and the Warriors held off the late-charging San Antonio Spurs 99-91 Tuesday night to win Game 5 and advance to the second round of the Western Conference playoffs. Klay Thompson had another stellar shooting performance with 24 points, and Green contributed all over with 17 points, a career-playoff high 19 rebounds and seven assists. Golden State looked dominant until the fourth quarter even without injured two-time MVP Stephen Curry — and he could be back soon from a left knee injury. LaMarcus Aldridge converted...

Asian stocks slip following sell-off on Wall Street

Apr 25, 2018

TOKYO — Asian shares dipped Wednesday, mirroring a sell-off on Wall Street on worries over slowing growth and falling profits. KEEPING SCORE: Japan's benchmark Nikkei 225 slipped 0.3 percent to 22,206.51 and Hong Kong's Hang Seng lost 0.8 percent to 30,378.89. The Shanghai Composite shed 0.3 percent to 3,119.31. South Korea's Kospi lost 0.9 percent to 2,442.06. Australia's market was closed for Anzac Day, a public holiday. Southeast Asian shares were also mostly lower. WALL STREET: The S&P 500 index sank 35.73 points, or 1.3 percent, to 2,634.56. The Dow Jones industrial average finished with a loss of 424.56 points,...

Weather, 20 December
Houston Weather
+7

High: +11° Low: -2°

Humidity: 83%

Wind: NNE - 7 KPH

Canberra Weather
+27

High: +27° Low: +17°

Humidity: 87%

Wind: W - 20 KPH

Roissy-en-France Weather
+6

High: +6° Low: -5°

Humidity: 87%

Wind: ENE - 7 KPH

Florence Weather
+9

High: +9° Low: +6°

Humidity: 97%

Wind: ENE - 17 KPH

Parga Weather
+7

High: +16° Low: +4°

Humidity: 100%

Wind: SE - 25 KPH