2022-07-19 | TSXV: DMGI | Press release
DMG also announces a new director, chair of the audit committee
VANCOUVER, British Columbia, July 18, 2022 (GLOBE NEWSWIRE) – DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG” or “CompanlyDoubleeQuoteClose”), vertically integrated blockchain and cryptocurrency technology companies, announces that it is collaborating with several parties to develop funds specific to Terra Pool (www.terrapool.io) to manage bitcoin made exclusively from carbon-neutral extracted bitcoin.
DMG recently announced Terra Pool’s opening for general Bitcoin mining operations. DMG is now taking the next step to create a natural market mechanism where interested parties, looking for carbon-neutral extracted bitcoin, can work with Terra Pool and its member miners to extract bitcoin extracted from carbon-neutral energy. By actively helping to create a marketplace for Terra Pool’s mined bitcoin, DMG helps its pool users get in touch with institutional buyers looking for a supply of carbon-neutral mined bitcoin without the need to search for each individual miner. the need to revise the energy sources that were used to create their bitcoin.
“We are excited about the opportunity to match ESG – minded institutions directly with Terra Pool and the members who create bitcoin extracted using exclusively carbon neutral energy. We believe this is the most effective way to catalyze the market for investors with ESG mandates to embrace the largest and most liquid cryptocurrency – bitcoin, ”said CEO Sheldon Bennett.
“As renewable energy turns out to be the lowest source of energy, especially given geopolitical uncertainty, we expect an increasing amount of bitcoin to be extracted in the future based on renewable energy. By bringing together key partners – Terra Pool, ESG-compatible bitcoin miners and financial institutions – DMG and its partners will be able to acquire and enable bitcoin trading with the same high standards as any other financial asset class, ”added COO Steven Eliscu.
Change of board members
DMG also announces that the independent director, Justin Rasekh, has resigned as of 15 July. Mr. Rasekh has been a member of DMG’s board for five years and has entered a new consulting role for DMG where he will be responsible for partnerships and international activities. development. Mr. Rasekh will be succeeded by Kelly Allin, who has served as DMG’s Special Adviser to the Audit Committee.
Mr. Allin has also been appointed to the Audit Committee as its chair. Mr. Allin has 30 years of professional experience, where he has worked in many roles, including CFO, CFO and audit partner. In addition, as an experienced auditing partner, Mr. Allin is well positioned to improve interaction with the company and CloseCurlyQuote ;s auditors and guide it through any reporting challenges. As DMG continues its corporate development, Mr. Allin’s experience will be supportive of developing high standards of governance and transparency for DMG’s shareholders.
“We are pleased to welcome someone to the board with the deep experience of Mr. Kelly Allin. His expertise in public company reporting and revelations from his many years as an auditing partner in a Big Four accounting firm will support and guide us. Mr. Allin’s deep experience with world-class mainstream operations, regulatory conditions and control environments is expected to benefit DMG, as we navigate the rapidly evolving cryptocurrency industry and strive to be best in class with the high standards and expectations of being a public company, “Said CEO Sheldon Bennett.
“I’m delighted to be on the DMG board and working with Sheldon, Steve and Adrian. I’ve been particularly impressed with the depth of their knowledge of the industry. With an ongoing industry – wide dialogue on regulation, and bitcoin becoming mainstream , it’s an ideal time to combine my background in public company reporting and regulatory issues with an exciting growing company, ”added Mr. Allin.
About DMG Blockchain Solutions Inc.
DMG is an environmentally friendly vertically integrated blockchain and cryptocurrency company that manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s sustainable businesses are segmented into two business lines under the Core and Core + strategies and are united through DMG’s vertical integration.
Future changes in the Bitcoin network’s mining difficulty level or Bitcoin hashrate may significantly affect the future performance of DMG’s production of Bitcoin, and future operating results may also be significantly affected by the price of Bitcoin and an increase in hashrate recovery problems.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
follow @dmgblockchain on Twitter and subscribe to DMG’s YouTube channel.
On behalf of the board,
Sheldon Bennett, CEO and CEO
For further information, please contact:
DMG Blockchain Solutions Inc.
Email: [email protected]
Internet: www.dmgblockchain.com
Investor Relations Contact:
CORE IR (516) 222-2560
For media inquiries:
Jules Abraham, Head of Communications
CORE IR
(917) 885-7378
Neither the TSX Venture Exchange nor its regulatory service provider (as this term is defined in the TSX Venture Exchange Guidelines) accepts responsibility for the adequacy or accuracy of this news release.
Warning regarding future-oriented information
This press release contains forward-looking information or statements based on current expectations. Future-oriented statements in this press release include statements about the potential, expectations and plans of Terra Pool, strategy to make money on and work with ESG-related funds at Terra Pool, other strategies and plans, development and implementation of the company’s products and services, launch of products and services, events, courses of action and the potential of the company’s technology and operations, among other things, are all future-oriented information.
Future-oriented statements consist of statements that are not purely historical, including statements about beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified using forward-looking wording such as “may”, “expect”, “estimate”, “predict”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is warned that assumptions used in the preparation of future-oriented information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated, as a result of a number of known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, including, but not limited to, the market and other factors. conditions, volatility in the trading price of the company’s common shares, 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 when other better-funded competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and demand and pricing of products and services; the demand and pricing of bitcoins; security threats, including loss / theft of DMGs bitcoins; DMG’s relationships with its customers, distributors and business partners; 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 meets customer needs; the ability to attract, retain and motivate qualified personnel; industry competition; the impact of technological change on products and industry; inability to develop new and innovative products; the ability to uphold and enforce our intellectual property rights and defend third party claims for infringement of their intellectual property rights; the impact of intellectual property litigation that may materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. It is not certain that DMG will actually achieve its plans, estimates or expectations. Such statements and information are based on a number of assumptions regarding current and future business strategies and the environment the company will operate in the future, including the demand for its products and services, the ability to develop software successfully, that there will be no regulation. or law that will prevent the company from running its business, expected costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not rely on these forward-looking statements. DMG’s securities are considered highly speculative due to DMG’s activities. For further information on these and other risks and uncertainties, see the company’s registrations at www.SEDAR.com. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.
Factors that can cause actual results to deviate significantly from those in future-oriented statements include lack of regulatory approval, continued available capital and financing, equipment failure, lack of supply of equipment, power and infrastructure, adverse weather and climate events. , failure to obtain permits to operate the business, the impact of technological changes on industry, the impact of COVID-19 or other viruses and diseases on the company’s ability to operate, secure equipment and hire personnel, competition, security threats including stolen bitcoins from DMG or its customers, consumers’ feelings towards DMG’s products, services and blockchain technology in general, lack of development of new and innovative products, lawsuits, increase in operating costs, increase in equipment and labor costs, decline in the price of Bitcoin, failure of counterparties to meet their contractual obligations, public regulations, loss of key companies and consultants, and general financial, market or business conditions. Future-oriented statements in this press release are expressly qualified by this cautionary statement. The reader is warned not to rely on forward-looking information. The forward-looking statements in this press release are made from the date of this press 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. In addition, the company undertakes no obligation to comment on the expectations or statements of third parties in relation to the cases discussed above.
