On a disastrous Monday when equity markets the world over are searching with miner’s helmets for a morsel of cheerful news, Vancouver-based BlockchainK2 Corp. (TSX-Venture:BITK) obliged investors with something to cheer about.
The holding company investing in blockchain technology solutions for capital markets and other sectors that can be made more efficient through tokenization, announced the acquisition of a majority stake in the private beauty, health and wellness company, Sobe Organics, Inc.
Sobe sells health and beauty products nationwide in the United States in over 1,800 independent stores including resorts, spas, pharmacies, salons, hotel chains and department stores. In addition, Sobe sells products online via its E-Commerce site. All Sobe products are made in the U.S. at farms certified by the Food and Drug Administration (FDA).
Sergei Stetsenko, CEO of BlockchainK2 stated: "The use of technology to verify the supply chain is transforming the game for large and small enterprises. Blockchain technology will allow Sobe to validate the origin, organic ingredients and natural processes in the supply chain of its health and beauty products with proof of authentication."
Stock prices moved slightly up, if at all, half a cent, or 4.6%, to 11.5 cents by noon EDT on Monday, on volume of 10,000 shares. Still, one takes good news where one can get it.
