Blockchain Loyalty Inc. acquired Peerless Developments Ltd. (OTCPK:PEDE) in a reverse merger transaction on February 21, 2018. According to the share exchange agreement, Peerless Development will issue a total of 250 million common shares for the acquisition of 100% of Blockchain Loyalty Inc. as well as its wholly owned subsidiary OnKard Ltd. Subsequently, Peerless Development will change its name to Blockchain Loyalty Inc. Blockchain Loyalty Inc. completed the acquisition of Peerless Developments Ltd. (OTCPK:PEDE) in a reverse merger transaction on February 21, 2018.