360 Blockchain Inc. (CNSX:CODE) executed a non-binding letter of intent to acquire 60% stake in SV CryptoLab from three individuals for $1.8 million on November 2, 2017. Under the terms of the transaction, 360 Blockchain will pay $0.25 million in cash and will issue its 5 million shares from treasury as consideration. 360 Blockchain got an option to acquire the remaining 40% stake in SV CryptoLab. SV CryptoLab's founder and Chief Executive Officer, James Cerna will lead SV’s advancement, playing an integral role on 360 Blockchain's leadership team. The transaction is subject to receipt of stock exchange and regulatory approval. 360 Blockchain Inc. (CNSX:CODE) completed the acquisition of 60% stake in SV CryptoLab from three individuals on January 17, 2018.