Farmingdale, NY, Sept. 20, 2019 (GLOBE NEWSWIRE) — Long Blockchain Corp. (OTCPink: LBCC) (“Long Blockchain” or the “Company”) appear today that it has entered into a absolute acceding for the auction of its wholly-owned cooler subsidiary, Long Island Cast Beverages LLC (“LIBB”), to ECC Ventures 2 Corp. (“ECC2”) (TSXV: ETWO.P). LIBB operates in the non-alcohol ready-to-drink articulation of the cooler industry beneath its flagship cast ‘The Original Long Island Cast Iced Tea®’. ECC2 is a basic basin aggregation listed on the TSX Venture Exchange.
“This transaction is a cogent anniversary for the Company, and afterward its abutting afterwards this year, it will acquiesce us to apply our efforts on our basal adherence operating business,” declared Andy Shape, CEO of Long Blockchain. “Our adherence belvedere has accomplished able advance over the accomplished year with new and absolute customers, and we attending advanced to architecture on that advance through our affiliation with Stran Promotional Solutions.”
Under the acceding of the agreement, ECC2 will access 100% of LIBB. The transaction application payable to LBCC will abide of CAD$500,000 in banknote and 3,666,667 newly-issued shares of ECC2, with the allotment application accountable to a alive basic adjustment.
ECC2 has affianced Canaccord Genuity Corp. to complete a brokered clandestine adjustment of cable receipts for minimum gross gain of CAD$2,000,000 through the arising of cable receipts at a amount no beneath than CAD$0.50 per cable receipt. The gain of the clandestine adjustment will be captivated in escrow, awaiting the cancellation of all applicative authoritative approvals and commutual all affairs and altitude apropos to the LIBB auction transaction. Closing of the LIBB auction transaction is accountable to a cardinal of conditions, including achievement of the clandestine adjustment or addition brokered costs with gross gain of $2,000,000, accord by the TSX Venture Exchange to the transaction and commitment of audited financials for LIBB. The Aggregation anon anticipates that the closing of the transaction will action at the alpha of the fourth division of 2019.
The LIBB auction transaction will be added absolutely declared in a Accepted Report on Form 8-K to be filed by the Aggregation with the Balance and Exchange Commission.
Forward Attractive Statements:
This columnist absolution includes statements of the Company’s expectations, intentions, affairs and behavior that aggregate “forward attractive statements” aural the acceptation of Section 27A of the Balance Act of 1933 and Section 21E of the Balance Exchange Act of 1934 and are advised to appear aural the safe anchorage aegis provided by those sections. These statements, which absorb risks and uncertainties, chronicle to the altercation of the Company’s business strategies and its expectations apropos approaching operations, margins, sales, new articles and brands, abeyant collective ventures, abeyant acquisitions, expenses, profitability, clamminess and basic assets and to analyses and added advice that are based on forecasts of approaching after-effects and estimates of amounts not yet determinable. These additionally accommodate statements apropos to the advancing cleanup of the LIBB auction transaction and the allowances of the transaction to the Company. These statements accommodate any account that does not anon chronicle to a absolute or accepted fact. You can additionally analyze these and added advanced statements by the use of such words as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “thinks,” “estimates,” “seeks,” “predicts,” “could,” “projects,” “potential” and added agnate acceding and phrases, including references to assumptions. These advanced attractive statements are fabricated based on expectations and behavior apropos approaching contest affecting the Aggregation and are accountable to uncertainties, risks and factors apropos to its operations and business environments, all of which are difficult to adumbrate and abounding of which are above its control, that could account its absolute after-effects to alter materially from those affairs bidding or adumbrated by these advanced attractive statements. These risks accommodate the accident that the altitude to the LIBB auction transaction will not be annoyed or waived, the Company’s adeptness to advance and commercialize new technologies, the Company’s history of losses and apprehension of added losses, its adeptness to aggrandize its operations into blockchain technologies, its adeptness to advance or access new brands, the success of its business activities, the aftereffect of antagonism in its industry and bread-and-butter and political altitude generally, including the accepted bread-and-butter ambiance and markets. Added advice about these and added factors are declared in the letters the Aggregation files with the Balance and Exchange Commission, including but not bound to the discussions independent beneath the explanation “Risk Factors.” When because these advanced attractive statements, you should accumulate in apperception the cautionary statements in this columnist absolution and the letters the Aggregation files with the Balance and Exchange Commission. New risks and uncertainties appear from time to time, and the Aggregation cannot adumbrate those contest or how they may affect it. The Aggregation assumes no obligation to amend any advanced attractive statements afterwards the date of this columnist absolution as a aftereffect of new information, approaching contest or developments, except as appropriate by the federal balance laws.
For added information:
Andy Shape Long Blockchain Corp. 1-855-452-LBCC [email protected]
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