TSX-V Symbol: HELX
TORONTO, May 31, 2021 /CNW/ - Helix Applications Inc.
(TSXV: HELX) (the "Company" or "Helix") is pleased to
announce that, further to its news release dated May 17, 2021, the TSX Venture Exchange (the
"Exchange") has granted conditional acceptance of the
Company's proposed business combination (the "Transaction")
with GlobalBlock Limited ("GlobalBlock"). Helix is also
pleased to highlight that GlobalBlock is reporting record trading
volumes and revenues to date in 2021.
Resumption of Trading
The Company also announces that the Exchange has lifted the
trading halt on the common shares of the Company, such that those
common shares will begin trading again on the Exchange on
Monday, May 31, 2021.
Rufus Round, Helix CEO said:
"We are very excited about what the future holds for
GlobalBlock, especially after they've had such a strong start to
trading in 2021. At Helix we are of the view that we are still in
the early stages of the nascent digital asset space, so we believe
this business combination with GlobalBlock presents huge potential
for all stakeholders."
Update on GlobalBlock's Business
As GlobalBlock works to build out and expand its business and
its digital asset trading platform, and as investment and adoption
of digital assets / cryptocurrencies continues to grow, GlobalBlock
is reporting its best results to date with respect to its trading
volumes and revenues. For example GlobalBlock is reporting
that:
- Approximately £141 million of principal volume* has been traded
for the 2021 calendar year to date, versus approximately £48.4
million of principal volume being traded for the 2020 calendar
year.
- Its revenues are approximately £1,230,000 (unaudited) for the
period of April to May 28, 2021 and
approximately £1,680,000 (unaudited) for the 2021 calendar year to
date, which surpass GlobalBlock's previously disclosed revenues of
£869,550 (audited) for the period from March
31, 2020 to February 28,
2021.
* Principal volume traded is calculated by price of token
multiplied by the number of tokens.
David Thomas, Co-Founder of
GlobalBlock said:
"The business combination with Helix is going to allow us to
capitalise on the fast-growing digital asset industry. As well as
expanding the team to meet the increase in demand from customers,
we have exciting plans for new products and services. At
GlobalBlock we aim to be a leader in the provision of digital asset
trading services by using our experience of financial markets and
regulation to ensure customers receive a personalised service."
The Transaction
Now that the Exchange has granted conditional acceptance of the
Transaction in accordance with Exchange Policy 5.3 –
Acquisitions and Disposition of Non-Cash Assets, the Company
is working diligently to seek final approvals from the Exchange in
respect of the Transaction so that the Transaction can be
completed. The Company will make additional announcements related
to such final Exchange approvals as such approvals are
obtained.
ABOUT HELIX
Helix is a blockchain application and technologies developer,
listed on the TSX Venture Exchange (TSX Venture: HELX).
ABOUT GLOBALBLOCK
GlobalBlock is a UK based digital asset broker that provides a
personalised telephone broking service, trading platform and mobile
app. Established in 2018 by an experienced team of financial
services professionals, GlobalBlock acts as a trusted agent
serving the cryptocurrency needs of
individuals, corporates, institutional financial firms and
intermediaries, providing best execution trading and safe custody
of digital assets.
Investors are cautioned that there can be no assurance
that the Transaction will be completed as proposed, or at all.
Trading in the securities of the Company should be considered
highly speculative.
The Exchange has in no way passed upon the merits of the
Transaction and has neither approved nor disapproved the contents
of this news release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
Certain information set out in this news release constitutes
forward-looking statements or information. Forward looking
statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "plan", "continue", "estimate",
"expect", "may", "will", "intend", "could", "might", "should",
"believe" and similar expressions. In particular, this news release
contains forward-looking statements in respect of among other
things, the ability to obtain regulatory approval (including final
TSX Venture Exchange approval) for the Transaction, the ability of
the parties to complete the Transaction, the continued and
successful development of the businesses of each of Helix and
GlobalBlock, the ability of GlobalBlock to obtain the applicable
regulatory approvals (including permanent registration with the
Financial Conduct Authority in the United
Kingdom) to continue to conduct its business, the ability of
GlobalBlock to successfully expand its products and services and
other information concerning the intentions, plans, future action
and future successes of the Company, and GlobalBlock and the
resulting company and their businesses, technologies and products
described herein. Forward-looking statements are based upon the
opinions and expectations of management of the Company as at the
effective date of such statements and, in certain cases,
information provided or disseminated by third parties. Although the
Company believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions,
and that information obtained from third party sources is reliable,
they can give no assurance that those expectations will prove to
have been correct. Readers are cautioned not to place undue
reliance on forward-looking statements included in this document,
as there can be no assurance that the plans, intentions or
expectations upon which the forward-looking statements are based
will occur. By their nature, forward-looking statements involve
numerous assumptions, known and unknown risks and uncertainties
that contribute to the possibility that the predictions, forecasts,
projections and other forward-looking statements will not occur,
which may cause actual results in future periods to differ
materially from any estimates or projections of future performance
or results expressed or implied by such forward-looking statements.
These risks and uncertainties include, among other things, risk
factors set forth in the Company's most recent management's
discussion and analysis, a copy of which is filed on SEDAR at
www.SEDAR.com, and readers are cautioned that the risk factors
disclosed therein should not be construed as exhaustive. These
statements are made as at the date hereof and unless otherwise
required by law, the Company does not intend, or assume any
obligation, to update these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Helix Applications Inc.