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

Singapore euthanizes 27-year-old polar bear born in tropics

Apr 27, 2018

SINGAPORE — Inuka, the world's first polar bear born in the tropics, was euthanized Wednesday by the Singapore Zoo, officials said. The 27-year-old bear suffered from age-related ailments including arthritis, and its limbs became too weak to support its over 500-kilogram (1,100-pound) frame. The zoo said this resulted in injuries to its abdomen and paws which did not respond well to weeks of intensive treatment. A team of veterinarians and keepers decided not to revive the bear after it was anesthetized Wednesday for a thorough health check. "Looking at all the symptoms it is quite clear that from ... Inuka's...

Indonesia's Aceh canes couples for public shows of affection

Apr 27, 2018

BANDA ACEH, Indonesia — Indonesia's deeply conservative Aceh province on Friday caned several unmarried couples for showing affection in public and two women for prostitution before an enthusiastic audience of hundreds. The canings were possibly the last to be done before large crowds in Aceh after the province's governor announced earlier this month that the punishments would be moved indoors. The caning last year of two men for gay sex before a baying mob drew international attention to Aceh's increasingly harsh implementation of Shariah law and a wave of condemnation. The women accused of prostitution were caned 11 times each....

2,000 Kachin trapped by Myanmar fighting lack food, medicine

Apr 27, 2018

BANGKOK — Community leaders from the Christian ethnic Kachin community have called for urgent medical attention for about 2,000 civilians, including pregnant women and the elderly, trapped in the jungle where they fled to escape clashes between the Myanmar's army and the Kachin guerrillas in the country's north. The latest fighting in Kachin state's Tanai region — an area known for amber and gold mining — began in early April with government shelling and airstrikes in response to threats by the rebel Kachin Independence Army to retake lost territory. The Rev. Mung Dan, a Baptist community leader, said Wednesday the...

Vietnam and Indonesia vow to settle fishing violations

Apr 27, 2018

HANOI, Vietnam — Vietnam and Indonesia have pledged to work together to resolve fishing violations in the South China Sea as the two countries seek to boost their bilateral trade. Indonesian Foreign Minister Retno Marsudi, speaking to reporters Tuesday at a joint briefing with his Vietnamese counterpart, said the two countries would strengthen their partnership, cooperating particularly on fishing and other maritime issues. "In maritime and fishing cooperation, we agreed on how to conclude the ongoing issues in this regard," she said via a translator. "We have also agreed to try together to complete the demarcation of the exclusive economic...

Malaysia declares May 9 election day a holiday after outcry

Apr 27, 2018

KUALA LUMPUR, Malaysia — The Malaysian prime minister on Wednesday declared voting day on May 9 a public holiday after a decision to hold elections on a workday triggered complaints that it would deter mainly opposition supporters. The surprise move is seen as a bid to ease public anger a day after the Election Commission announced that voting will be held on a Wednesday, departing from the norm of having it on a weekend. The weekday vote triggered a flurry of complains that it would deter thousands of Malaysians from returning to their hometown to vote. Some companies responded by...

Sign up now!