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VANCOUVER, British Columbia, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Block One Capital Inc. (BLOK.V) (ES3.F) (the “Company” or “Block One”) is pleased to announce that it has entered into a binding term sheet to acquire up to 40% of London, UK based OMMAT LTD. (“OMAAT”). OMMAT is a blockchain based, patented fintech solution aimed at democratizing the purchase and protection of natural capital such as rainforests. OMMAT has previously been featured in Forbes magazine: http://bit.ly/2DbBW5B
Pursuant to the Term Sheet, the Company is to invest US$500,000 into the operations of OMAAT. Block One and OMAAT intend to enter into a definitive agreement to set out the terms and conditions of the acquisition. In the even that no definitive agreement is executed, the binding Term Sheet will act as the definitive agreement. Additionally, the Company has a right of first refusal (ROFR) on future equity sales of OMMAT.
“One Meter at a Time” OMAAT LTD.
Through a combination of Blockchain based patented ecommerce technology, natural capital land acquisition, and tokenizing one square meter of land at a time; OMAAT will democratize the purchase and protection of natural capital by creating an open and transparent global commonwealth of land asset owners.
The OMAAT’s business model is to help preserve the Rainforest utilizing a large natural land reserve. OMMAT’s consumer-focused resale initiative will use online ecommerce sales and corporate (CSR) ‘Corporate Social Responsibility’ programs, in addition to product licensing opportunities. The initial target is to scale OMAAT through its registered brands ‘Cuipo’ ‘D41M’ and ‘CuipoCoin’ to protect 1 billion square meters of Rainforest. OMMAT’s goal is to preserve the large Rainforests of Central and South America, which are critical for climate mitigation and biosphere regeneration.
The Cuipo Rainforest Reserves in Central and South America represent some of the most diverse and critically endangered rainforests and biospheres in the world. OMAAT’s registered brand Cuipo (https://cuipo.org) previously featured on CNBC, is based in London and is set to join one of the most-high profile and successful start-up accelerator and technology communities of all time: RocketSpace. RocketSpace has nurtured from start-up to acquisition 18 Unicorns including Spotify, Uber, Hootsuite and over 1000 other tech businesses.
OMAAT specializes in developing technologies and infrastructure to save and protect endangered lands by the digitisation of conservation efforts, achieved through a patented virtual grid system and tokenization method “one square meter at a time”. Multiple revenue streams are generated through consumer land ownership; the launch of our proprietary cryptocurrency, product licensing, monetization of carbon assets and offsets, educational gift card products, global event and festival sponsorship opportunities and creation and management of (CSR) Corporate Social Responsibility services, for medium to large enterprises.
One of the specific marketing initiatives OMAAT has developed and launched is “Dance for One Meter” – (D41M) (http://dancefor1m.com) a social movement and meme created by “One Meter at a Time”. It is dedicated to combating rainforest deforestation through partnerships with global scale festivals, nightclubs and events, attended annually by millions of Millennials. By simply attending a “Dance for One Meter” partnered event, for as little as $1.00 patrons automatically save one square meter of rainforest inclusive in their ticket price. Every purchase represents 1 square meter and the opportunity to own a CuipoCoin saved in their name and accessible via a preferred Crypto wallet. The land ownership is then recorded on a Blockchain ledger for transparency of the transaction. In addition, using Satellite and Google Earth technology, each individual can redeem and zoom into their exact coordinates on the Cuipo Foundation Rainforest Preserve in Central and South America. This consumer data base creates a large scale social media opportunity, to further share our Rainforest initiatives.
For more information on Block One please visit the Company’s website at: www.blockonecap.com
ON BEHALF ON THE BOARD.
Chief Executive Officer and Director
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This news release contains forward-looking statements that are based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates. Although Block One believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in forward-looking statements include fluctuations in the price of Bitcoin, delays in deliveries and shipments, machines operating at the capacity expected, the price of electricity and other costs affecting profitability, availability of capital and financing on acceptable terms, general economic, market or business conditions, including the general acceptability of Bitcoin and cyrptocurrency, risks associated with regulatory changes, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, and uninsured risks,. These forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release and has in no way passed upon the merits of the qualifying transaction and has neither approved nor disapproved of the contents of this press release.
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