Coronado Completes Skyrun Technology Corp. Acquisition and TSX Venture Exchange Listing

VANCOUVER, May 28, 2019 /CNW/ – Coronado Resources Ltd. announced today that the TSX Venture Exchange (“TSX-V”) has approved Coronado’s change of business as well as the acquisition of Vancouver-based Skyrun Technology Corp. and the intellectual property relating to the virtual currency platform,

Corporate Name Change

To reflect the transformation into the technology sector, Coronado has changed its name to Interlapse Technologies Corp. The board of directors of the Company are now John Vaccaro, David Loretto, Wayne Chen, Ashley Garnot and Giuseppe (Pino) Perone.

TSX Venture Exchange Listing

The shares of Interlapse Technologies Corp. are expected to begin trading on the TSX-V on May 30, 2019. Trading Symbol:INLA.

Non-Brokered Private Placement

Coronado has completed a non-brokered private placement of 2,210,000 common shares at $0.50 per share for gross proceeds of $1,105,000. The common shares issued under this private placement are subject to resale restrictions for a period of four months from the closing date. The proceeds of this funding will be used to further advance the development of and planned international expansion.

Capital Structure

After completion of the aforementioned private placement, the Company will have 8,672,822 shares issued and outstanding.

Executive Team

Interlapse welcomes incoming executives Wayne Chen, Chief Executive Officer, and Rod Hsu, Chief Operating Officer. They are the founders of Skyrun Technology Corp. and have extensive experience in operating technology, specialized payments and virtual currency platforms. The executive team of the Company is as follows:

  • Wayne Chen – Chief Executive Officer
  • Rod Hsu – Chief Operating Officer
  • Giuseppe (Pino) Perone – President
  • Barry MacNeil – Chief Financial Officer
  • Ashley Garnot – Corporate Development
  • Stephanie Yoneda – Controller

For further information:

Ashley M. Garnot, Director
Phone: +1.604.682-6496
Contact:[email protected]  

Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. The transaction and the name change are subject to the final approval of the TSX-V. The TSX-V is in the process of reviewing the final materials submitted by the Company. 

Cautionary Note Regarding Forward-Looking Statements