Northern Aspect Resources Ltd.

October 26, 2015 20:24 ET

Northern Aspect Files Filing Statement Regarding Qualifying Transaction with Blockchain Tech Ltd.

CALGARY, ALBERTA--(Marketwired - Oct. 26, 2015) -


Northern Aspect Resources Ltd. (NEX:NTH.H) (the "Corporation"), a capital pool company, is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the "Exchange") for its previously announced transaction (the "Transaction") with Blockchain Tech Ltd. ("BTL"), subject to fulfilling all of the requirements of the Exchange.

Pursuant to the Transaction, the Corporation will acquire all of the issued and outstanding securities of BTL. Upon completion of the Transaction, the Corporation (which will be renamed BTL Group Ltd.) is expected to meet all the listing requirements for a "Tier 2" technology issuer on the Exchange and will continue the business of BTL. The Transaction is intended to constitute the "Qualifying Transaction" of the Corporation, as such term is defined in Policy 2.4 of the Exchange.

For further information, please see the Corporation's filing statement dated October 23, 2015, which was filed today and is available on SEDAR at

The Transaction is expected to close on or about November 4, 2015.


BTL is a technology company incorporated under the laws of the Isle of Man. BTL's current business is focused on developing blockchain technologies to disrupt and transform existing industries. Technology is developed in-house and through BTL's incubator and accelerator programs, based in Vancouver, British Columbia. BTL's first technology platform is a remittance business called Interbit with a focus on leveraging blockchain technology to create rapid and cost effective "cash-in cash-out" settlement solutions between the United Kingdom and target countries.

See the Corporation's press releases dated July 21, 2015, July 24, 2015, August 31, 2015, September 8, 2015, September 30, 2015 and October 16, 2015 for further information about the Transaction, BTL and its business. The Corporation will issue additional press releases related to the Transaction and other material information as it becomes available.

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance and, if applicable, pursuant to the requirements of the TSX Venture Exchange, shareholder approval. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

Certain statements in this release are forward-looking statements, which include completion of the proposed Transaction, the date of closing of the Transaction, regulatory approvals, the proposed business of the company resulting from the Transaction and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of the Corporation. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Corporation undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Northern Aspect Resources Ltd.
    Brian Hinchcliffe
    President and Chief Executive Officer
    (914) 815-2773