BARTLESVILLE, OK, March 05, 2018 (GLOBE NEWSWIRE) --
Inolife Technologies Inc.(Bitcoin Generation Inc) (OTC- INOL) announced today that it has acquired a 20 million Euro Bond.
According to the company, Bitcoin Generation has acquired a Bond valued at 20 million Euro from QuickWash Bond Ltd, the USD equivalent to $24,447,200 at the time of the transaction.
The Bond was paid with the transfer of 20 million common shares of the company at a price of $0.15 for a partial payment of $3 million US, as well as 2,200,000 BCGc (Bitcoin Generation Coins.) at a price of $5.849236 for a partial payment of $12,868,320 US and 400 million BTA (Bitachon Coins) at a price of $0.0214472 for a partial payment of $8,578,880 US and for a total payment of $24,447,200 US.
The common shares transferred to the seller of the bond were an integral part of the 770,000,000 shares issued as per the tri-merger, and therefore the total common shares issued and outstanding remain at 850,537,176 common shares.
The company has transferred the coins to the bond seller and therefore the company holds a balance of 18.8 million BCGc (Bitcoin Generation Coins) and 4.1 billion BTA (Bitachon Coins).
The bond purchase serves to improve the financial condition of the company, and results in establishing a floor price for its coins without any dilution to our shareholders.
“The objective is to further the use for our utility coins and provide a sustainable shareholder value derived from its value, as well as its use,” said Deniz Hadjiev, President and CEO of Bitcoin Generation Inc. “This a small step in improving the financial situation of the company as we continue to build our mining operations.”
The Bond
Source: London Stock Exchange Unavista
Issuer: QuickWash Bond Ltd
Country: Great Britain
SEDOL: B979381
ISIN: GB00B9793589
Interest: 6.5% annual, Principal and Interest paid at maturity
Maturity: 10 years
About Bitcoin Generation Inc.
Bitcoin Generation Inc. is an Oklahoma corporation incorporated on December 21, 2017. The company specializes in the development of blockchain technology application, crypto currency mining, and crypto currency trading. The company owns 18.2 million Bitcoin Generation Token as well as 4.1 billion Bitachon Token.