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Riot Blockchain to Acquire Majority Interest in TESS, a Blockchain Development Company

CASTLE ROCK, Colo.Oct. 17, 2017 /PRNewswire/ — Riot Blockchain Inc. (Nasdaq: BIOP) (the “Company”) today announced it has entered into a definitive purchase agreement to acquire a 52% ownership interest in Tess Inc. (“TESS”).  TESS, based in Toronto, Ontario, has a team of seven engaged in developing a blockchain-based payment service for wholesale telecom carriers. The purchase reflects Riot Blockchain’s efforts to own or control companies who are contributing to the development of the blockchain ecosystem. The transaction is anticipated to close on or before October 19, 2017.