Long Blockchain Corp. Not Proceeding with Previously Announced Public Offering of Common Stock, Purchase of 1,000 Bitcoin Mining Machines Remains Unchanged
LONG BLOCKCHAIN CORP COMMON (LBCC)
US:NASDAQ Investor Relations:
investors.longislandicedtea.com
Company Research
Source: GlobeNewswire
Farmingdale, NY, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Long Blockchain Corp. (NasdaqCM: LBCC) (the “Company”) today announced that it is not proceeding with its previously announced public offering of common stock at this time. The Company is continuing with its plan to consummate the purchase of 1,000 Antminer S9 mining rigs and 1,000 APW3++ PSUs, which it expects to be shipped in January 2018 for immediate commencement of mining operations. Notwithstanding its intent to close on the proposed acquisition, the Company can make no assurances that it will be able to finance the purchase of the mining equipment. The Company continues to evaluate and explore multiple specific opportunities involving blockchain technology, including potential partnerships, investments and acquisitions. Blockchain acts as a public, decentralized ledger. This ledger provides a single, unified source of data, creating a clearer audit trail and consistency across parties. The Company believes that emerging bloc
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