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360 Blockchain issues options over 6.6mln shares

Last updated: 16:15 05 Feb 2018 GMT, First published: 11:15 05 Feb 2018 GMT

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360 Blockchain wants to accelerate the development and application of revolutionary blockchain technologies

360 Blockchain Inc (CSE:CODE) said in a short statement it had issued 6.6mln options as part of its incentive plan for management and consultants.

Each option entitles the holder to subscribe for one share of 360 for 12 cents for seven years, subject to terms.

READ: 360 Blockchain set for C$2mln raise

Last week, the group said it had arranged a C$2mln placing to be used for working capital and potential business investments.

Units will be issued at 15 cents a pop, with each consisting of one share and one warrant.

Each warrant entitles the holder to subscribe for one further share  at 20 cents each for two years.

The firm retains the right to accelerate the expiry date if shares of the company trade at 50 cents or above for ten trading days.

360 Blockchain shares are currently up 4.17% to stand at C$0.12.

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