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Red Rock Capital eyeing transactions in blockchain space

Red Rock Capital Corp.'s board plans to focus on transactions in the blockchain space, potentially including the cryptocurrency, artificial intelligence, gaming, cannabis and financial sectors.

The company is reviewing potential qualifying transactions and has entered into a letter of intent with Coinbit Blockchain Solutions Inc., a financial and cryptocurrency publisher and boutique advertising agency that operates several financial content websites. Coinbit has also developed an ad publisher platform that will allow third-party publishers to earn revenue by placing financial and cryptocurrency widgets on their websites.

The letter does not set the terms of a potential transaction nor have such terms been negotiated or finalized.