TechX Signs Definitive Agreement to Acquire Cryptobuddy Trading Signals Platform
VANCOUVER, BC, April 27, 2021 /CNW/ - TechX Technologies Inc. ("TechX'' or the "Company'') (CSE: TECX) (OTC: TECXF) (FRA: C0B1), a company focused in emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies, is pleased to announce that it has signed a Definitive Agreement (the "Definitive Agreement") to acquire 100% of the Cryptobuddy.ai predictive cryptocurrency trading signals platform, through its wholly-owned subsidiary, Bull Market Media Inc., in consideration of the issuance of 5,341,880 common shares in the capital of the Company (the "Shares") at a deemed value of $0.936 per Share for total aggregate consideration of $5,000,000. The Shares shall be subject to a hold period of four months and one day from issuance.
CryptoBuddy is a crypto trading signals platform that allows traders to safely navigate cryptocurrency market conditions and cut through the market noise with artificial intelligence ("AI") generated future price forecasts and trading signals.
CryptoBuddy Key Features:
- Leverages big data to find machine-recognizable patterns that are impossible for humans to identify
- Easy-to-navigate dashboard that simplifies complex data and presents it in a user friendly and easy to understand way
- Predictive analytics - Different charts and graphics for easy visualization on trends, current price, historical price, and forecasts
- 70-77% prediction rate accuracy
- AI system ingests over 1 billion data points daily and analyzes over 1,000 features
- Subscription model creates recurring revenue stream
- Coins monitored - Bitcoin, Ethereum, EOS, Litecoin and Ripple
Following the acquisition, the Cryptobuddy platform will rebrand and operate under the name "Alt Signals" (altsignals.com). This rebranding strategy reflects the evolution of the Company and its vision of the future.
"We are beyond excited about acquiring the CryptoBuddy platform, an AI crypto trading platform that provides the most comprehensive AI-generated price forecasts and trade signals to retail investors," said TechX CEO, Peter Green. "Retail investors are continuing to flock to bitcoin trading, meaning that secure, easy-to-navigate solutions with predictive, accurate analytics and predictions are essential. CryptoBuddy not only has the potential to provide crypto traders around the world with a competitive edge, it's subscription model brings in a recurring revenue stream that will increase along with the market's appetite for crypto."
The Company also announces that it has engaged Lytham Partners, LLC ("Lytham") for a month-to-month Investor Relations contract in connection with the Company's ongoing effort to increase awareness. Lytham will provide outreach services to inform investors about developments in the Company's business and affairs. Under the terms of this agreement, Lytham will receive $6500 USD / month.
About TechX Technologies Inc.
TechX Technologies Inc. is a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies. Led by senior leaders and industry experts, TechX invests in and provides subject matter experts within portfolio companies to accelerate success and maximize value for shareholders.
On behalf of the board,
Peter Green, CEO
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
SOURCE TechX Technologies Inc.
Ben Shamsian, Vice President Investor Relations - Lytham Partners, (646) 829-9701 or via email at [email protected].
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