HealthSpace Data Systems Ltd. (CSE: HS; FSE: 38H) has signed a Memorandum of Understanding (MOU) with Vanbex Capital to assist with HealthSpace’s continued efforts in blockchain development.
Vanbex Capital, an integrated venture studio that invests in high growth blockchain ventures, will make a strategic investment of $1 million into HealthSpace, by way of a private placement. In exchange for the investment, HealthSpace will issue Vanbex Capital, sister company of Vanbex Group, 10,000,000 shares at a price of $0.10 per share. An additional 600,000 shares will also be issued in the private placement for a total issuance of 10,600,000 shares.
HealthSpace intends to use the net proceeds from the private placement for general working capital and to support sales marketing efforts for new commercial enterprise markets, such as restaurants, hospitality, hotels, and cannabis production & distribution as well as development of our blockchain technology.
“We are confident that this investment is the start of a long-term partnership. A partnership that was an easy decision for us because HealthSpace is a leader in their field.” said Kevin Hobbs, CEO at Vanbex Capital.
“Vanbex Group has an extensive track record of incubating successful blockchain companies with over 60 blockchain companies in their portfolio some of which are the top companies in the industry globally, and have been able to help their clients raise over $100 Million in ICO’s for their clients this partnership will help bring blockchain technology to the masses.” said Kevin Hobbs, CEO at Vanbex Capital.
“As we progress towards creating our blockchain platform for audit trails, it’s imperative we pick the right partners. Vanbex has the all right track record and experience and brings immense value.”, says CTO Silas Garrison. “We couldn’t be happier to work with not only them, but are also excited about the opportunity to work with their other portfolio companies. We are sure that together, we can create an unparalleled approach in the blockchain.”
HealthSpace will also collaborate with Etherparty, a company in the Vanbex group of companies that is focused on providing an easy-to-use smart contract creation tool and, in particular, running Initial Coin Offerings (ICO). The company believes that this is part of the implementation of blockchain technology. This would allow for the additional generation of revenue through the new technology by extracting value at the transaction level.Etherparty’s suite of services and smart contract technology will help accelerate the development and production of the blockchain technology for HealthSpace’s specifc use cases which they are already leaders in.
photo credit: HealthSapce Data Systems