LAS VEGAS, Dec. 06, 2017 (GLOBE NEWSWIRE) -- Envoy Group Corp (OTC Markets:ENVV) (the “Company” or “Envoy”) is pleased to announce a major software licensing arrangement for some its Blockchain based products with Milestone Group PLC (AIM:MSG).
Under the terms of the Licence Agreement the Company has granted Milestone an exclusive sublicense for the British Isles and certain British Overseas Territories for a range of tech products, including the Blockchain Music platform using smart contracts, Card programmes and Know Your Customer (KYC) products. The agreement additionally allows Milestone to select features of the Black Cactus Global’s powerful Blockchain platform to build future Blockchain applications.
Milestone Group PLC (www.milestonegroup.co.uk), is a London based provider of digital media and technology and is listed on London’s AIM Stock Exchange under the symbol MSG.
As part of the agreement Milestone has agreed to pay Black Cactus a royalty of 10% of the first £500,000 of gross revenues and 5% on any gross revenues in excess of this amount. In addition, Milestone will issue Black Cactus Global a total of 744,131,477 shares, equal to 29.5% of Milestone’s enlarged share capital (“Share Consideration”). The Share Consideration is subject to shareholder approval.
"This is the first of many revenue generating deals we have planned,” comments CEO Lawrence Cummins. “We have an excellent working relationship with the Milestone group, and this expansive agreement will help us both solidify and grow the use of Black Cactus Blockchain Technologies.”
Envoys’ name change to Black Cactus Global will be effective upon FINRA approval.
About the Company
Black Cactus Global is a technology development company with a focus on Blockchain, machine learning, crypto currency, and the Internet of Things. We partner with international government agencies, large corporations and specialised groups on global development and consulting projects in our key development areas of fintech, digital media, financial services, cyber security, and healthcare.
Our mission is to pioneer the application of Blockchain and overlapping technologies to protect IP and the security of data and financial transactions.
For further information please visit our website at:
Safe Harbor Statements
Certain information contained in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates”, “intends” or “believes”, or that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, or “be achieved”. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the SEC. Such risks and other factors include, among others, the ability to locate and acquire suitable interests in alternative medicine manufacturing operations on terms acceptable to the Company, the availability of financing on acceptable terms, accidents, labor disputes, acts of God and other risks of the alternative medicine industry including, without limitation, delays in obtaining governmental approvals or permits, title disputes or claims limitations on insurance coverage. The Company believes that the expectations reflected in the forward-looking statements included in this news release are reasonable; however, no assurance can be given that these expectations will prove to be correct, and such forward-looking statements should not be unduly relied upon. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
Source:ENVOY GROUP CORP