BTL Group Ltd. (“BTL” or the “Corporation”) is pleased to announce that it has established an Advisory Board and that Nicholas Stalder has been appointed as the initial member of the Advisory Board. Mr. Stalder’s appointment as an advisor furthers the commitment of the Corporation to become a world leader in blockchain technologies.
“We welcome Nick Stalder as the initial member of the newly established Advisory Board. Nick has 30 years of experience in the financial services industry, which experience will be valuable to the Corporation as it develops its blockchain and Interbit product solutions,” stated Guy Halford-Thompson, CEO of BTL.
The Corporation also announces the grant of options to acquire a total of 1,050,000 common shares (“Common Shares”) of the Corporation at an exercise price of $0.50 per share, such options to vest as to one-half on December 14, 2016 and one-half on December 14, 2017. The options expire five years from the date of grant. Options to acquire 500,000 Common Shares were granted to directors and officers of the Corporation, options to acquire 150,000 Common Shares were granted to a consultant of the Corporation and options to acquire 400,000 Common Shares were granted to employees of the Corporation.
BTL is a technology company whose current business is focused on developing blockchain technologies to disrupt and transform existing industries. Technology is developed in-house and through BTL’s incubator and accelerator programs, based in Vancouver, British Columbia. BTL’s first technology platform is a remittance business called Interbit with a focus on leveraging blockchain technology to create rapid and cost effective “cash-in cash-out” settlement solutions between the United Kingdom and target countries.
Early Warning Reporting
As a former shareholder of Blockchain, and in connection with the Transaction, GHR Investments Ltd. (“GHR”) (whose address is 11 Hope Street, Douglas, Isle of Man IM1 1AQ) now owns and controls a total of 2,700,000 common shares of BTL (acquired at an effective price of $0.15 per share), representing approximately 18.6% of the issued and outstanding shares of BTL. Mr. Guy Halford-Thompson, the Chief Executive Officer and a director of BTL, owns or control 50% of the shares of GHR. BTL is advised that GHR acquired these securities for investment purposes and has no present intention to acquire further securities of BTL, although it may in the future acquire or dispose of securities of BTL, through the market, privately or otherwise, as circumstances or market conditions warrant.
As a former shareholder of BTL and in connection with the Transaction, Smaller Company Capital Ltd. (“SCC”) (whose address is 4 College Hill, London, United Kingdom EC4R 2RB) now owns and controls a total of 2,000,000 common shares of BTL (acquired at an effective price of $0.15 per share), representing approximately 13.8% of the issued and outstanding shares of BTL. BTL is advised that SCC acquired these securities for investment purposes and has no present intention to acquire further securities of BTL, although it may in the future acquire or dispose of securities of BTL, through the market, privately or otherwise, as circumstances or market conditions warrant.
A copy of the early warning reports required to be filed by GHR and SCC with applicable securities commissions in connection with this acquisition will be available for viewing under BTL’s profile on SEDAR at www.sedar.com.
Certain statements in this release are forward-looking statements, which include the date of trading of BTL’s common shares on the Exchange, final regulatory approvals, the proposed use of proceeds from the Offerings and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BTL. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BTL disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BTL undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.