Newnote Financial (CSE:NEU, Stock Forum), a Vancouver-based crypto currency product provider, is firmly establishing its footprint in the Bitcoin sector with today's announcement that the company would be installing a Bitcoin ATM at the British Columbia Institute of Technology (BCIT).
According to the news release, the ATM will be placed within the SE2 building at BCIT's Burnaby campus with the installation expected to be finished within the next ten days.
The project was a collaboration between the company and the BCIT Student Association (BCITSA) with BCITSA receiving a one percent revenue share of the transaction fees while Newnote will take home a two percent share of the transaction fees.
Even though the BCITSA is in full support of the ATM's presence, student response to the installation has yet to be gauged.
Company president and CEO, Paul Dickson, commented, “We are very excited and fortunate to have made this arrangement with the BCITSA. We feel this is an excellent location for a Bitcoin ATM and look forward to working with BCITSA.”
Tyler Bermudez, BCITSA VP of External Affairs, added, “It is very exciting to see the advancements BCITSA is able to provide our student population.”
Then he concluded, “Having a BITCOIN machine is one of the many ways we are able to provide students with up-to-date industry and business trends.”
Newnote Financial was in the news recently when the company announced an option grant and shares for debt private placement two weeks ago.
Currently there are 19.8m outstanding shares with a market cap of $7.1 million.
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