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Blockchain Holdings provides corporate update on filing financial statements and its latest acquisitions

The company, through its wholly-owned subsidiary, Tracesafe Technologies Inc acquired health and safety wearable technology from WiSilica Inc

Blockchain Holdings Ltd. - Blockchain Holdings provides corporate update on filing financial statements and its latest acquisitions
The company hopes that TRACEsafe's technology deployment will allow people to safely return to work

Blockchain Holdings Ltd (CSE:BCX) (OTCMKTS:UTOLF) said Thursday that it plans to postpone the filing of its unaudited interim financial statements for the three months ended March 31, 2020 to avail of an exemption offered by the securities regulators in Ontario.  

On March 23, the Ontario Securities Commission offered companies a 45-day filing extension for the March 23 to June 1 period, to give them the time needed to focus on the business and financial reporting implications of the coronavirus (COVID-19) pandemic.

The company said it is continuing to work to file the interim filings and currently expects to have them filed on or prior to the extended filing deadline of July 16, 2020. The company also announces that management and other insiders are subject to an insider trading black-out policy.

READ: Blockchain Holdings subsidiary TraceSafe teams up with Toronto rugby team to get fans safely into the stadium

The company also summarized two key business developments. On November 12, 2019, it announced that its wholly owned-subsidiary, Wishland Properties Limited, closed on its investment in Airbeam Wireless Technologies Inc, which consisted of the acquisition of 9,876,191 Class A voting shares of Airbeam at a price of $0.12 per share for a total investment of $1,185,143.

More recently on May 12, Blockchain completed the acquisition through its wholly-owned subsidiary Tracesafe Technologies Inc, of the self-quarantine monitoring technology suite known collectively as "TRACEsafe" from WiSilica Inc. The company told shareholders that its burgeoning category of health and safety wearable technology is designed to help governments and corporations in reopening economies following the pandemic.

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive

Quick facts: TraceSafe Inc.

Price: 1.25 CAD

Market: CSE
Market Cap: $31.29 m

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