TORONTO – Braingrid Limited (CSE: BGRD) (“Braingrid” or the “Company”) is pleased to announce that it will be pursuing a change of business to an investment company (the “Proposed COB”) under the rules of the Canadian Securities Exchange (the “CSE”).
After an evaluation of the Company’s existing resources and a review of strategic options available to the Company, the Company determined to refocus its business operations from a “technology issuer” to an “investment issuer”. The board of directors of the Company (the “Board”) believes that its network of business contacts, the depth of experience of its management team and its overall entrepreneurial approach will enable it to identify and capitalize upon investment opportunities as an investment issuer.
It is anticipated that the Company’s name will be changed to “Tony G Co-Investment Holdings Ltd.” in conjunction with the completion of the Proposed COB. Although Antanas Guoga (commonly known as “Tony G”) has consented to the use of the name “Tony G Co-Investment Holdings Ltd.” by the Company, Tony G is not currently part of the Board or management of the Company and will not be appointed to the Board or management following the completion of the Proposed COB. In contrast, the new name reflects the intention of the Company to direct its investments towards companies in which Tony G has a significant equity interest and/or in which Tony G played a material role in developing the business.
In accordance with the policies of the CSE, trading in the shares of Braingrid have been halted pending review and approval by the CSE of the Proposed COB. The Company plans to shut down or dispose of its current assets in connection with the Proposed COB.
The completion of the Proposed COB is subject to the receipt of all necessary approvals, including without limitation shareholder and CSE approval of the Proposed COB.
In connection with the Proposed COB, the Company intends to adopt an investment policy (the “Investment Policy”) to govern its investment activities and investment strategy. A summary of the material terms of the Investment Policy will be disclosed in due course and, upon the completion of the Proposed COB, a copy of the Investment Policy will be posted on the Company’s profile at www.sedar.com.
As an investment issuer, the Company will look at multiple investment opportunities, with a particular focus on the blockchain technology, cryptocurrency, payment processing services, syndicated credit opportunities, online commerce and online gambling industries, as well as ancillary industries thereto. The Company will maintain a flexible position with respect to the form of investment taken and may employ a wide range of investment instruments. The Company may take an active role in management of its investee companies where its experience and contacts would be beneficial.
In connection with the Proposed COB, the Company has entered into a letter of intent on November 30, 2020 with all of the shareholders of News 3.0 Limited (“Cryptonews”), pursuant to which the Company shall purchase 51,000 shares of Cryptonews (representing a 51% interest) from existing shareholders for an aggregate purchase price of $3,600,000, payable by way of the issuance of a new class of preferred shares (the “Preferred Shares”) of the Company to be designated as Series “1” Preferred Shares (the “Cryptonews Investment”).
Cryptonews is a crypto-focused online media outlet that delivers original international news coverage on digital assets, blockchain, cryptocurrencies, and related content, including, but not limited to, market information, research, educational guides, product reviews, expert opinions, videos, and events. The key addressable audience includes cryptocurrency investors, enthusiasts, traders, industry professionals, and the general public interested in learning more about blockchain, investing, trading, and digital asset technologies. Cryptonews delivers content in English, French, Russian, German, Italian, Dutch, Persian (Farsi), Arabic, Chinese, and Turkish languages with the aim to expand its coverage to more local markets. Cryptonews’ current main revenue streams include the sale of advertisements, affiliate deals, and sponsored content such as press releases, sponsored articles, guides, reviews, and community events.
The completion of the Cryptonews Investment is subject to certain conditions, including but not limited to shareholder and CSE approval of the Proposed COB.
Tony G is contemplated to remain a substantial shareholder of Cryptonews following the completion of the Cryptonews Investment. Tony G is a founding shareholder of Cryptonews and has played an active role in the development of its business.
The Company has also entered into a letter of intent with a shareholder of Sportsclothes UAB (“Sportsclothes”) on November 29, 2020, pursuant to which the Company shall purchase shares of Sportsclothes (the “Sportsclothes Shares”) representing 20% of the issued and outstanding Sportsclothes Shares, for an aggregate purchase price of EUR 1,400,000 (One Million, Four Hundred Thousand Euros) (the “Sportsclothes Investment”). The purchase price will be payable by way of the issuance of Preferred Shares.
Sportsclothes is a Lithuanian online retailer of high-end basketball, leisure, football and tennis shoes, clothing and accessories. Sportsclothes has one wholly-owned subsidiary, Krepsininkams, UAB, a private company incorporated under the laws of Lithuania. Sportsclothes’ sales are placed through Amazon and eBay to customers in the United States and the European Union, and through its websites use https://shop.lympo.com/ and https://www.sil.lt/. Sportsclothes also maintains one physical store location in Kaunas, Lithuania. Sportsclothes’ integrated and unique e-commerce platform allows Sportsclothes to manage real time large amounts of products between different sales platforms, including Amazon, Ebay, its own retail shop and other websites.
Key distributors of Sportsclothes include Nike/Jordan, Adidas, Reebok, Puma and New Balance. As Sportsclothes has a fully automated warehouse and excellent relationships with top international couriers, Sportsclothes has the ability to deliver parcels to customers in Europe and the United States within two to three days of purchase orders. Sportsclothes has integrated and intends to expand integration via Paypal solution cryptocurrency technology into its websites and other sales channels allowing its customers to pay for products using various forms of cryptocurrencies.
The completion of the Sportsclothes Investment is subject to certain conditions, including but not limited to shareholder and CSE approval of the Proposed COB.
Tony G is contemplated to remain a substantial shareholder of Sportsclothes following the completion of the Sportsclothes Investment. Tony G is a founding shareholder of Sportsclothes and has played an active role in the development of its business.
Board and Management
In connection with the Proposed COB, it is anticipated that Andrew Parks will resign as Interim Chief Executive Officer of the Company and Gediminas Klepackas will be appointed as the Chief Executive Officer and a director. Douglas Harris will remain as the Company’s Chief Financial Officer and Andrew Parks, Ronald McKenna and Gregory Pepin will continue to act as directors.
Gediminas Klepackas is currently the Chief Executive Officer of Cryptonews. Mr. Klepackas is a professional manager with over 10 years of experience in international affiliate marketing. Out of those, he spent 8 years at Pokernews, helping with the expansion of franchise partners and managing the entire Lithuanian operations company. Aside from that, he has two years of experience in active sales within the fintech sector. He became immersed in the crypto market in early 2018 when he became Chief Operating Officer at Blockchain Centre Vilnius. For the past 2.5 years, he has been the Chief Executive Officer of Cryptonews and has grown it into a top 10 cryptocurrency news website globally.
The Rise of Online Casinos: How Technology is Changing the Industry
The popularity of online casinos has significantly increased in the modern world. Thanks to technological advancements, more punters can now access online casinos from PCs and mobile devices. This blog explores the rise of online casinos and how technology is changing the industry.
Development of Mobile Gaming
Mobile gaming has become one of the most prominent changes technology has brought to the online betting industry. With the advancement of smartphones and tablets, online casinos have developed mobile apps that enable users to access their preferred games whenever and wherever they choose. With the popularity of mobile gaming increasing, punters can now take their favorite casino games with them, whether traveling or taking a break for lunch.
Access to a Wide Selection of Games
Because of technology, gamers can now access various games, transforming the online casino sector. Internet casinos today include a wide variety of games, including older ones like video slots and virtual sports, as well as more modern ones like roulette and blackjack. They do not have the same overhead expenses as traditional casinos, so online casinos can offer games with bigger jackpot and casino bonus.
Using virtual reality technology is another way that technology alters the online casino sector. Players may enjoy a completely immersive casino scene from the comfort of their homes thanks to virtual reality technology. By offering players a more realistic gambling experience, this technology has the potential to transform the online casino market completely. Players can engage with dealers and other players in real-time using VR technology, simulating the social aspects of playing in a conventional casino.
The online gaming market is changing thanks to artificial intelligence. Online casinos may offer a more individualized gaming experience using AI technology to evaluate player behavior and preferences. Additionally, AI can spot and stop fraud and cheating, ensuring that online casinos are trustworthy and fair for all players.
The online gaming sector is changing because of blockchain technology. Blockchain technology is perfect for online casinos because it offers a decentralized and transparent way to store and handle data. In a provably fair gaming environment, players can confirm that the outcomes of their games are random and equitable using blockchain technology. Additionally, it can be utilized to provide a safe and open payment system that makes it simple and quick for players to deposit money and withdraw it.
Wide Range of Online Payment Methods
The popularity of online casinos has also risen due to the expanding acceptability of online payments. Credit and debit cards, e-wallets, and cryptocurrencies are now accepted online casino payment methods. This has facilitated player deposits and withdrawals and increased players’ access to online casinos in nations with less trustworthy traditional banking institutions.
To Wrap It All Up
Technology advancements have led to a huge increase in the popularity of the online casino sector. The online casino market will continue to expand and change as technology develops, offering players more thrilling and cutting-edge gaming opportunities than ever before.
How Blockchain Technology Enables Using Online Services Much Safer and Faster
Blockchain technology has become increasingly popular in recent years due to its ability to provide secure and fast transactions. The technology works by creating a decentralized and tamper-proof ledger, which makes it difficult for hackers to steal data or manipulate transactions. This has led to a wide range of use cases for blockchain technology, including online services such as banking, gambling, and e-commerce.
Blockchain Technology and Online Services
Blockchain technology has several benefits for online services. One of the most significant advantages is the security and privacy that it provides. Blockchain technology allows for secure transactions, which means that users can be assured that their personal and financial information is protected.
Monero and Technological Advancements
Monero is a cryptocurrency that uses blockchain technology to provide users with privacy and security. Monero has several technological advancements that make it stand out from other cryptocurrencies. For example, Monero uses ring signatures to keep transactions private, making it nearly impossible for anyone to trace a transaction back to its source.
Using Monero in Online Casinos
Monero is becoming increasingly popular in the online gambling industry because of its privacy and security features. Monero casinos allow players to deposit and withdraw funds anonymously, which can be especially attractive to players who want to keep their gambling activities private. Monero casinos also provide players with fast transaction speeds, which means that players can start playing their favorite games faster.
Using Monero Safely
While Monero casinos can be a safe and fun way to gamble online, it is essential to use reputable Monero casino sites. Players should research Monero casinos before depositing funds to ensure that they are reputable and safe. Players should also use strong passwords and two-factor authentication to protect their accounts from hackers.
Blockchain technology has transformed the online services industry, providing users with secure and fast transactions. Monero is a cryptocurrency that uses blockchain technology to provide users with privacy and security, making it an attractive option for online gamblers. While Monero casinos can be a safe and fun way to gamble online, it is essential to use reputable Monero casino sites and take steps to protect personal and financial information. As blockchain technology continues to advance, it is likely that we will see more use cases for this technology in online services, providing users with even more security and privacy.
Tech Trends Leveraging Online Gambling
Technological innovations have played a critical role in making the gambling industry what it is today. Previously, you would have to visit a land-based casino to wager on your favorite casino games or visit a sportsbook to bet on a live sports event. But thanks to technological innovations, the industry has dramatically changed. The Thai gambling enthusiasts can find a wide variety of Legal Gambling Sites, offering them the opportunity to enjoy their favorite games online. So, what are the tech trends leveraging online gambling?
Recent reports have revealed that more than half of online gamblers prefer using their mobile devices for their gambling ventures. Most of the gamblers stated they preferred mobile devices because they are convenient. For example, you can enjoy your favorite game on the go without having to visit a physical casino and being stuck in front of your computer.
Additionally, most gamblers love to keep their gambling activities private, and mobile devices can offer that. Other advantages of mobile gambling include the availability of free-to-play alternatives and safe mobile payment solutions.
Mobile betting has become more popular in the past few years. However, a new trend is slowly becoming trendy in the gambling industry – wearable devices. Some industry experts suggest that smartwatches could take over from smartphones as the preferred betting device.
For instance, the smartwatch market will reach 33 billion USD globally by 2022. Moreover, industry experts argue that gambling will play a critical role in this growth. As a result, you should expect online casino game developers to develop games that gamblers can access from multiple devices, including smartwatches.
Blockchain technology has already shown that it has the potential to redefine the gaming industry. Transparency is perhaps the most notable benefit the technology brings to the industry. This feature is made possible by the technology’s permanent verification procedure. The technology allows the parties involved to access a distributed ledger with a verified record that no party can manipulate. As a result, it has helped to improve trust in the betting system.
The technology also protects the players and online gambling operators from questionable practices. The blockchain system checks these malpractices, ensuring user personal information remains safe.
VR and AR Gaming
These two trends have become trendy in the online gambling industry. Virtual Reality games are slowly making inroads into the online gambling industry. The only setback has been the cost of equipment gamblers require to access these games.
On the other hand, Augmented Reality online casinos are also gradually redefining the future of online casinos. The casinos are becoming trendy because they can offer players a more immersive gaming experience that they cannot find on land-based casinos. As the required equipment becomes more affordable, these two technologies will become more accessible, making them more popular in the industry.
It is correct to conclude that the future of online gambling is in the hands of technological innovations. Therefore, if you want to know how the industry will look like 12 months from now, it would help to check out the emerging trends in the industry.
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