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Cascadia Announces Change of Business to a Blockchain Technology Enterprise

/EIN News/ -- VANCOUVER, British Columbia, Sept. 07, 2018 (GLOBE NEWSWIRE) -- Cascadia Blockchain Group Corp. (the “Company” or “Cascadia”) (CSE: CK) is pleased to announce that it has received the Canadian Securities Exchange’s (the “CSE”) approval to change its business to become a blockchain technology enterprise and to formally change its name from Cascadia Consumer Electronics Corp. to Cascadia Blockchain Group Corp. Cascadia’s stock will resume trading on market open September 10, 2018 under the existing symbol “CK”. 

The Company had applied for a change of business and a change of corporate name since December 2017. During this period of time, the Company has continued to build a solid foundation for future development of blockchain technology. For example, the Company closed Canada’s first private placement financing accepted bitcoins as consideration. The Company raised 425 bitcoins in total at the end of December 2017.  Also, the Company signed a 3-year licensing agreement with a customer for the use of its proprietary digital assets trading platform, which generates licensing income of $60,000 per month.  

Cascadia is currently in early stage of development for the application of blockchain technology under two divisions: (1) the Fintech division and (2) the Blockchain Lab division. For the Fintech division, the Company engages in developing and commercialization of trading platform technology for selected blockchain based digital assets and utility tokens. Under the Blockchain Lab division, the Company is planning to develop blockchain technology enterprise solutions and to provide related services for various industry sectors, which could be customized to the needs of the clients or designed as turn-key solutions. 

“We are very pleased to receive the approval from the CSE to change the Company’s business to a blockchain technology enterprise. We will dedicate our full resources to develop the Fintech and the Blockchain Lab divisions. We aim to help our clients to redefine their respective industries practice and to bring sustainable value to them in the long run,” stated Rachel Wang, President and CEO of Cascadia.

About Cascadia

Cascadia is an early stage blockchain technology company listed on the Canadian Securities Exchange (CSE: CK).

For further information, please contact:

Cascadia Blockchain Group Corp.
Rachel Wang
President and Chief Executive Officer
info@cascadiacorp.com
www.cascadiacorp.com

Disclaimer for Forward-Looking Information

All statements, other than statements of historical fact, included herein are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements in this news release include statements regarding the expected use of proceeds from the Financing and the Company’s intention to file a listing statement with the CSE. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements, including, without limitation, adverse market conditions, the CSE may not approve the Financing, and such other factors beyond the control of the Company. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

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