Blockchain Acquisition Sends Sub Penny Stock Soaring Over 60%

By: Dylan Sikes – AllPennyStocks.com News

Tuesday, December 10, 2024

On a seemingly quiet day on the markets, the rip-roaring rally of late appears to be taking a much-needed pause. However, we keep digging during all market conditions, and know that there’s always something to uncover. Today is no exception. We found a sub penny blockchain company ripping higher on the acquisition of an industry peer.

Shares of Blaqclouds, Inc. (OTCPK: BCDS) are on the move higher as the company announced the acquisition of ZEUS Blockchain Partners, Inc. from DMS Technology, Inc. According to the company, this strategic acquisition solidified Blaqclouds’ position as a leader in blockchain innovation while significantly expanding its footprint in the rapidly evolving decentralized technology sector.

Under the terms of the agreement, Blaqclouds, Inc. acquired 100% of the issued and outstanding shares of ZEUS, representing 100,000,000 shares of ZEUS Common Stock. As consideration, Blaqclouds issued a one-year convertible promissory note valued at $750,000 with an annual interest rate of 6% and a conversion price of $0.00825.

The transaction successfully closed on December 8, 2024, following the satisfaction of all customary closing conditions. Effective immediately, ZEUS will be fully integrated into the Blaqclouds ecosystem, enabling a unified approach to blockchain solutions, fostering technological innovation, and strengthening Blaqclouds’ presence in the decentralized finance (DeFi) space.

Comenting on the acquisition, “We are thrilled to welcome ZEUS Blockchain Partners into the Blaqclouds family,” said Marjorie Schaefer, CEO of Blaqclouds, Inc. “This acquisition represents a significant milestone in our journey to become a global leader in blockchain technology. ZEUS’s robust platform and innovative approach align perfectly with our mission to drive growth and excellence.”

A spokesperson from ZEUS Blockchain Partners added: “Joining Blaqclouds marks an exciting new chapter for ZEUS. Together, we will unlock new opportunities, accelerate blockchain adoption, and deliver unparalleled value to our customers and partners.”

As mentioned off the top, shareholders are also happy about the acquisition sending shares of BCDS up 63% to $0.0075 in early-morning trading.

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