Tickers: PINX:PNXPF, XTSX:PXI
Tags: Mining
Vancouver, British Columbia / TheNewswire / December 20, 2017 - Planet Ventures Inc. (the "Company") (TSX.V: PXI; FSE: P6U) is pleased to announce that it has made a strategic investment in FinX Solutions Inc.- a blockchain enabled mobile payment and remittance platform.
Planet has invested $250,000 at a $5 million pre-money valuation.
Founded in 2017, FinX is a technology company started by Exilion Technologies Inc. founder, Michael Shmulevich. Mr. Shmulevich was previously the Chief Executive Officer of a software consulting firm that specialized in the fintech, blockchain and algorithm-intensive solution industry. FinX has assembled an experienced management team with a successful track record of delivering technical projects within the fintech area, including cryptocurrency exchanges, algorithmic trading systems, smart routing solutions as well as the integration of other various financial services.
Prior to starting FinX, Mr. Shmulevich created and launched the BFX Swapmaster platform - a suite of algorithms for automating the lending of cryptocurrencies through multiple exchanges. The BFX Swapmaster platform has been successfully operating since mid 2015 and as of 2017, the platform was fully integrated as part of the FinX Solution.
FinX focuses on the development and marketing of white-label blockchain technology integration solutions for existing financial businesses. In particular, FinX's goal is to enable mobile payment, remittances and other financial business operations, to expand their current offerings by introducing cryptocurrency capabilities to their existing customer base.
The FinX Solution provides several key capabilities, which include:
-A smart secure wallet solution for over-the-counter cryptocurrency purchases;
-Sales and lending of traditional currencies and cryptocurrencies;
FinX is working to expand its current offerings by adding:
-Multiple currencies, multiple signature wallets and wallet support for ERC-20 tokens (ICO tokens);
-Smart routing capabilities;
-Integration with several major cryptocurrency exchanges in order to achieve best price execution and higher liquidity for users;
As the crypto market expands, it is Mr. Shmulevich's intent that FinX becomes the go-to platform for all existing payment applications that are seeking to incorporate blockchain solutions.
FinX is currently private but is exploring several go-public listing opportunities on a recognized North American exchange. Planet will update its shareholders as more information becomes available.
"This is a monumental investment for the company" says Zula Kropivnitski, Chief Financial Officer of Planet Ventures. "This deal perfectly exemplifies Planet's strategy in identifying revolutionary and disruptive technologies within the crypto-currency/blockchain arena, where we invest at a low valuation and work with the company in the hopes of creating substantial value for our shareholders in the coming quarters."
About Planet Ventures Inc.
Planet Ventures Inc. is positioning itself to be a leading investment issuer in Blockchain technologies and cryptocurrencies, providing investors exposure to a wide-range of investments in the Crypto/Blockchain markets. Planet invests in ICO's (Initial Coin Offerings) and its management is focused solely on creating shareholder value by exposing its investors to multiple opportunities in the Crypto/Blockchain market. The Company's initiative is to empower entrepreneurs developing disruptive technologies in the Blockchain space and provide them with the necessary capital and expertise to assist them in revolutionizing the industry. The company will retain its current investment portfolio and will continue to assess new opportunities for investment inside the cryptocurrency/blockchain space.
ON BEHALF OF THE BOARD
"Zula Kropivnitski"
_________________________
Zula Kropivnitski
Chief Financial Officer and Director
INVESTOR RELATIONS CONTACT
PLANET VENTURES INC.
Suite 303, 750 West Pender Street
Vancouver, British Columbia Canada V6C 2T7
Tel: (604) 681-0084 Fax: (604) 681-0094
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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