AXS Blockchain Solutions Inc. Signs Letter of Intent to Develop ZUBX P2P Cryptocurrency Marketplace Platform | Crypto
VANCOUVER, British Columbia, July 24, 2018 (GLOBE NEWSWIRE) — AXS Blockchain Solutions Inc. (“AXS Blockchain”) (CSE:BAXS) (FRA: C0B)is pleased to announce that it has entered into a letter of intent with Blockchain Foundry Inc. (CSE: BCFN) to create ZUBXTM, the world’s first Syscoin blockchain based peer-to-peer marketplace. ZUBXTM will allow traders to place sell orders for Bitcoin, Bitcoin Cash and Ethereum. Buyers will have the ability to engage directly with the sellers in a live instant messaging session to negotiate terms. ZUBXTM will act as an escrow agent for buyers and sellers by validating the fiat and cryptocurrency prior to each transaction.
AXS Blockchain has paid an initial deposit of US$200,000 to Blockchain Foundry, which amount will be held in trust by Blockchain Foundry to be credited against future costs associated with the development of the ZUBXTM platform.
About AXS Blockchain Solutions Inc.
AXS Blockchain is a blockchain solution provider that acquires and develops businesses devoted to enhancing the future of blockchain. Leveraging an extensive network of product development communities and digital media, AXS builds and creates partnerships with blockchain technology startups, that turn simple, innovative ideas into businesses supercharging the industry. AXS has engaged RockBank Capital Corp. to provide investor relations services on July 1, 2018, for a twelve-month term. Total compensation will be a cash fee payment totalling CAD$12,000. AXS has engaged 0868143 B.C. Ltd. to provide business development and media relations services on July 1, 2018, for a twelve-month term. Total compensation will be a cash fee payment totalling CAD$24,000. AXS has engaged Native Ads Inc. as their digital marketing agency and consulting firm on July 18, 2018, for a twelve-month term. Total compensation will be a cash fee payment totalling CAD$1,000,000. CAD$750,000 shall be allocated for digital advertising, paid distribution, and media buying over the course of the campaign period and CAD$250,000 shall be allocated for content creation, consulting, managed services and management fees over the course of the campaign period.
Blockchain Foundry develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology in their businesses. Blockchain Foundry has developed a proprietary blockchain-based e-commerce solution, Blockmarket, which is a downloadable software application and has begun development work on a Web-based Blockmarket application.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the proposed development of the ZUBX™ platform, AXS Blockchain’s relationship with Blockchain Foundry Inc., and other factors or information. Such statements represent AXS Blockchain’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by AXS Blockchain, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. AXS Blockchain does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
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