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A shame what happened here...
SGGV registration revoked:
https://www.sec.gov/litigation/admin/2019/34-86763.pdf
SGGV SEC Suspension for severely delinquent Financials:
https://www.sec.gov/litigation/suspensions/2019/34-86505.pdf
Order:
https://www.sec.gov/litigation/suspensions/2019/34-86505-o.pdf
Admin. Proceeding:
https://www.sec.gov/litigation/admin/2019/34-86506.pdf
A previous press release said that SGGV has ownership on Blocpal. How would we find out what the actual details of the deal are? Seems that Sterling used resources to create Blocpal then made its own company which was then acquired by Genesis thus screwing any SGGV shareholders. Something seems fishy.
As part of its License agreement with BlocPal, the Company (SGGV) has also received a partial ownership position in BlocPal.
Wonder if this effects us any....
VANCOUVER, British Columbia – Genesis Fintech Inc. (“Genesis” or the “Company”) announced it has signed a letter of intent (“LOI”) for a business combination with BlocPal International Inc.(“BlocPal”).
Pursuant to the terms of the Acquisition, Genesis will acquire 100% of the issued and outstanding shares in BlocPal, thereby acquiring BlocPal’s intellectual property, development program, operations and key personnel. As consideration, Genesis will issue to the BlocPal Common Shareholders three Genesis Common Shares for each one BlocPal Common Share held (3:1 ratio). Any options or warrants for the purchase of BlocPal Shares outstanding at the time of the Acquisition will also be adjusted using the same ratio. It is anticipated that, immediately prior to the business combination, Genesis will have 3,100,000 common shares issued and outstanding and BlocPal will have 28,982,000 common shares issued and outstanding. Upon completion of the business combination, it is anticipated that the resulting issuer will have 90,046,000 common shares issued and outstanding. The resulting issuer intends to raise up to $5 million in new equity financing.
Upon completion of the business combination, Mr. Nick Mellios will be named as the CEO and President of the resulting issuer. Nick Mellios currently owns 6,375,000 of the common shares of BlocPal. The resulting issuer will be a reporting issuer and intends to apply for a listing on a recognized Canadian stock exchange.
“BlocPal is one of the first and leading fintech blockchain payment processors in Canada,” according to Simon Cheng, Director of Genesis. “We are very excited about BlocPal’s proprietary intellectual property and first-mover platform designed to make blockchain and cryptocurrency transactions easier, safer and more efficient.”
“The combination with Genesis is a key next step in the evolution of BlocPal, as we formalize our path to a public listing on a Canadian stock exchange. BlocPal has invested $2.6 Million into its innovative blockchain payments platform and is currently preparing to launch solutions for merchants and enterprise partners. The public listing will help BlocPal continue to raise capital, support the growth of its user base and achieve revenue targets” said Nick Mellios, CEO of BlocPal.
About Genesis Fintech Inc.
Genesis Fintech is investigating opportunities in the fintech and blockchain payment sectors.
About BlocPal International Inc.
BlocPal provides an advanced FinTech digital payments infrastructure focused on bringing the significant benefits of blockchain and digital currencies to the mainstream. BlocPal’s mission is to provide a simpler, smarter and more secure way to transact with crypto and traditional currencies. BlocPal has designed the first ‘multi-currency, multi-fiat’ decentralized blockchain, using proprietary technology to simplify and secure payment processing. With extensive developer APIs, BlocPal’s ecosystem supports point-of-sale terminals, ecommerce sites and financial applications, enabling users, merchants and enterprise partners to easily and safely transact with crypto or international currencies.
For further information, please contact:
Simon Cheng
Director
Phone: 604-689-0618
BlocPal
Elan Amir
Director of Marketing
info@blocpal.com
www.blocpal.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sad what has happened here.......nothingness....
Guess he found a newer, shinier toy....
BlocPal making deals and moving towards a listing in Canada.
Don't understand why Melios doesn't seem to care about this.
Here is to hoping this one wakes up in 2019!
Website still says launching August 2018...lol
Interesting interviews...though looks like Aug. 15th hasn't happened....
Definitely something up and looks like finally ready to go..to where no one knows..though I wonder (in a good way) about that 300k share transaction at around .10 several weeks back.....
I'm thinking positive as I don't think they waited the last 7+ years for nothing or to run it into the ground as they could have done that at any time....
yeah I found them and you are correct, they have been active
what handle are they posting under
They have began using Tweeter quite a lot and it seems that things are not going too badly.
Too much competition in what they are trying to do but let’s see.
what is going to happen? I lost track of what this company is
16 page PowerPoint investor presentation...Claims August Launch
http://www.blocpal.com/wp-content/uploads/2018/07/BlocPal-Deck.-SAFT.-July-11.2018.pdf
Yes.A big group of people working on the project.
They added org chart to the website at least....Let's hope they stick to the August launch which was where the counter was headed anyways...
Countdown gone.Adding a max of 30 days before launch but who can trust them now.
Added a new member to their team.He was the CEO of a company that has been revoked!
Otherwise he seems to have vast experience in financing and the stock markets.
Holding all here too as it appears something is about to finally happen in July/August time frame if u see the action plan on blocpal.com website....
Looks like the time is finally here...Been here 7+ years waiting so whats another month lol
The strange trading action here, with bid/offers appearing and disappearing at random intervals and a recent huge buy in of around a million shares up to around $0.10, seems to me that someone like a market maker or another large investor, is attempting to psyche out other investors.
I'm going to hold tight to see how this turns out.
Counter reset now up to 50 days.....
Looks like they have updated/revamped the website..
http://www.blocpal.com/
Definitely think it is more promising then just the gambling and what was going on previously. I have more confidence now and still holding..then again holding for like 6 years now lol.
Looking forward to news and launch over the month of June. Still say Raoul didn't do all this for nothing and this was his baby and he still has his big interest.
The price manipulation going on here would be hilarious if I didn't have a vested interest in the stock. Do you have any opinions on how SGGV will react when they finally get current and complete the BLOCPAL launch?
I believe (hope) yesterday's action was just a preview of things to come with BLOCPAL platform launch in 30 days.
Be interesting to see if whoever was buying yesterday steps up to take that 300k at .10 today sometime.
Great day here..thinking the next month is going to be interesting and real run...
$30k still on bit @ .10
I'm loving this!!!
.10 x .11 with big volume
Think all the answers are here..
http://www.blocpal.io/index.html
Launch is a month away and also check out the business plan and financing milestones....all happening over next month....imo
Mike, there's 571k on bid now at $0.097, I'd like to know what's going on.
Someone is spending $75k today, that's some serious buying
Volume coming in and look at those bids!!!
Their 10-K for 2016 came out last week so they are getting current slowly slowly.
The bad news was that the Indian venture didn’t go as planned so they are looking for other partners.
Then they say O/S is about 85M much lower than what the OTC has of over 250M.
And then they are optimistic that what they are doing with the cryptos is unique and not what so many others are trying to do.So let’s see.
Looks like July 1 going live...would expect to start seeing some steady news heading into that date...imo
Counter down to 49 days..
Thinking recent action indicates they will soon be ramping up PR/awareness prior to active date as we are only little more then month away....I would look for activity to increase over the coming couple of weeks...
SGGV opened with a bit of a gap up from yesterdays close of $0.05 vs todays open of $0.075. It's the best action in months
Something up for sure now...
Looking good this AM, 81k on bid and above current share price, only 13k on ask. Something good is definitely happening.
Nice...Bring it on....
Something must be up, highest sp in 6-mos
Looks like counter has been raised to 65 days out now
Nice find...seems like something may be happening in 45 days..Hopefully they also get current prior to that launch.
Here they are.Hopefully we will have more news from the company soon.
Nick Mellios has become their CEO too.
http://www.blocpal.io/index.html
I noticed the bid creeping up a little bit over the past few days.
I'm more than ready for this to move up, especially after last months pr only led to more selling. They have to be close to releasing updated financials?
Looks like a little activity this morning..Something brewing soon???
Usual reaction to news....LOL
I can't seem to find BlocPal International. Any else see it online?
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Mojo Games brings best in class products including poker, casino, sports betting and skill games alongside innovative and entertainment player experiences and rewards. With customization that’s a cut above, we’re ready to take your business to the next level no matter where you’re starting from.
Mojo Games is ready to bring our expertise to your business, whether you’re on your initial approach into e-gaming or you’ve been soaring in the industry for some time. Through seamlessly integrated games and rewards, fusion of offline and online experiences, social models to real money - we deliver value to both partners and players of all stakes and levels.
We’re always up for the next game. The ever evolving e-gaming industry has presented new revenue opportunities for our partners and players, as have we. Our products support PC, MAC, in-browser Mobile & tablet solutions. Our models range from play, real money and social freemium opportunities. And we’ve designed a solution to aid established land based operators enter the online market fully equipped.
We’re ready for wherever e-gaming goes, are you?
VANCOUVER, British Columbia, Dec. 02, 2016 (GLOBE NEWSWIRE) -- Mojo Games, a division of Sterling Group Ventures (SGGV) is pleased to announce a strategic partnership with VLeague Internet Technology Company Limited, a China corporation who is the exclusive online social gaming provider for Alisports' Chess and Card Division.
The partnership between VLeague and Mojo has been formed as part of an online strategy to support Alisports' recently announced plans to launch a worldwide poker tour. Officials from the Alibaba Sports Group held a press conference Tuesday in Shanghai to announce the International Poker Tour (IPT), a new poker tour with events to take place in China, Asia Pacific, North America and Europe with an estimated more than $7 million in tournament prize money to be awarded over the first year of the tour.
To view the 'Photo of Press Conference held in Shanghai', please visit: [http://orders.newsfilecorp.com/files/1075/23874_a1480661641549_5.jpg]
http://finance.yahoo.com/news/vleague-mojo-games-division-sterling-141800350.html
Sterling acquires Euroclub Holding Limited, an established global online gaming company with business in Brazil, Russia, India, China and Europe
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/16/16 -- Sterling Group Ventures, Inc. ("Sterling") (OTCQB:SGGV) is pleased to report that on November 11th, 2016, it signed a definitive share exchange agreement with Euroclub Holding Ltd ("Euroclub"). As a result, Euroclub will become a subsidiary of Sterling with business partners operating in Brazil, Russia, India, China and Europe. The company's online gaming platform is currently being launched nation-wide in India and China.
As a result of the acquisition, Mr. Nicolaos Mellios, the founder, CEO and significant shareholder of Euroclub, who resides in Vancouver, British Columbia, has been appointed CEO of Sterling. Mr. Mellios has been in the online gaming business since 1999. Mr. Nick Mellios, BSc, MBA, is responsible for overall technical and strategic management, and brings a broad background in technology and business development to his lead role at Euroclub. As co-founder and CEO, he has been responsible for raising financing, and assembling the technical and operations teams to build and support Euroclub's social and real money iGaming platform. He also leads business development efforts negotiating agreements with on-line and land-based gaming operators, and third party gaming providers. Prior to Euroclub, Mr. Mellios was the CEO of Yummy Interactive. Mr. Mellios co-founded Yummy to build a games-on-demand distribution and DRM (digital rights management) solution for mobile/broadband service providers, and application/game developers and publishers. Prior to Yummy, Nick held positions in New Business Development and Program Controls Management at Hughes Aircraft. He graduated from the University of British Columbia with an MBA and a bachelor of science in mathematics. Mr. Mellios has replaced Mr. Tsakok, MBA, CFA as CEO, who will remain an independent director and Chairman of the Audit Committee.
Euroclub has enjoyed substantial growth as per its unaudited financial statements over the past 2 years with revenue of EUR406,030 in 2014 and EUR655,224 in 2015.
Euroclub is a well-established online gaming company that provides a B2B and B2C multi-gaming platform under the MOJO brand name with a full suite of social and real money gaming products, including online poker, casino games and third party integrations to live dealer, e-sports, sports betting and skill games. Mojo offers B2B partners both API integrated and turnkey white label licensing options with comprehensive global payment processing. Mojo's registered office is in Malta with 25 technical staff in Vancouver, Dublin and Barcelona. Mojo supports over 20 B2B partners and B2C operations with gaming licenses in Malta and Curacao.
Under the terms of the agreement, Sterling will issue 170,285,696 common shares and 791,500 redeemable and exchangeable preferred shares which are convertible into common at $0.20. Once converted, those common shares have 5 warrants attached exercisable at $0.20 with a term of 3 years.
Concurrently with the acquisition of Euroclub, Sterling has arranged a US$500,000 private placement of 10 million units with each unit comprising of 1 common share at $0.05 and a Series "F" warrant convertible at $0.15 with a term of 1 year in order to fund Euroclub's immediate capital requirements for its entry into India and China expected in December 2016.
In addition, Mr. Patrick Martin and Mr. Sachin Pawa have joined the Board of Sterling as of November 11, 2016.
Patrick Martin, BSc, MBA, is the principal of business strategy at Zappos since 2014 and one of the architects of the current best customers strategy. He has expanded the data science and business intelligence capabilities of the organization. He has additionally held previous roles as a product manager at Zappos, and a senior engineer and development director at Electronic Arts Sports. Mr. Martin's areas of expertise include business strategy, technology management, big data and on-line/direct marketing. He received his BSc in Computer Software Engineering from the University of British Columbia and received his MBA from Northwestern University's Kellogg School of Management.
Sachin Pawa, BBA, MBA, has over 10 years of experience in building gaming ventures in India. He co-founded and developed Sol Entertainment Private Ltd., the operating company of the Crown Casino in Goa, India. He was the chief executive officer of Online for Playwin, India's largest licensed lottery business. He was also the co-founder and CEO of Blue Square Services, which operated the site Maharjahclub and was licensed in the United Kingdom. He has also set up and managed various successful retail stores and operations for distribution of mobile devices, including partnerships with the major network carriers in the United States. He graduated from the University of Technology, Sydney, Australia, with an MBA and from the Apeejay School Of Management in Delhi, India, with a BBA.
Mr. Gerry Runolfson has resigned as a Director of Sterling and the Board wishes to thank him for his contribution to the company.
ON BEHALF of the BOARD
Mr. Nicolaos Mellios, Chairman & CEO
For further information, please check the Company's SEC 8-K filing.
Any forward-looking statement in this press release is made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors, product prices and changes in international and local markets, as well as the inherent risks of the mining related business. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Sterling Group Ventures Inc.
Chris Mellios, B.Sc., MBA
(604) 684-1001
(604) 684-1001 (FAX)
info@sterlinggroupventures.com
Sterling Group Ventures Inc.
Christopher Tsakok, MBA, CFA
Director
(604) 684-1001
(604) 684-1001 (FAX)
info@sterlinggroupventures.com
www.sterlinggroupventures.com
Source: Sterling Group Ventures Inc.
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