The boss of 360 Blockchain Inc (CNSX:CODE) has praised the progress made by the blockchain technology investment company over the past couple of months.
In a letter to shareholders, President and chief executive George Tsafalas highlighted that the firm changed its name to 360 Blockchain and raised C$1.5mln from investors last month in an oversubscribed placement.
With the additional cash in place, 360 has sponsored and presented at the Monaco Growth Forums’ Blockchain Summit, opened a new office in Silicon Valley and appointed journalist and entrepreneur Jeff Koyen as its strategic advisor.
On top of that, the company has signed a non-binding letter of intent to acquire 60% of Silicon Valley-based SV Crypto Lab as well as a joint venture with NOS Blockchain Inc.
More recently, SV Crypto Lab entered contracts to mine Ethereum and Zcash – two of the world’s fastest growing cryptocurrencies, while only last week it established an American subsidiary company named 360 Blockchain USA Inc in order to drive momentum in the country.
Over the previous month we have advanced on multiple fronts including the launch of our 360 Blockchain brand, our acquisition letters of intent and joint venture arrangement, our participation as a sponsor and presenter at the Monaco Growth Forum Blockchain Summit, and the recent formation of our 360 Blockchain USA subsidiary,” said Tsafalas.
The stock was down 1.8% to C$0.28 in early deals on Monday.