Blaqclouds, Inc. (OTC: BCDS) Completes Acquisition of ZEUS Blockchain Partners, Inc.
ROBESONIA, Pa., Dec. 10, 2024 (GLOBE NEWSWIRE) -- Blaqclouds, Inc. (OTC: BCDS) is pleased to announce the successful acquisition of ZEUS Blockchain Partners, Inc. ("ZEUS") from DMS Technology, Inc. This strategic acquisition solidifies Blaqclouds’ position as a leader in blockchain innovation while significantly expanding its footprint in the rapidly evolving decentralized technology sector.
Under the terms of the agreement, Blaqclouds, Inc. acquired 100% of the issued and outstanding shares of ZEUS, representing 100,000,000 shares of ZEUS Common Stock. As consideration, Blaqclouds issued a one-year convertible promissory note valued at $750,000 with an annual interest rate of 6% and a conversion price of .00825.
The transaction successfully closed on December 8, 2024, following the satisfaction of all customary closing conditions. Effective immediately, ZEUS will be fully integrated into the Blaqclouds ecosystem, enabling a unified approach to blockchain solutions, fostering technological innovation, and strengthening Blaqclouds’ presence in the decentralized finance (DeFi) space.
This acquisition highlights Blaqclouds’ commitment to delivering innovative, scalable blockchain solutions to a global audience, further reinforcing its position as a leader in the blockchain industry.
Key Assets Acquired
As part of the acquisition, Blaqclouds has secured a comprehensive suite of blockchain and internet properties, including:
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- A Layer 1 EVM blockchain with a native token, ZEUSx, used for gas and transaction fees.
- Features 3-second block times and processing speeds of up to 300,000 TPS.
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- A Layer 2 decentralized exchange (DEX) for swapping and creating liquidity pools on the ZEUS Chain.
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- A Layer 2 NFT minting engine on the ZEUS Chain.
- ZEUSx is the platform's native token.
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- A Layer 2 crypto payment plugin that supports over 500 tokens across multiple networks, including ETH, BNB, ZEUS, BASE, MATIC, and AVAX.
- Rebranded from DiVinciPay in Q3 2024, this platform integrates with WIX, WordPress, and custom code solutions for seamless payment processing.
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- A retail application enabling users to purchase gift cards from global merchants using cryptocurrency through ZEUSxPay.io.
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- A Layer 2 media application featuring resources for businesses accepting cryptocurrency, the Alley Cat Podcast, and a proprietary member chat platform.
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- A Layer 2 DEX built on the ZEUS, BNB, and ETH chains, utilizing AMPLE and ZEUSx tokens for transactions.
- A Layer 2 DEX built on the ZEUS, BNB, and ETH chains, utilizing AMPLE and ZEUSx tokens for transactions.
In addition, Blaqclouds has acquired a portfolio of over 1,000 blockchain-based domains that will serve as the foundation for future decentralized application (DApp) projects.
Strategic Rationale
This acquisition aligns with Blaqclouds' commitment to advancing blockchain innovation and leveraging ZEUS Blockchain Partners' expertise in creating scalable, secure, and efficient platforms. Together, the companies aim to accelerate blockchain adoption, expand product offerings, and maximize shareholder value.
Leadership Commentary
“We are thrilled to welcome ZEUS Blockchain Partners into the Blaqclouds family,” said Marjorie Schaefer, CEO of Blaqclouds, Inc. “This acquisition represents a significant milestone in our journey to become a global leader in blockchain technology. ZEUS’s robust platform and innovative approach align perfectly with our mission to drive growth and excellence.”
A spokesperson from ZEUS Blockchain Partners added: “Joining Blaqclouds marks an exciting new chapter for ZEUS. Together, we will unlock new opportunities, accelerate blockchain adoption, and deliver unparalleled value to our customers and partners.”
About Blaqclouds, Inc. (OTC: BCDS)
Blaqclouds, Inc. is a publicly traded company dedicated to developing innovative blockchain and decentralized solutions. The company focuses on leveraging technology to deliver scalable platforms, empower businesses, and create long-term shareholder value.
About ZEUS Blockchain Partners, Inc.
ZEUS Blockchain Partners, Inc. is a Colorado-based blockchain technology company specializing in decentralized finance (DeFi) and scalable blockchain ecosystems. ZEUS has pioneered innovative blockchain applications, providing secure and efficient solutions for businesses and individuals.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially from those projected. Blaqclouds, Inc. undertakes no obligation to update any forward-looking statements.
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