Investment

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 [e-mail]

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

[e-mail]

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

 

END

 

 

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