VANCOUVER, BC, May 31, 2021 /CNW/ – Cascadia Blockchain Group Corp. (“Cascadia” or the “Company”) (CSE: CK) announces financial results and operations update for the year ended January 31, 2021.
During the year ended January 31, 2021, the Company completed most of the fundamental building blocks for EBX including registration, login, individual investor’s KYC, deposit, trading, withdrawal, balance tracking, visual theming. In the backend portal, there are numerous of functionalities that are vital to EBX but unseen by our end users, for instance, KYC audit, fund monitoring, user management, etc. The Company also adapted the exchange web site to mobile browsers to increase the ease of use.
Furthermore, the Company has completed the works to allow EBX to serve institution investors, i.e. maximum size of funds control, iterations of polishing and tunings, translation. All technical works of EBX have now been completed and the Company is preparing a detailed marketing and sales plan for the official launch including:
- Using different online marketing channels such as YouTube, Instagram, Facebook and Tik-Tok to increase exposure and provide guidance for customers to sign up;
- Publication in local financial magazines; and
- Opening ceremony as the first government regulated crypto exchange in Kazakhstan.
EBX will be available in both English and Russian and will be launched in different phases, i.e. first open to retail clients and then make it available for institution clients. In addition, to ensure the Company has adequate funds available for EBX’s operation in the next twelve months, the Company is investigating financing options including private placement of debt or equity. EBX’s final launch date will be announced once the financing is confirmed.
Selected Financial Results
| Years Ended January 31 | ||||||
| 2021 | 2020 | |||||
| $ | $ | |||||
| Loss from continuing operations attributable to owners of the parent | (912,455) | (458,279) | ||||
| Loss per share from continuing operations | (0.01) | (0.01) | ||||
| Loss attributable to owners of the parent | (912,455) | (458,279) | ||||
| Loss per share – basic and diluted | (0.01) | (0.01) | ||||
| Total assets | 609,326 | 1,202,751 | ||||
| Non-current financial liabilities | (40,000) | – | ||||
About Cascadia
Cascadia is an early stage fintech and blockchain technology company listed on the Canadian Securities Exchange (CSE: CK). Its subsidiary, Eurasia Blockchain Fintech Group Limited (“EBFG”), has a conditional FinTech License to operate a crypto currency exchange and provide custodian services under the brand of Eurasia Blockchain eXchange (“EBX”).
The CSE does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Cascadia Blockchain Group Corp.
