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BLOK Technologies Announces Closing of Non-Brokered Private Placement

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VANCOUVER, British Columbia, July 19, 2019 (GLOBE NEWSWIRE) — BLOK Technologies Inc. (“BLOK Tech” or the “Company”) (CSE: BLK) (FRANKFURT: 2AD) is pleased to announce that it has closed a Non-Brokered Private Placement (the “Private Placement”) raising gross proceeds of $500,000 from the issuance and sale of 25,000,000 common shares (“Common Shares”)  at a price of $0.02 per Share. No new insiders were created as a result of this Private Placement.

The Private Placement was previously announced on June 26, 2019.

These Common Shares issued under the Private Placement will be subject to a four month and one day resale restriction. Completion of the financing is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Canadian Securities Exchange (the “CSE”).

The Company intends to use the net proceeds of the Private Placement for evaluating new opportunities as part of its business model and for working capital purposes.

About BLOK Technologies Inc.

BLOK Technologies Inc. is a public company that invests in and develops emerging companies in the blockchain technology sector. The Company’s approach is to provide capital, technology and management expertise to the companies it develops. With core technology being developed for the leading cannabis supply chain integrity network, BLOK Tech continues to grow its business into adjacent industries and emerging technologies. The Company systematically identifies early-stage technologies with potential to disrupt and innovate within their industry and invests the necessary resources to ensure the success of their projects.

For additional information regarding BLOK Technologies and other corporate information, please visit the Company’s website at BLOKTECHINC.COM

ON BEHALF OF THE BOARD OF DIRECTORS

“James Hyland”
Interim President & CEO, Director

For further information, please contact:
James Hyland, B.Comm.
Interim President & CEO, Director
jamie@bloktechinc.com

Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company’s control.

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Blockchain

AMD and Industry Partners to Develop New Blockchain-based Gaming Platforms

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AMD joins Blockchain Game Alliance, and partners with Robot Cache and ULTRA to promote the development and proliferation of blockchain-based PC gaming

SANTA CLARA, Calif., Dec. 13, 2019 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD) today announced that it has joined the Blockchain Game Alliance (BGA) and forged partnerships with leading technology providers to help promote the development and proliferation of new blockchain-powered gaming platforms.

The Blockchain Game Alliance is committed to driving awareness and adoption of blockchain technologies within the game industry, providing an open forum for individuals and companies to share knowledge and collaborate, create common standards, establish best practices, and network. As the first major hardware manufacturer to join the BGA, AMD plans to enable alliance members with efficient and high-performance computing technologies for next-generation blockchain-based gaming platforms that could potentially transform the way games are created, published, purchased and played.

AMD also announced partnerships with leading blockchain technology providers, Robot Cache, which launched their online gaming marketplace in June, and ULTRA, which plans to launch its online gaming marketplace in the coming months. Designed to provide optimal cryptographic compute performance with AMD Ryzen™ processors and AMD Radeon™ graphics cards, these marketplaces will provide gamers with new opportunities to buy, sell and share digital video games, as well as offer efficient, new distribution channels for publishers. In addition, Robot Cache will use secure, high-performance AMD EPYC™ processors in the back-end servers powering its platform, and ULTRA will use AMD EPYC™ processors for its blockchain to facilitate block producing.

“Blockchain technology brings broader choice, security and flexibility to both gamers and publishers,” said Joerg Roskowetz, Head of Blockchain Technology, AMD. “Next-generation blockchain game platforms will give gamers access to exclusive online content, and provide new ways for them to truly own it. They will also provide game publishers with new channels to distribute digital game content.”

“The Blockchain Game Alliance is gathering some of the world’s top blockchain innovators and content developers to bring players the best of what this technology has to offer,” said Nicolas Pouard, Blockchain Initiative Director at Ubisoft. “We’re delighted to work with AMD, and other alliance members to determine the role of blockchain in the entertainment experiences of the future.” 

Leading the Blockchain Gaming Charge

Providing incredible compute performance and security for peer-to-peer transactions, AMD is helping to enable the next generation of blockchain-based gaming platforms via:

  • Blockchain Innovation – AMD is at the forefront of the blockchain evolution, providing the underlying compute technology to enable a broad range of new blockchain-powered applications, services and use cases spanning industries ranging from gaming and cloud computing to the Internet of Things, healthcare, and others.
  • Efficient, High-performance CPUs and GPUs – AMD is in a unique position to offer the best combination of high-performance CPUs and GPUs for demanding blockchain workloads.
  • Robust Security – Designed to address today’s increasingly complex and sophisticated security threats, AMD Secure Technology puts protection right on the processor providing an additional layer of robust security.

Supporting Resources

  • Find more information on the Blockchain Game Alliance here
  • Follow AMD on Twitter @AMD 
  • Follow Radeon™ graphics on Twitter
  • Follow Ryzen™ on Twitter

About AMD

For 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies ― the building blocks for gaming, immersive platforms and the datacenter. Hundreds of millions of consumers, leading Fortune 500 businesses and cutting-edge scientific research facilities around the world rely on AMD technology daily to improve how they live, work and play. AMD employees around the world are focused on building great products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) websiteblogFacebook and Twitter pages.

Cautionary Statement

This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) including the plans and expected benefits of joining the Blockchain Game Alliance and partnering with blockchain technology providers, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as “would,” “intends,” “believes,” “expects,” “may,” “will,” “should,” “seeks,” “intends,” “plans,” “pro forma,” “estimates,” “anticipates,” or the negative of these words and phrases, other variations of these words and phrases or comparable terminology. Investors are cautioned that the forward-looking statements in this document are based on current beliefs, assumptions and expectations, speak only as of the date of this document and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD’s control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: Intel Corporation’s dominance of the microprocessor market and its aggressive business practices may limit AMD’s ability to compete effectively; AMD relies on third parties to manufacture its products, and if they are unable to do so on a timely basis in sufficient quantities and using competitive technologies, AMD’s business could be materially adversely affected; failure to achieve expected manufacturing yields for AMD’s products could negatively impact its financial results; AMD has a wafer supply agreement with GLOBALFOUNDRIES Inc. (GF) with obligations to purchase all of its microprocessor and APU product requirements, and a certain portion of its GPU product requirements, manufactured at process nodes larger than 7 nanometer from GF with limited exceptions. If GF is not able to satisfy AMD’s manufacturing requirements, AMD’s business could be adversely impacted; the success of AMD’s business is dependent upon its ability to introduce products on a timely basis with features and performance levels that provide value to its customers while supporting and coinciding with significant industry transitions; if AMD cannot generate sufficient revenue and operating cash flow or obtain external financing, it may face a cash shortfall and be unable to make all of its planned investments in research and development or other strategic investments; the loss of a significant customer may have a material adverse effect on AMD; AMD’s receipt of revenue from its semi-custom SoC products is dependent upon its technology being designed into third-party products and the success of those products; global economic and market uncertainty may adversely impact AMD’s business and operating results; AMD’s worldwide operations are subject to political, legal and economic risks and natural disasters, which could have a material adverse effect on it; government actions and regulations such as export administration regulations, tariffs, and trade protection measures, may limit AMD’s ability to export AMD’s products to certain customers; AMD’s products may be subject to security vulnerabilities that could have a material adverse effect on AMD; IT outages, data loss, data breaches and cyber-attacks could compromise AMD’s intellectual property or other sensitive information, be costly to remediate and cause significant damage to its business, reputation and operations; AMD’s operating results are subject to quarterly and seasonal sales patterns; AMD may not be able to generate sufficient cash to service its debt obligations or meet its working capital requirements; AMD has a large amount of indebtedness which could adversely affect its financial position and prevent it from implementing its strategy or fulfilling its contractual obligations; the agreements governing AMD’s notes and the Secured Revolving Line of Credit impose restrictions on AMD that may adversely affect AMD’s ability to operate its business; the markets in which AMD’s products are sold are highly competitive; the conversion of the 2.125% Convertible Senior Notes due 2026 may dilute the ownership interest of AMD’s existing stockholders, or may otherwise depress the price of its common stock; uncertainties involving the ordering and shipment of AMD’s products could materially adversely affect it; the demand for AMD’s products depends in part on the market conditions in the industries into which they are sold. Fluctuations in demand for AMD’s products or a market decline in any of these industries could have a material adverse effect on its results of operations; AMD’s ability to design and introduce new products in a timely manner is dependent upon third-party intellectual property; AMD depends on third-party companies for the design, manufacture and supply of motherboards, software and other computer platform components to support its business; if AMD loses Microsoft Corporation’s support for its products or other software vendors do not design and develop software to run on AMD’s products, its ability to sell its products could be materially adversely affected; and AMD’s reliance on third-party distributors and add-in-board partners subjects it to certain risks. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s Quarterly Report on Form 10-Q for the quarter ended September 28, 2019.

©2019 Advanced Micro Devices, Inc. All rights reserved. AMD, the AMD Arrow logo, Radeon, and combinations thereof are trademarks of Advanced Micro Devices, Inc. Other product names used in this publication are for identification purposes only and may be trademarks of their respective companies.

Contacts:
George Millington
AMD Communications
+1 408-547-7481
George.Millington@amd.com

Jason Schmidt
AMD Investor Relations
+1 408-749-6688
Jason.Schmidt@amd.com

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Blockchain

European Online Payment Fraud & Security Report, 2019 – Online Payment Fraud Rises in Europe and Worldwide

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Dublin, Dec. 13, 2019 (GLOBE NEWSWIRE) — The “Europe Online Payment Fraud and Security 2019” report has been added to ResearchAndMarkets.com’s offering.

Online Payment Fraud Rises in Europe and Worldwide

The volume of online payment fraud loss is on the rise worldwide, projected to more than double by 2023, compared to 2018. In Europe, online retailers in the two largest E-Commerce markets, the UK and Germany, report detection of an increasing number of fraud attempts. In the UK alone more than one-half of card purchase fraud loss stemmed from E-Commerce as of last year. Consequently, digital buyers remain on their guard and, according to surveys cited in this report, many would not purchase from an online store which they believe does not provide a sufficient level of payment security.

Payment Security Regulations to Transform E-Commerce Payments in Europe

The Strong Customer Authentication (SCA) requirements, to apply from September 2019 on, are expected to strengthen the safety of online purchase transactions. At the same time, the spotty level of readiness and awareness of these requirements among merchants and consumers could have a negative effect on the development of E-Commerce in Europe and lead to a considerable loss in economic activity at least in the first year after the regulations take effect.

Questions Answered in this Report

  • What are the top online payment fraud prevention trends in Europe and worldwide?
  • How are the Strong Customer Authentication requirements projected to affect the development of European digital payments?
  • How large are the online payment fraud losses in Europe’s largest E-Commerce market?
  • What measures are taken by online merchants in selected European markets to prevent payment fraud?
  • How important is the consideration of online payment security to digital buyers in Europe?

Companies Mentioned

  • Mastercard Inc.
  • Visa Inc.

Key Topics Covered

1. Management Summary

2. Global Developments

  • Overview of Online Payment Fraud Trends, May 2019
  • Online Payment Fraud Losses, in USD billion, 2018e & 2023f
  • Breakdown of Feelings Consumers Have Towards Card Transaction Declines in Online Shopping, in % of Online Shoppers, by Frequency of Online Shopping, July 2018
  • Breakdown of Most Important Factors in Consumers’ Online Experience, in % of Consumers, 2018
  • Share of Consumers Who Have More Confidence in a Business That Uses Physical Biometrics for Online Security, in %, 2018
  • Share of Respondents Who Would be Willing to Use Fingerprint or Other Biometric to Secure Their Payment Details, in %, 2018
  • Number of Remote Mobile Biometric Transactions, in billions, and Their Share of Total In-Store and Remote Transactions Authenticated via Mobile Biometrics, in %, 2018 & 2023f
  • Breakdown of The Perceived Level of Security of Blockchain Solutions Compared to Conventional IT Solutions, in % of Senior Executives, March 2019
  • Top 10 Blockchain Use Cases, in % of Senior Executives, 2018
  • Spending on Fraud Management Solutions, 2017 & 2023f

3. Europe

3.1. Regional

  • Overview of Strong Customer Authentication Requirements Under PSD2, April 2019
  • Overview of The Strong Customer Authentication Perceptions by Industry Participants, June 2019
  • E-Commerce Merchants’ Readiness to Support Strong Customer Authentication, in %, November 2018
  • Levels of Awareness and Preparation of E-Commerce Merchants to Strong Customer Authentication Requirements, by SMEs and Large Businesses, June 2019
  • Share of Consumers Who Are Unaware of the Strong Customer Authentication Requirements for Online Purchases, in %, June 2019
  • Share of Consumers Who Prefer One-time Passcodes for Authentication, Compared to Fingerprint Recognition, in %, June 2019
  • Barriers to Buying Online, in % of Online Shoppers, July 2018
  • Attitudes to Security of Online Shopping, incl. Payment-Related, in % of Online Shoppers, by Austria, Germany and the UK, April 2018

3.2. UK

  • E-Commerce Fraud Loss on UK-Issued Cards, in GBP million, and Share of Total Card Purchase Fraud Loss, in %, 2013 – 2018
  • Top 10 Reasons for Shopping Cart Abandonment, in % of Online Shoppers, 2018e
  • Breakdown of Consumers’ Perception of Whether They Currently Undergo Enough Security Checks When Making an Online Payment, in % of Consumers, 2018
  • Breakdown of the Preferred Way of Receiving a One-time Passcode to Verify a Payment Transaction, in % of Consumers, 2018
  • Share of Cross-Border E-Commerce Orders Rejected by UK Merchants Due to Suspected Fraud, in % of UK Merchants, 2018

3.3. Germany

  • Share of E-Commerce Merchants Who Faced Fraud or Fraud Attempts in Their Online Shops, in %, 2018
  • Perceived Development of Fraud and Fraud Attempts Over the Past Year, in % of E-Commerce Merchants, 2018
  • Types of Fraud and Fraud Attempts Faced by E-Commerce Merchants in Their Online Stores, in % of E-Commerce Merchants, 2018
  • Measures Taken by E-Commerce Merchants to Prevent Fraud in Their Online Stores, in % of E-Commerce Merchants, 2018
  • Breakdown of Usage of 3D Secure for Credit Card Payments, in % of E-Commerce Sellers, 2017 – 2019
  • Breakdown of the Perceived Change in Shopping Cart Abandonment Rates After Choosing Credit Card Payment as a Result of 3D Secure, in % of E-Commerce Sellers Using 3D Secure, 2019
  • Breakdown of Importance of Payment Topics in Merchants’ Payment Strategy Until 2020, in % of E-Commerce Merchants, 2018
  • Breakdown of Attitude to Paying by Invoice, in % of Online Shoppers, April 2018
  • Most Trusted Mobile Payment Providers, in % of Consumers, August 2018

3.4. France

  • Top 5 Services and Obligations of E-Commerce Merchants in 2019 According to Online Shoppers, in % of Online Shoppers, December 2018
  • Preferred Biometric Authentication Methods in E-Commerce, in % of Online Shoppers, 2019
  • Breakdown of Main Barriers That Make Consumers Hesitant to Purchase Online, in %, by Total Population and Online Shoppers, June 2018
  • Share of 3D Secure Payments, in % of Online Card Payments, April 2011 – April 2018
  • Breakdown of Attitudes Towards Mobile Payments, in % of Internet Users, February 2018

3.5. Spain

  • Breakdown of Factors Most Important in Online Payment Methods, in % of Online Shoppers, October 2018

3.6. Italy

  • Fraudulent Transactions’ Share of E-Commerce Sales, in %, 2017

3.7. Austria

  • Share of Online Shoppers Who Fell Victim to Internet Fraud, in %, and Type of Fraud Experienced, in %, November 2018
  • Factors Taken into Account by Online Shoppers in Order to Avoid Fraud, in % of Online Shoppers, November 2018
  • Share of Online Shoppers Who Experienced Internet Fraud, in %, and Type of Fraud Experienced, in %, December 2018

3.8. Switzerland

  • Share of E-Commerce Merchants Who Faced Fraud or Fraud Attempts in Their Online Shops, in %, 2018
  • Perceived Development of Fraud and Fraud Attempts Over the Past Year, in % of E-Commerce Merchants, 2018
  • Types of Fraud and Fraud Attempts Faced by E-Commerce Merchants in Their Online Stores, in % of E-Commerce Merchants, 2018
  • Measures Taken by E-Commerce Merchants to Prevent Fraud in Their Online Stores, in % of E-Commerce Merchants, 2018

For more information about this report visit https://www.researchandmarkets.com/r/4d3ard

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
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Blockchain

Fortress Technologies Inc. Announces Third Quarter 2019 Financial Results

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VANCOUVER, British Columbia, Nov. 26, 2019 (GLOBE NEWSWIRE) — Fortress Technologies Inc. (“Fortress” or the “Company”) (TSXV: FORT), a well-capitalized company currently evaluating emerging opportunities in technology sectors, reports its results of operations for the third quarter and nine month period ended September 30, 2019 (“Q3 2019”). For the full condensed consolidated interim financial statements and management discussion & analysis for the nine month period ended September 30, 2019, please visit the Company’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com. 

Third Quarter Financial Highlights
(All amounts are in Canadian dollars unless otherwise specified)

  • The Company reported total revenue from the Sublease Amendment with WeHash for the three months ended September 30, 2019 of $616,341 ($439,836 for the three months period ended June 30, 2019; 262,980 for the three months period ended March 31, 2019), and a total of $1,319,157 for the nine months ended September 30, 2019.
     
  • For the three months ended September 30, 2019, WeHash Technology LLP (“WeHash”), on behalf of Fortress, has mined 44.50 Bitcoin as compared to 31.43 Bitcoin over 45 days (from the May 17, 2019 Sublease Amendment commencement until June 30, 2019).
     
  • Production cost of US$4,050 per Bitcoin mined (based on quantity of Bitcoin produced divided by incurred “Monthly Cash Operating Expenses”, which include lease, electrical cost, internet, insurance, staff and costs directly relating to operating the facility), which is one of the lowest per Bitcoin costs of production among digital currency mining companies listed on the TSX Venture Exchange (“TSX-V”).
     
  • The average Bitcoin price for the Q3 mining period is US$10,364. The average Bitcoin mined per day during Q3 2019 was 0.48 Bitcoin.
     
  • WeHash mined, stored and sold the coins for the Company. The total cost of mining, storing, and selling Bitcoin to the Company was $4,558 per Bitcoin including the Consulting Fee paid to WeHash for custody and sale of the coins.
     
  • Fortress had gross mining margin of $374,500 during the quarter.  The Company defines gross mining margin (a non-IFRS measure) as the revenue generated from mining activities less operating costs.  Operating costs include Monthly Cash Operating Expenses, as well as incidental or accrued expenses.  Depreciation, being a non-cash cost, is not deducted to arrive at the gross mining margin. Gross mining margin is a non-standard measure of mining efficiency and should not be considered as a substitute for other IFRS operating and profitability measures of performance. The table below reconciles gross mining margin for the respective periods to gross margin in the income statement.
Calculation of gross mining margin Q3 2019 ($) Q2 2019 ($) Q1 2019 ($) Q4 2018 ($) Q3 2018 ($) Q2 2018 ($) Q1 2018 ($)
Revenue 616,341   372,743   262,980   439,028   617,034   986,253   264,348  
Less: Operating costs 241,841   130,431   199,441   258,652   232,760   245,381   61,169  
Gross mining margin 374,500   242,312   63,539   180,376   384,274   740,872   203,179  
Gross mining margin (%) 61%   65%   24%   41%   62%   75%   77%  
Less: Depreciation 92,784   93,990   57,390   1,743,741   284,893   281,520   93,981  
Less: B&O taxes 19,078   16,278            
Less: WeHash Consulting fees 29,794   21,717            
Net mining margin 232,844   110,327   6,149   (1,563,365 ) 99,381   459,352   109,198  
Sublease revenue (April/May flat fee)   67,093            
Total Sublease margin (%)   40%            
Gross margin per Income Statement 266,769   138,618   966   (1,563,365 ) 99,381   459,352   109,198  
Gross margin (%) 43%   31%   (0%)   (356%)   16%   47%   41%  
  • Fortress had a net loss of $286,593 during the quarter. The largest expenses were non-cash costs for share based compensation $36,388 and depreciation of $93,312 and foreign exchange of $473,827. The Company was well capitalized at the end of the quarter with cash balances of $10,682,789. Total assets were $11,588,260, primarily comprised of property and equipment at the Flagship Facility and cash balances.
     
  • The Company has been EBITDA positive for the past 5 months with $36,403 in May, $52,520 June 2019, $88,546 for July, $62,211 for August, and $54,394 for September 2019.

Cash Position

As a result of the positive EBITDA from May through September 2019, with continued strength October and November to date, the Company maintains a strong cash position as of November 26, 2019 with over $10,750,000 in cash and GICs.

“The Company has been actively evaluating technology projects that we believe could provide an accretive path forward for shareholders. We have continued to be a low-cost operator earning positive EBITDA in Q3, and we are glad to see this is reflected in the growth of our treasury,” said Aydin Kilic, CEO.

About Fortress Technologies

Fortress Technologies Inc. (TSX-V: FORT) is a well-capitalized company currently evaluating emerging opportunities in technology sectors. Fortress is focused on developing projects where access to growth capital is highly valued.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this press release.

Non-IFRS Measures:

This news release contains non-IFRS financial measures; the Company believes that these measures provide investors with useful supplemental information about the financial performance of its business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating its business. Although management believes these financial measures are important in evaluating the Company’s performance, they are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS. These non-IFRS financial measures do not have any standardized meaning and may not be comparable with similar measures used by other companies. For certain non-IFRS financial measures, there are no directly comparable amounts under IFRS. These non-IFRS financial measures should not be viewed as alternatives to measures of financial performance determined in accordance with IFRS. Moreover, presentation of certain of these measures is provided for year-over-year comparison purposes, and investors should be cautioned that the effect of the adjustments thereto provided herein have an actual effect on the Company’s operating results.

Forward Looking Statements:
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company, are forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions, plans and future actions of the Company, as well as the Company’s ability to successfully mine digital currency, revenue increasing as currently anticipated, volatility in digital currency prices and the resulting significant negative impact on the Company’s operations, the construction and operation of expanded blockchain infrastructure, and the regulatory environment of cryptocurrency in the United States and other jurisdictions where the Company may operate.

Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.

This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others:  the status and impact of new electrical power rates and the status of deliberations by the Grant County Public Utility District; risks relating to the global economic climate; dilution; the Company’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and, volatile securities markets impacting security pricing unrelated to operating performance.  In addition, particular factors which could impact future results of the business of the Company include but are not limited to: the impact of new electrical power rates which could impair profitability and operating performance; deliberations by the Grant County Public Utility District which could limit the ability of the Company to carry on business on a profitable basis or at all; the construction and operation of blockchain infrastructure may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the Grant Count of the State of Washington, the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company’s normal course of business.  Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.

CONTACT: For further information, please contact: Aydin Kilic
Chief Executive Officer
604 477 9997
a@fortressblockchain.io
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