Global Care Capital Announces Closing of Acquisition of ASIC Power Corporation

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Global Care Capital Inc. (CSE:HLTH, FRANKFURT: L6V1) (the “Company” or “Global Care”) a global investment company which engages in early stage investment opportunities in private and public companies, is pleased to announce that further to its press release of January 21, 2021 it has now completed the acquisition of all of the issued and outstanding securities in the capital of ASIC Power Corporation (“ASIC”) pursuant to the terms of a share exchange agreement dated January 19, 2021 (the “Agreement”) among the Company, ASIC and the shareholders of ASIC (the “Transaction”). ASIC is the first cryptocurrency company combining state of the art ASIC chips with royalty streaming contracts.

In connection with closing of theTransaction and pursuant to the terms of the Agreement:

• Global Care issued an aggregate of 100,000,000 common shares of Global Care (the “Consideration Shares”) to ASIC shareholders at a deemed price of $0.095 per Consideration Share.
• There is no hold period for the Consideration Shares pursuant to applicable securities laws.

The Transaction is an arms-length transaction and no change in management, or the Board of Directors of Global Care is being contemplated at this time.

“We are pleased to reach the finalization of our acquisition with Global Care which will bring capex light, revenue generating streams of digital assets through innovative financial royalties in the crypto mining sector,” said Daniel Novak, Co-Founder & CEO of ASIC Power. “Operating within the constructs of a public investment issuer will provide effective means of deploying and raising capital to build out our vision.”

About ASIC Power Corporation

ASIC Power Corporation is a company focused on vertical integration of blockchain infrastructure, covering energy, hardware and software optimization focused on bitcoin as an underlying asset. Application-specific integrated circuits, or ASIC’s have been the underlying computing equipment required for the computer processing of algorithms to mine bitcoin and other cryptocurrencies. ASIC Power is at the frontier of providing an asset light approach for exposure to blockchain infrastructure globally.

Website:

About Global Care

Global Care Capital is a global investment company which specializes in providing early-stage financing to private and public companies. The Company engages in new, early-stage investment opportunities in previously underdeveloped assets and obtaining positions in early-stage investment opportunities that adequately reflect the risk profile.

Website:

GLOBAL CARE CAPITAL INC.: 

Company Contact: 

Alex Somjen, President & CEO

604-687-2038

The CSE does not accept responsibility for the adequacy or accuracy of this release.

The securities to be issued in connection with the Transaction have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

Cautionary Note

All information contained in this news release with respect to ASIC was supplied by ASIC for inclusion herein, and Global Care’s directors and officers have relied on ASIC for such information.

Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on