A blockchain-focused venture-capital fund headed by a Toronto-based expert is abandoning plans to go public amid reports alleging it made misleading statements in its marketing materials. NextBlock Global, whose chief executive is business author Alex Tapscott, said it is “no longer doing a go-public transaction” and is in the process of reaching out to investors to discuss next steps, including the return of their original investment. NextBlock describes itself on its website as early stage investor of companies involved in blockchain, with a focus on infrastructure to support the technology. NextBlock had aimed to go public via a reverse takeover of Nobelium Tech Corp., which is listed on the TSX Venture Exchange. The fund’s statement on Sunday follows reports that NextBlock Global’s investor presentation allegedly incorrectly named four people as its advisers.

Source: thestar November 06, 2017 19:34 UTC