TORONTO, March 11, 2025 /CNW/ - Blockchain Venture Capital Inc. (the "Company" or "BVCI") (CSE: BVCI) announces that in connection with the Company's upcoming annual shareholder meeting to be held on April 16, 2025 (the "Meeting"), it has accepted the resignations of Marc Kealey, Justin Poy and Steve Olsthoorn from the board of directors of the Company. The following individuals have been appointed to replace the resigning directors as they will also be standing for nomination as directors at the Meeting: Yongbiao (Winfield) Ding, Fei (Bobby) Teng, and Ming Yeung.
Yongbiao (Winfield) Ding
Mr. Ding has been the CFO and director for a number of public companies in Canada. He is a seasoned senior finance executive with over 20 years of finance and operations experience. A former audit manager and currently a self-practitioner, he has worked in audit, taxation and advisory across a wide range of industries with a focus on public issuers financial reporting and advising Asian investors doing business in Canada. He is currently the CFO of Sparton Resources Inc. and Lode Gold Resources Inc. and board director of New Frontier Ventures Inc. He holds an MBA degree and is a chartered professional accountant of Ontario.
Fei (Bobby) Teng
Fei Teng is the founder and CEO of 168 Sushi Buffet and The Dragon BBQ Bar, bringing nearly 20 years of experience in the Canadian restaurant industry since starting his entrepreneurial journey in 2006. Beyond his success in the hospitality sector, he also leads GCCMG Corp. as CEO, a company specializing in tax and marketing consultancy for the restaurant industry. His leadership and contributions to the business community have earned him the prestigious Queen Elizabeth II Platinum Jubilee Medal. With a deep understanding of restaurant operations, taxation, and strategic marketing, Mr. Teng continues to shape and support the growth of the hospitality industry in Canada.
Ming Yeung
Ming Yeung is currently the Acting CCO/COO at BVCI and teaches part-time as an adjunct professor with Humber Polytechnic and George Brown College since April 2024. He was recently the Portfolio Manager and Operations Manager with Emerge Canada Inc. Ming started his career with TD and Scotiabank and possesses 25 years of experience in the financial industry.
Prior to joining Emerge, Ming was a Director, Regional Compliance, Asia with Manulife Financial Asia Limited in Hong Kong where he offered risk advisory, compliance oversight, program directorship for 14 Asian jurisdictions in two lines of business. Ming received his Bachelors from U of T and Brock University and Masters from Dalhousie University and Osgoode Hall Law School.
About the Company
BVCI is an Ontario incorporated company and is registered as a money service business with the Financial Transaction and Reports Analysis Centre of Canada (FINTRAC). It is a provider of an innovative technology infrastructure to participants in the emerging blockchain and distributed ledger technology industry. Instrumental to BVCI's business and growth strategy is BVC Chain, a proprietary blockchain platform and distributed ledger technology, which can operate as a centralized or decentralized ledger. BVC Chain was designed to be a turnkey solution, which can be customized and implemented by organizations wishing to deploy blockchain platform based solutions, products or services. BVC Chain will also serve as the platform and infrastructure for BvcPay and CADT. BvcPay is a cloud based mobile application that is intended to have the capability to function as a Digital Currency wallet and which can facilitate point of sale and online transactions using Bitcoin, Ethereum and CADT. CADT is the native Digital Currency of the BVC Chain, and it is intended to be a stablecoin. BVCI's CADT business division is expected to issue CADT, a cryptographic stablecoin supported on a 1:1 basis with an equivalent amount of Canadian dollar held in a custodial account. CADT is expected to support real time pricing, payment, settlement, digital asset issuance and ledger capabilities.
Unless and until BVCI obtains the necessary regulatory approvals or unless it can rely on an exemption from the prospectus and registration requirements in furtherance of the issuance and trading of CADT, there is no assurance BVCI will be able to pursue its proposed CADT business or any related BvcPay business that relies on CADT.
Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset if and when traded on secondary markets or that the reserve of assets will be adequate to satisfy all redemptions.
Forward-Looking Information and Statements Certain statements in this news release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company or the industry in which it operates to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this news release, the words "estimate", "believe", "anticipate", "intend", "expect", "pursue", "proposed", "plan", "may", "would", "should", "will", the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Forward-looking statements in this news release include, but are not limited to statements related to: the Company's business plans and strategies; and Mr. Griffin's contributions to the Company. Such statements reflect the current expectations of the management of the Company with respect to future events based on currently available information and are based on certain assumptions and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements, including assumptions and risks related to receipt of regulatory approvals and to carry on its proposed CADT business or any related BvcPay businesses. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading "Risk Factors", in the Company's listing statement, which is available on www.sedarplus.com., and in other continuous disclosure documents that are filed by the Company from time to time and which are available at www.sedarplus.com and to which readers of this news release are referred for additional information concerning the Company, its prospects and the risks and uncertainties relating to the Company and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of the Company to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent and investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking information contained in this news release is current only as of the date hereof. The Company does not undertake or assume any obligation, except as required by law, to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. No securities commission or regulatory authority has approved or disapproved the contents of this news release. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release nor have they approved or disapproved of the content hereof.
SOURCE Blockchain Venture Capital Inc.
