- Graph Blockchain Inc. (GBLC) has entered an agreement to acquire Niftable Inc. for $2.6 million
- The purchase price will be paid by issuing 52,000,000 shares of Graph at a price of $0.05 per share
- Niftable will become a wholly-owned subsidiary of Graph after the closing of the acquisition
- Graph has entered into an employment agreement with the Michael Yeung, the founder and president of Niftable
- Graph Blockchain Inc. (GBLC) is down 14.29 per cent trading at $0.03 per share as of 3:48 p.m. EST
Graph Blockchain Inc. (GBLC) enters an agreement to acquire Niftable for $2.6 million.
The purchase price will be paid by issuing 52,000,000 shares of Graph at a price of $0.05 per share.
Paul Haber, CEO and director of Graph Blockchain, stated,
“Charities have been hard hit by COVID and we believe the NFT space creates a great opportunity for charities to raise funds from not only their established donor base but to expand their reach into a whole new demographic, as NFT artists have not been shy about their backing for charitable causes or key social issues.”
The board of directors and shareholders of Graph may approve the agreement, the payment, and the issuance of the shares in exchange for the Niftable shares.
Niftable will become a wholly-owned subsidiary of Graph after the closing of the acquisition.
Additionally, Graph has entered into an employment agreement with Michael Yeung, the Founder and President of Niftable.
Michael Yeung commented,
” There are over 170,000 charitable and non-profit organizations in Canada… The marketplace for growing this business represents a massive opportunity for Graph and its shareholders.”
Niftable’s core business is to connect charities and their artists to the NFT world.
Niftable provides the execution of NFTs from creation to the sale and post-sale on behalf of its charity clients.
Graph Blockchain Inc. (GBLC) is down 14.29 per cent trading at $0.03 per share as of 3:48 p.m. EST.