Blackcloud Crypto Investments receives C$24M investment commitment from SPIRIT Blockchain Technologies

On March 6, 2018, SPIRIT Blockchain Technologies Ltd. ("Spirit") and Blackcloud Crypto Investments Inc. ("Blackcloud") announced that they entered into a Letter of Intent for Spirit to lead Blackcloud's ongoing financing with an investment of C$24 million into Blackcloud to support the development of Blackcloud's Canadian crypto mining operations.

SPIRIT Blockchain is a company that bridges blockchain technologies and digital-assets to traditional capital markets. The strategy is to be a global operator through joint venture arrangements with key infrastructure companies and also a strategic investor in the blockchain ecosystem with specific focus on the Bitcoin, Ethereum and Altcoin blockchains.

Blackcloud is a Canadian-based cryptomining venture that is building a leading cryptomining operation utilizing the technical expertise of its management team gained in the aerospace and data centre industries.

McCarthy Tétrault LLP advised Blackcloud with a team led by Wilson Acton that included Jeremy Busch-Howell (Business Law) and Robert Nearing (Tax).