trending Market Intelligence /marketintelligence/en/news-insights/trending/jH7WNdtQtaTmnSB3zvqEVg2 content esgSubNav
In This List

Canadian investment company seeks to acquire 49% stake in blockchain company

Video

S&P Capital IQ Pro | Powering Your Edge

Podcast

Street Talk Episode 81: Amid strong recovery, Banc of California hearing more M&A chatter

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

Blog

Banking Essentials Newsletter: September Edition


Canadian investment company seeks to acquire 49% stake in blockchain company

Canadian investment company Routemaster Capital Inc. has signed a letter of intent to invest about $1.4 million to acquire a 49% interest in Cary, N.C.-based blockchain and cryptocurrency company Pinedale Springs LLC.

Pinedale currently owns and operates a solar farm and cryptocurrency data center in Cary.

In acquiring the Pinedale stake, Routemaster Capital said it will have an investment in a company that has solar-cryptocurrency facilities, which are currently cash flow positive.

Pinedale's current management will continue to operate the facility, with Routemaster as an adviser. Pinedale's founders will remain actively involved in the business.

The transaction's completion is subject to satisfactory completion of due diligence by Routemaster, execution of a definitive agreement, and all required approvals and consents.