Aida Minerals Corp. ("AMC" or the "Company") (CSE: AMC) (CSE: AMC.CN) (CNSX: AMC) is pleased to announce it has entered into a non-binding letter of intent (the "LOI") to acquire 100% of 10375977 Canada Inc., a blockchain technology company doing business as Greenstream ("Greenstream").
Under the terms of the deal, Aida will acquire all of the issued and outstanding common shares of Greenstream in exchange for the issuance of 7,000,000 common shares of Aida on a pro-rata basis to the shareholders of Greenstream, subject to certain performance-based vesting conditions. The LOI also contemplates that upon closing of the acquisition, Joel Yaffe, Greenstream's founder and CTO, will be engaged by Aida as the Chief Technology Officer.
Blockchain is an emerging technology category that facilitates trust and transactions through a secure and immutable distributed ledger system. It is being declared as a significant technology movement that will provide better and more secure solutions to numerous industries such as banking, supply chain management and transaction processing.