Khot Infrastructure Holdings Ltd (CNSX: UTM) said its name change to Blockchain Holdings Ltd and its share consolidation were approved at the annual general and special meeting of shareholders held in April this year.
The Canadian Securities Exchange has conditionally approved the listing of the shares of Blockchain Holdings under the trading symbol BCX.
It means the firm will change the business from transportation infrastructure in Mongolia to developing proprietary indexes and ancillary data products for emerging blockchain and digital currency markets.
As previously reported, the plan was to consolidate the shares on the basis of one post-consolidated common share for every 10 pre-consolidated shares.
The firm has also completed a non-brokered private placement of subscription receipts for C$500,000 gross at a post consolidation price of 10 cents per receipt.
Upon issuance of the final CSE bulletin, each receipt will automatically be converted into one post consolidation common share of the company.
Upon completion, Khot will also settle $628,304.68 in debt by issuing over 6.2mln post consolidation shares at US$0.10 each.