Online Blockchain PLC Investment

Date : 08/16/2018 @ 2:00PM
Source : UK Regulatory (RNS & others)
Stock : Online Blockchain Plc (OBC)
Quote : 20.0  0.0 (0.00%) @ 4:00PM
Online Blockchain share price Chart

Online Blockchain PLC Investment

Online Blockchain (LSE:OBC)
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2 Years : From Nov 2017 to Nov 2019

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RNS Number : 9360X

Online Blockchain PLC

16 August 2018

For immediate release

16 August 2018

Online Blockchain PLC

("Online Blockchain" or the "Company")

Investment

The Board of Online Blockchain PLC (LSE:OBC), is pleased to announce that Online Blockchain has agreed to invest up to US$100,000 in cash for up to a 35% interest in Encryptid Gaming Inc ("Encryptid"), a crypto gaming software development start-up company. Online Blockchain's subscription is payable over a period of time based on development milestones being achieved by Encryptid. The investment is being funded from Online Blockchain's existing cash resources.

Encryptid (https://encryptidgaming.com) is a newly-incorporated US-based company which is planning to develop new crypto-based games, storable on the Ethereum blockchain.

The first planned game for initial development is "Cybernetika", a futuristic electronic world with roving robot-like creatures that can be trained, upgraded and put into tournament-style battles. Encryptid plans that Cybernetika will enable users to interact and raise their companion robot, and exchange them with other players.

Kyle Stratis of Encryptid Gaming Inc, said: "I am very excited to be working with the experienced team at Online Blockchain on this ambitious vision to transform gaming by leveraging the exciting possibilities of blockchain technology."

Clem Chambers, CEO of Online Blockchain PLC, said: "I have worked in and been at the forefront of the gaming world since the early 1980s and the advent of blockchain technology opens up a range of new potential gaming opportunities".

A copy of this announcement is available on the Company's website, at www.onlineblockchain.io.

For further information please contact:

 
Online Blockchain PLC 
 Clement Chambers 
 clemc@advfnplc.com 
 
Beaumont Cornish Limited (Nominated Adviser) 
 www.beaumontcornish.com 
Roland Cornish/Michael Cornish 
 44 (0) 207 628 3396 
Smaller Company Capital Limited (Broker) 
 Jeremy Woodgate 
 44 (0) 203 651 2910 
 
Cassiopeia Ltd (Investor Relations) 
 Stefania Barbaglio 
 

stefania@cassiopeia-ltd.com

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The person who arranged for the release of this announcement on behalf of the Company was Clement Chambers, Director.

ENDS

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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August 16, 2018 02:00 ET (06:00 GMT)

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