Belvedere completes COB transaction and name change to Helix Applications Inc.

1 minute read
30 October 2018

On October 30, 2018, Helix Applications Inc. ("Helix") (formerly Belvedere Resources Ltd.) (TSXV: HELX) announced that it had completed its previously announced change of business transaction with BlockCoBuilders Inc. ("BlockCo"), a developer of blockchain technologies and applications. Pursuant to the transaction, Helix acquired all of the issued and outstanding securities of BlockCo from its shareholders in exchange for 16,600,000 common shares of Helix for aggregate deemed consideration of $13,612,000.

Following completion of the transaction, BlockCo is now a wholly-owned subsidiary of Helix. Helix intends to meet the listing requirements for a "Tier 2" technology issuer on the TSX Venture Exchange and Helix will continue the business of BlockCo.

Gowling WLG advised Helix with respect to this transaction with a team that included Gordon Chmilar, Stuart Olley, Christina Grimes and Stephen King.

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