|By Marketwired .||
|March 5, 2014 07:56 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/06/14 -- Blox, Inc. (OTCQB:BLXX) ("Blox" or the "Company") is pleased to announce it has completed its acquisition of International Eco Endeavors Corp., a private British Columbia, Canada corporation ("Eco Endeavors"), on February 27, 2014, pursuant to the terms of an amalgamation agreement, as amended (the "Amalgamation Agreement"), among Blox, Ourco Capital Ltd. ("Ourco"), Blox's wholly-owned subsidiary, Eco Endeavors, and two affiliated subsidiaries of Eco Endeavors. Blox closed the Amalgamation Agreement and completed the amalgamation of Ourco and Eco Endeavors under the name "Blox Energy Inc." ("Amalco"), thereby acquiring all of the issued and outstanding shares of Amalco on February 27, 2014. Following the amalgamation, Blox became a renewable energy company that indirectly owns an operating biogas plant in Hungary. Blox is also engaged in the development of other renewable energy projects and intends to expand into the provision of renewable energy services by applying sustainability initiatives to the industries of mining, technology, and infrastructure development.
Pursuant to the terms of the Amalgamation Agreement, and on the closing date thereof, all of the issued and outstanding common shares of Eco Endeavors were cancelled, and the former shareholders of Eco Endeavors received in exchange 60,000,000 units of Blox on a pro rata basis. Each unit consists of one common share and one share purchase warrant, each warrant exercisable into an additional common share of Blox at an exercise price of US$0.05 per share for a period of five years from the closing date. Based upon the price of the concurrent financing of US$0.05 per unit, the aggregate value of the common shares issued to the former Eco Endeavors shareholders was US$3,000,000.
In connection with the closing of the Amalgamation Agreement, Blox completed a non-brokered private placement, pursuant to which Blox issued an aggregate of 20,000,000 units at a price of $0.05 per unit for gross proceeds of US$1,000,000. Each unit consisted of one common share and one share purchase warrant, each warrant entitling the holder to acquire an additional common share at the exercise price of US$0.05 for a period of five years from the closing of the financing.
"The completion of this transaction serves as a significant milestone in the foundation of Blox," says the Company's new President and Chief Executive Officer, Robert Abenante. "As we proceed with our planned acquisitions, we are confident the continued growth will enable us to capitalize on many global opportunities." Blox anticipates closing its acquisition of Quivira Gold Ltd., as announced in its news release dated June 24, 2013, in the coming quarter.
Upon the closing of the Amalgamation Agreement, the Company's board of directors appointed Robert Abenante as a director of Blox and Robert Abenante, Cedric Wilson, and Robert Ironside were appointed directors of Amalco. Effective as of the closing of the Amalgamation Agreement, Ronald Renne resigned from all executive officer positions and Robert Abenante was appointed as Chief Executive Officer and President, Kimberly Gillett was appointed Corporate Secretary, and Marco Parente was appointed as Interim Chief Financial Officer.
"We are pleased to welcome Mr. Abenante and his team to Blox. The amalgamation brings years of experience in the renewable energy industry to the Company and we are confident this transaction will play a significant role in realizing the Blox vision," says the Company's Chairman, Ronald Renne.
Following the closing of the transaction, Blox had 101,572,464 common shares issued and outstanding. Blox anticipates filing a current report on Form 8-K, which will include the information required by a registration statement on Form 10, on EDGAR and SEDAR on or before March 5, 2014. The Form 8-K will include additional details regarding the terms of the Amalgamation Agreement, other agreements entered into pursuant to the Amalgamation Agreement, and financial statements for Eco Endeavors.
Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Forward-looking statements include statements regarding the intent, belief or current expectations of Blox and its management, such as statements that Blox intends to expand its renewable energy portfolio and Blox anticipates closing its previously announced merger with gold company Quivira Gold Ltd. in the next quarter. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to Blox's ability to obtain additional financing; Blox's ability to satisfy the conditions in the merger agreement with Quivira Gold Ltd.; adverse market conditions; risks inherent in the mining industry in general; and risks relating to mining operations in Ghana. Blox undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Blox's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact Blox's success are more fully disclosed in Blox's most recent public filings with the U.S. Securities and Exchange Commission.
CEO and President
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Sep. 24, 2016 06:30 PM EDT Reads: 1,558
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
Sep. 24, 2016 04:30 PM EDT Reads: 1,483
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Sep. 24, 2016 04:30 PM EDT Reads: 1,676
While DevOps promises a better and tighter integration among an organization’s development and operation teams and transforms an application life cycle into a continual deployment, Chef and Azure together provides a speedy, cost-effective and highly scalable vehicle for realizing the business values of this transformation. In his session at @DevOpsSummit at 19th Cloud Expo, Yung Chou, a Technology Evangelist at Microsoft, will present a unique opportunity to witness how Chef and Azure work tog...
Sep. 24, 2016 04:00 PM EDT Reads: 1,512
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
Sep. 24, 2016 03:45 PM EDT Reads: 1,411
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Sep. 24, 2016 03:00 PM EDT Reads: 1,013
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...
Sep. 24, 2016 02:15 PM EDT Reads: 1,178
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
Sep. 24, 2016 02:00 PM EDT Reads: 1,624
SYS-CON Events announced today that China Unicom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE F...
Sep. 24, 2016 01:30 PM EDT Reads: 1,670
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
Sep. 24, 2016 01:00 PM EDT Reads: 1,471
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
Sep. 24, 2016 12:00 PM EDT Reads: 730
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Sep. 24, 2016 12:00 PM EDT Reads: 741
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Sep. 24, 2016 11:45 AM EDT Reads: 1,015
In his session at @DevOpsSummit at 19th Cloud Expo, Robert Doyle, lead architect at eCube Systems, will examine the issues and need for an agile infrastructure and show the advantages of capturing developer knowledge in an exportable file for migration into production. He will introduce the use of NXTmonitor, a next-generation DevOps tool that captures application environments, dependencies and start/stop procedures in a portable configuration file with an easy-to-use GUI. In addition to captu...
Sep. 24, 2016 11:00 AM EDT Reads: 945
SYS-CON Events announced today that Secure Channels will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The bedrock of Secure Channels Technology is a uniquely modified and enhanced process based on superencipherment. Superencipherment is the process of encrypting an already encrypted message one or more times, either using the same or a different algorithm.
Sep. 24, 2016 10:45 AM EDT Reads: 1,396