February 13, 2018 / 6:31 PM / 3 months ago

BRIEF-DMG Blockchain Announces Acquisition Of Blockseer

Feb 13 (Reuters) - DMG Blockchain Solutions Inc:

* DMG BLOCKCHAIN ANNOUNCES ACQUISITION OF BLOCKSEER

* SAYS ‍DMG, THROUGH ITS U.S. UNIT WILL ACQUIRE BLOCKSEER FOR PURCHASE PRICE COMPRISING C$2.6 MILLION CASH & UP TO 7.7 MILLION DMG​ SHARES

* SAYS DEAL FOR ‍MAXIMUM TRANSACTION VALUE OF C$16 MILLION

* SAYS CO’S U.S. SUBSIDIARY WILL ACQUIRE ALL OF ISSUED AND OUTSTANDING SECURITIES OF DATIENT INC, DOING BUSINESS AS “BLOCKSEER”

* SAYS IN CONNECTION WITH DEAL, ‍DANNY YANG APPOINTED AS DMG CTO; SHELDON BENNETT APPOINTED AS COO, WILL ALSO REMAIN AS DIRECTOR OF DMG​

* SAYS POST DEAL, DMG-US WILL OWN 100% OF BLOCKSEER WITH DMG-US SHARES BEING OWNED ABOUT 61% BY CO & ABOUT 39% BY BLOCKSEER SELLING SECURITYHOLDERS Source text for Eikon: Further company coverage:

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