UnitedCorp Announces Wholly-Owned Subsidiary to Acquire Property Currently Housing its Quebec BlockchainDomes site and 10
January 18 2019 - 9:30AM
InvestorsHub NewsWire
UnitedCorp
Announces
Wholly-Owned Subsidiary
to
Purchase Property
Currently Housing its
Quebec BlockchainDomes site
and 10 Megawatt Power
Grid
MIAMI, FL
-- January 18, 2018 -- InvestorsHub
NewsWire -- Miami-based
United American
Corp ("UnitedCorp")
(OTC:
UAMA) announced today that
its wholly
owned
subsidiary
9688137 Canada Inc. (aka Blockchain Data
Centers) has entered into an agreement for the
purchase of the property in Quebec where its
first four BlockchainDomes are deployed and which is currently
leased to the company.
The property will be
purchased from 9382-9273 Quebec Inc
("9382") for a total consideration of
CD $1.1M which represents fair market
value. The
purchase is being financed via a standard mortgage on the
property.
9382 is a related party
through common
ownership with Investel Capital Corp
(Canada)
(Investel) which controls the majority
of UnitedCorp shares through a family trust. Investel will also
provide an
endorsement on the transaction.
"This transaction
will permit
UnitedCorp to further strengthen its balance sheet while
assuring control over the
long-term operation of
our
highly innovative
agricultural heat station technology
through the use of
conventional data
center-type
computers or mining rig
servers as heat
generators ," stated Lawry
Trevor-Deutsch, Vice-President of
UnitedCorp.
About
BlockchainDome
BlockchainDomes
provide heat for
agricultural operations using ASIC (application-specific integrated
circuit chip) mining servers with high
efficiency and
low-cost of operations. The
BlockchainDomes utilize a proprietary passive cooling
ground-coupled heat-exchange
technology to
cool the world's hottest-running computers used
for greenhouse
operations. The dry heat produced by the
BlockchainDome Heat Station is used year-round in positive pressure
greenhouses to reduce greenhouse mold and fungus caused by
condensation thereby reducing or eliminating the need for chemicals
to treat this problem. This creates conditions for a more organic
growth environment.
About
United American Corp
Established in 1992, United
American Corp is a Florida-based development and management company
focusing on telecommunications and information technologies. The
company currently holds the rights to manage a portfolio of patents
and proprietary technology in telecommunications, social media and
Blockchain technology, and owns and operates the BlockchainDomes
which are designed to provide heat for agricultural operations
using computer equipment in naturally cooled data centers where
efficiency and low-cost operations are a priority.
This news release
contains forward-looking statements that are subject to various
risks and uncertainties. The Company's actual results could differ
materially from those anticipated in such forward-looking
statements as a result of numerous factors that may be beyond the
Company's control. Forward-looking statements are based on the
expectations and opinions of the Company's management on the date
the statements are made, and the Company assumes no obligation to
update forward-looking statements should circumstances in
management's expectations or opinions change.
Source:
United American Corp
Contact:
Jenna Trevor-Deutsch
Investor Relations
investorrelations@unitedcorp.com
604 398 5000 ext: 109
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