Cascadia Announced Major Breakthrough In Blockchiain Industy
Jan 13, 2018
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
Northeasterly winds, ITCZ to bring rains in PH on Friday
MANILA, Philippines — The northeasterly winds and the intertropical convergence zone (ITCZ) will continue to affect parts of the country on Friday, Oct. 16, the state weather bureau said. According to its 5 p.m. weather advisory, the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (Pagasa) said that cloudy skies with scattered rains and thunderstorms will
PCSO lotto results Oct. 15: ₱50.42M jackpot has no winner
MANILA, Philippines—No bettor won the ₱50.42 million Super Lotto 6/49 jackpot or the ₱10 million Lotto 6/42 jackpot in the Philippine Charity Sweepstakes Office (PCSO) draws on Thursday, Oct. 15, 2026. According to the PCSO, the winning combination for Super Lotto 6/49 was 13-42-11-37-01-20, with a jackpot prize of ₱50.42 million. No ticket matched all
PSHS-QC campus suspends in-person classes due to flu-like illness
MANILA, Philippines — In-person classes were suspended in Philippine Science High School – Main Campus in Quezon City on Friday, Oct. 16, until Tuesday next week, due to reported cases of influenza-like illnesses. In an advisory, the campus announced that club and homeroom meetings on Friday will be held online. However, its card-giving activity to
SWS: 51% of Filipinos satisfied with VP Duterte’s performance
MANILA, Philippines — Vice President Sara Duterte continued to post the highest net satisfaction rating among four top government officials, despite a 10-point decline, according to a Social Weather Stations (SWS) survey. The SWS conducted the survey from Sept. 21 to 27 through face-to-face interviews with 1,500 Filipino adults ages 18 and older nationwide. The
WATCH: Mindanao politician linked to Laos drug flight tops INQToday newscast
MANILA, Philippines — Here are INQToday’s top stories this evening: The Philippine Drug Enforcement Agency says a politician from Mindanao financed the chartered flight linked to the seizure of 521 kilograms of suspected shabu in Laos. A witness also told a court that a “maleta” was allegedly sent to Senators Vicente Sotto III, Stella Quimbo
Anti-crime group chief, 4 others face arson charges at DOJ
MANILA, Philippines — United Pilipino Against Crime and Corruption (UPACC) Chairperson Pyra Nucum Lucas and four other individuals face an “destructive arson” complaint before the Department of Justice (DOJ) for allegedly intentionally burning a couple’s newly-built home in Capas, Tarlac. Complainants Emil and Analyn Cadiang — the couple who filed the complaint against Lucas, Arthur
Barbers: Prosecution should seek 16 votes despite 14-vote threshold
MANILA, Philippines — House prosecutors should still prefer to get 16 votes to convict Vice President Sara Duterte even though the Senate impeachment court had already adopted a lower threshold that will allow a verdict with 14 votes. Former Rep. Robert Ace Barbers, House impeachment adviser and trial spokesperson, explained in a statement that getting
Palace says Marcos listens to the public; Duterte leads in trust ratings
MANILA, Philippines — President Ferdinand Marcos Jr. listens to public concerns and considers the needs of different sectors when planning and implementing government programs, Palace Press Officer Claire Castro said Thursday Her statement came after Pulse Asia Research’s September 2026 Ulat ng Bayan survey found that 49 percent of respondents disapproved of Marcos’ performance, while
Kapunan: Were VP Duterte’s earlier bank balances declared?
MANILA, Philippines — Bank balances in Vice President Sara Duterte’s accounts that were later withdrawn would not show whether she correctly declared the money she allegedly held in previous years, private prosecutor Lorna Kapunan said on Tuesday in an interview on ANC’s “Headstart.” Kapunan challenged a hypothetical defense explanation that money could have passed through an
Benitez hits “cruelty” vs Josh Aquino: Respect the autistic people
BACOLOD CITY — House Deputy House Speaker and Bacolod City Rep. Alfredo Benitez on Thursday strongly condemned the discriminatory and insulting remarks directed at Josh Aquino in a viral podcast. He warned that freedom of expression is not a license to demean persons with special needs. In a statement posted on his official Facebook page,
Peace agreement anniversary: Gov’t, MILF shift focus to normalization
COTABATO CITY — The government (GPH) and the Moro Islamic Liberation Front (MILF) on Thursday, Oct. 15, marked the 14th anniversary of the Framework Agreement on the Bangsamoro (FAB), with the government’s top peace official saying the peace process will now focus on normalization. The shift follows the election of the region’s first Parliament last
DTI: Prices of water, basic goods stable amid looming ‘Super El Niño’
MANILA, Philippines — Trade Secretary Maria Cristina Roque on Thursday said supplies and prices for basic and prime commodities, including bottled water, remain stable despite the looming effects of Super El Niño. In a chance interview in Pampanga, Roque said there was no need to panic as supplies remained sufficient to meet demand. READ: DSWD to
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.