Kognitiv is pleased to announce the completion of its acquisition of Xtreme Blockchain Labs Inc. (XBL) of Toronto, Canada on June 14th, 2019.
Kognitiv provides secure and compliant B2B technology as well as a unique business model designed to optimize yield. Kognitiv enables its clients and partners, using a unique consumer ID, to provide quantifiable value in conjunction with their products, including unique content and services, to their most important consumers.
XBL was established with the vision of operating as a blockchain-enabled compliant, regulated and secure platform for the issuance, tokenization and trading of alternative assets.
Kognitiv is rapidly gaining momentum globally with the introduction of its Unified Commercial Model (UCM) which serves to build, enable and scale transformative B2B trading relationships; such relationships are particularly advantageous to key verticals that have excess capacity with sub-optimal yields.
"The powerful addition of XBL to Kognitiv's existing Unified Commercial Model creates the opportunity for clients and partners steeped in technology to create their next act. An act that will see consumers recognize the benefits they truly deserve. All that requires is for them to activate their trading accounts." said Peter Schwartz, Founder and Chairman of Kognitiv. Schwartz continued, "I'm looking forward to realizing this new era with Kognitiv's clients, colleagues and partners. Our momentum shows that the market is ready for this next evolution."
"XBL and Kognitiv have identified several large and lucrative but inefficient asset classes and markets that are prime candidates for the application of our technology and expertise. Together, we are well-positioned to help clients monetize their assets better, raising yields and creating a superior experience for their consumers" said Mark Petrov, Founder and CEO of XBL.
XBL's founders, management and key shareholders, which include numerous Bay Street veterans at firms such as G3 Capital and Extreme Venture Partners, will be actively involved in working with Kognitiv to meet its performance targets.
The combined company looks forward to working together to usher in a new era of commerce and trading - one that is collaborative and cooperative.
This release contains forward-looking information within the meaning of applicable securities laws including, but not limited to the following: the integration of XBL technology; Kognitiv enabling its clients and partners to provide value and unique content and services; the momentum of its Unified Commercial Model; Kognitiv's ability to help clients monetize their assets better, raise yields and create a superior experience for their consumers; and Kognitiv's ability to meet its performance targets ("forward-looking statements"). Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, risks relating to the adoption and realization of benefits from, Kognitiv's UCM; risks relating to acquisitions, including inability to successfully integrate acquisitions and material operating losses or material negative implications for Kognitiv's financial condition resulting from acquisitions; risks relating to Kognitiv's international operations and global expansion; risks relating to system interruption, security breaches and the lack of redundancy in information systems; and risks relating to market acceptance of products and services and the inability to obtain new customers and retain existing customers. If any such risks actually occur, they could impact the potential for discussion, agreement or completion of a transaction and/or materially adversely affect the Company's business, financial condition or results of operations. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.