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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 PR

DMG Files Amended and Restated Filings

GlobeNewswire

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Highlights:

  • Filing of amended financial statements and management’s discussion and analysis
  • Revocation of cease trade order (“CTO”) expected shortly

VANCOUVER, British Columbia, Aug. 19, 2019 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTC US: DMGGF) (FRANKFURT:6AX) (“DMG” or the “Company”), announces that as a result of a British Columbia Securities Commission review (the “BCSC”), the Company has amended and re-filed the following filings:

  (i)   its interim financial statements and management’s discussion and analysis (“MD&A”) for the period ended December 31, 2018;
  (ii)   its annual MD&A for the year ended September 30, 2018; and
  (iii)   its interim MD&A for period ended March 31, 2019,

to provide increased disclosures in the related filings. The material amendments included in the amended filings are described below:

  • Note 16 of the Company’s interim financial statements for the period ended December 31, 2018 disclosed the general and administrative office expense as a negative figure, which the Company noted resulted as an error due to oversight. As a result of the correction, general and administrative expenses increased by $860,474, foreign exchange loss increased by $447,493, and foreign exchange gain on translation of foreign subsidiary decreased by $7,982 in the condensed interim consolidated statement of profit and loss.
     
  • All amended MD&As were amended to reflect increased disclosure regarding the status of the Company’s data centre project, current expenditures to date and anticipated timing and closing costs.
     
  • All amended MD&As have been amended to reflect increased disclosure and discussion related to changes between the cost of utilities, bitcoin mining revenue and the Company’s prepaid balances.
     
  • The Company’s interim financial statements (Note 14) and MD&A for the period ended December 31, 2018 with respect to the sale of miners were corrected. The MD&A incorrectly stated that miners were sold during the period and that has been amended to remove this wording.
     
  • All amended MD&As were amended to reflect a more thorough discussion of the Datient Inc. transaction and the subsequent goodwill impairment.
     
  • The Commission is of the view that the Company should disclose the quantity of bitcoins in addition to the fair values presented in the financial statements. As a result, the Company has amended its MD&As to include the quantities of bitcoin in addition to fair values.
     
  • The Commission noted deficiencies in the Company’s disclosure of related party transactions. All amended MD&As were amended to specifically identify related persons or entities as described in any related party transaction.

As a result of the CTO, the TSX Venture Exchange (the “TSXV”) suspended trading in the Company’s securities. The Company expects the CTO to be revoked in due course. The Company has also applied to the TSXV for the reinstatement of trading of its common shares.

————————————————-
About DMG Blockchain Solutions Inc.
DMG Blockchain Solutions Inc. is a diversified blockchain and cryptocurrency company that manages, operates and develops end-to-end solutions to monetize the blockchain ecosystem. DMG, with its Blockseer division located in Silicon Valley, intends to be the global leader in industrial scale crypto mine hosting – Mining as a Service (MaaS), crypto mining, blockchain forensics/analytics, and blockchain platform development.

For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com

On behalf of the Board of Directors,
Daniel Reitzik, CEO & Director
For further information, please contact:

DMG Blockchain Solutions Inc.

Investor Relations: John Martin
Toll Free: 1-888-702-0258
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
Direct: 778-868-6470

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking information based on current expectations. Statements about the Company’s plans and intentions, other potential transactions, revocation of the CTO, reinstatement of trading of its common shares, acquisition of customers, product development, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG’s bitcoins; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.

The securities of DMG are considered highly speculative due to the nature of DMG’s business.

Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, competition, security threats including stolen bitcoins from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain technology generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release.  Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.  Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by third parties in respect of the matters discussed above.

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 news release.

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Blockchain PR

Capital Raise for RISE Wealth Technologies: FinTech RISE Wealth Technologies Announces Partnership with Entoro Capital for Security Token Offering

GlobeNewswire

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Munich, Germany, Aug. 19, 2019 (GLOBE NEWSWIRE) — (via Blockchain Wire) RISE Wealth Technologies GmbH, a software technology company and provider of solutions for the implementation of trading strategies based on AI and ML, is pleased to announce its immediate Broker-Dealer Collaboration Agreement with Entoro Capital.

As part of the collaboration, Entoro will lead the Capital Raise for the STO of RISE Wealth Technologies, who at present is financed with US $11 million. With a target issue volume of $120 million, the company plans to launch the largest European STO to date. The investment bank and advisory Group Entoro Capital has led many successful synergies and partnerships over the past years within the FinTech industry. RISE Wealth Technologies welcomes the new collaboration with Entoro Capital as well as the new opportunities and leadership this partnership will bring to the FinTech industry.

“We are excited to be partnering with Entoro who has proven to be an experienced partner for companies within the FinTech industry”, says Stefan Tittel, CEO of RISE Wealth Technologies. “Their strong cross-industrial network has for years been a valuable asset to many partnerships. With the Broker-Dealer Agreement for Capital Raise we anticipate a great deal of mutually beneficial opportunities and synergies for both companies – with most of these benefits accruing to our clients.”

“RISE is led by serial-entrepreneurs with a strong management team and a proven trackrecord, which was crucial to us”, said James C. Row, Managing Partner of Entoro Capital. “A strong confidence in the team is paired with a shared belief that the future in asset management will be technology-driven. This makes RISE a perfect fit for Entoro.”

About RISE Wealth Technologies

The FinTech Rise Wealth Technologies from Grünwald near Munich, Germany, is a scientifically focused software technology company and a provider of solutions for the development of commercial trade strategies based on Machine Learning (ML) and Artificial Intelligence (AI). The patent-pending AI Machine Learning platform will fundamentally change the way that funds, investors and asset managers make investments. The Rise methodology enables investors to continuously discover, validate and implement new trading opportunities in both highly liquid and illiquid financial markets across the globe. The RISE technology-based financial solutions have outperformed competitive products since 2016. The company’s next step is to scale into the $80 trillion global asset management market. At present, the company is financed with US$ 11 million and employs a workforce of around 20 experts in branches located in Munich, New York and Paris.

For more Information on RISE and the STO: www.risewealth.com or www.rise.eco

About Entoro Capital

Entoro Capital is an investment bank and advisory group for traditional and digital securities. Entoro uses its proprietary online private securities syndication platform OfferBoard® for accredited investors to analyze and review projects and opportunities. Entoro’s strength is in bringing highly vetted projects to investors globally, with maximum efficiency, end-to-end security, and seamless execution, delivering total confidence in each investment. Our investment platform combined with blockchain technology provides issuers and investors access, flexibility, and transparency throughout the investment process. Securities are offered through Entoro Securities, LLC, member FINRA/SIPC.

To learn more about Entoro Capital visit www.entoro.com

Contact:

Benedict Frauen
Senior Program Manager & Authorized Director
RISE WEALTH TECHNOLOGIES GmbH
+49 89 255 421 92

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Blockchain PR

New Virtusa Study Finds Digital Customer Experience, Innovation, and Cost Reduction are Top Priorities for Banks

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Independent study commissioned by Virtusa and produced by Finextra identifies the current Top Global Banking Technology Trends

SOUTHBOROUGH, Mass., Aug. 19, 2019 (GLOBE NEWSWIRE) — Virtusa Corporation (NASDAQ GS:VRTU), a global provider of digital strategy, digital engineering, and IT outsourcing services that accelerates business outcomes for its clients, today announced the findings from The Top Global Banking Technology Trends, a July 2019 research paper commissioned by Virtusa and conducted by Finextra. The paper highlights the key shifts in banks’ approach to their IT platforms over the last 18 months.

“This study with Finextra identifies the current trends in the banking industry and assesses the top focus areas for banks,” said Executive Vice President and Global Head of Transformation Services at Virtusa, Bob Graham. “The banking industry is undergoing a seismic shift that demands banks reinvent themselves. The study shows several trends accelerating over the past year including open banking, cloud, microservices, fintech partnerships, and the use of artificial intelligence and machine learning that are all driving banks to expand the frontiers of digital transformation.”

The research paper has inputs from over 100 banking executives, including C-level executives, vice presidents, and directors from global banks, regional banks, and fintechs from 25 countries across North America, Europe, and Asia Pacific.

According to the study, the market sentiment appears to be positive with budgets freeing up from regulatory compliance initiatives to spend on other programs such as innovation, measures to improve business efficiency, and new products and services. Further findings from the study include the following:

  • Digital customer experience (79%), innovation (45%), and cost reduction (46%) are the top three areas of expenditure
  • 87% of respondents said that their institution is evaluating or has already launched API-based services
  • 50% of respondents are building out a new, dedicated infrastructure for their mobile channels
  • 54% of respondents viewed blockchain for international payments as being of either the highest or a high priority; 44% was the similar figure for domestic payments
  • 86% of respondents have already adopted cloud, with a significant amount (38%) adopting hybrid solutions

The research paper also highlights that banks are now actively partnering with relatively small suppliers, seeking to use regulatory changes to drive new income streams and use new technologies like microservices, artificial intelligence, and blockchain to provide enhanced internal controls, security, and support new customer propositions.

According to the study, the use of APIs is not a new initiative, but regulations and compliance have driven their wider adoption. Banks are embracing their use to meet the expectations of their customers and match the competitive offerings of new entrants. Bank and fintech partnerships are emerging, and although there are challenges in working together, the survey results record 70% of respondents have at least one solution in production.

With over 25 years of industry experience, Virtusa has become the partner of choice for many leading banks and financial services firms. Virtusa supports clients to accelerate business transformation by leveraging digital technologies while driving operational excellence and cost efficiency within the organization. Virtusa supports leading global banking and financial services clients across North America, Europe, Asia Pacific, and Australia, including more than half of the top 30 global banks and many of the top national and regional institutions.

To access the full study, please visit: https://www.virtusa.com/lnd/top-global-banking-technology-trends/

To learn more about Virtusa’s Banking and Financial Services capabilities, visit: https://www.virtusa.com/industry/bfs/

To schedule a meeting at Sibos 2019, London; 23- 26 September 2019 and discuss the findings of the report, visit: www.virtusa.com/events/sibos2019/

About Virtusa Corporation

Virtusa Corporation (NASDAQ GS: VRTU) is a global provider of digital business strategy, digital engineering, and information technology (IT) services and solutions that help clients change, disrupt, and unlock new value through innovation engineering. Virtusa serves Global 2000 companies in Banking, Financial Services, Insurance, Healthcare, Communications, Media, Entertainment, Travel, Manufacturing, and Technology industries.
  
Virtusa helps clients grow their business with innovative products and services that create operational efficiency using digital labor, future-proof operational and IT platforms, and rationalization and modernization of IT applications infrastructure. This is achieved through a unique approach blending deep contextual expertise, empowered agile teams, and measurably better engineering to create holistic solutions that drive business forward at unparalleled velocity enabled by a culture of cooperative disruption.

© 2019 Virtusa Corporation.  All rights reserved.

Virtusa, Accelerating Business Outcomes, BPM Test Drive, and Productization are registered trademarks of Virtusa Corporation.  All other company and brand names may be trademarks or service marks of their respective holders.

Contact

Kavita Singh    
Virtusa 
kavitasingh@virtusa.com
91-7032334331

Ron Favali
Conversion Marketing
ron@conversionam.com
727-512-4490

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