VANCOUVER, British Columbia, April 03, 2023 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a vertically integrated blockchain and cryptocurrency technology company, today announces upcoming events in April: DMG is sponsoring The Nolcha Shows: NFT.NYC Event in the Arts District in Brooklyn, NY on April 12 and DMG management will present at the Planet Microcap Showcase 2023 in Las Vegas on April 26.
DMG is sponsoring the upcoming The Nolcha Shows: NFT.NYC (contact DMG at [email protected] for access code) Event in the Arts District in Brooklyn, NY on April 12th. Nolcha Shows provides a platform for Web3 leaders and creatives to connect and collaborate through curated, immersive programming. CEO Sheldon Bennett and COO Steven Eliscu will meet at the event with both scheduled artist meetings and forward-looking discussions with artists and other interested participants to discuss how Terra Pool is the only carbon neutral pool that tailors valuable art collections effectively as non-fungible tokens (NFTs ) on the Bitcoin blockchain using the Petra and Ordinals protocol.
By using its Petra technology to route transactions through the Terra Pool, DMG ensures that no carbon is added to the creation of the inscription. CEO Sheldon Bennett commented: “It has consistently been the vision of DMG to monetize bitcoin transactions using Terra Pool and Petra. While our initial target market has been to serve financial institutions that want to aggregate valuable bitcoin transactions on-chain without adding carbon or mixing their transactions with bad actors, we are excited to expand our service offering into this fully complementary marketplace for artists and digital content creators in a way we never imagined.”
Galaxy Research estimates that the market size of Bitcoin NFTs built on inscriptions and ordinals could be $4.5 billion by 2025. DMG intends to monetize this market opportunity through a combination of inscription and subsequent ownership transfer services. DMG COO Steven Elescu added: “We believe we are at the forefront of monetizing this opportunity that leverages our already existing products. Our short-term goal is to be able to properly serve this market by providing an adequate offering of Bitcoin blockchain real estate in demand by a wide range of premium artists.”
Following the New York event, DMG will present at the Planet Microcap Showcase 2023 on April 26, 2023 at 9:00 PT in Las Vegas. CEO Sheldon Bennett and COO Steven Eliscu will also be available for 1×1 meetings on April 26.
Grant of stock options
DMG also announces that it has granted 1,072,050 share options (“Options”) to employees and board members of the company. The options are exercisable for a period of five years at a price of $0.32 per share and will vest at 25% on each of the six, 12, 18 and 24 month days prior to the grant date.
About Terra Pool
Terra Pool is a cryptocurrency mining platform operated by DMG’s Blockseer software company. Terra Pool is one of the world’s first Bitcoin mining pools with a focus on clean energy. The purpose of this initiative is to accelerate the transition from conventional power to clean energy and reduce the impact of Bitcoin mining on the environment. Terra Pool aggregates the computing power of individual miners and then divides the received rewards and transaction fees proportionally between them, so that miners are rewarded more consistently.
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 united through DMG’s vertical integration.
Future changes in the Bitcoin network’s mining difficulty or Bitcoin hash rate may materially affect the future performance of DMG’s production of Bitcoin, and future operating results may also be materially affected by the price of Bitcoin and an increase in hash rate mining problems.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
Follow @dmgblockchain on Twitter and subscribe to DMG’s YouTube channel.
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
CORE IR
917-885-7378
[email protected]
Neither the TSX Venture Exchange nor its regulatory 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.
Warning regarding forward-looking information
This press release contains forward-looking information or statements based on current expectations. Forward-looking statements in this press release include statements about upcoming conferences and events, the planned monetization of certain product and service offerings, the plans and objectives of Terra Pool, the development and execution of the company’s products, services and business plans, product and service launches, events, courses of action and the potential of the company’s technology and operations, among other things, are all forward-looking information.
Forward-looking statements consist of statements that are not purely historical, including statements of beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward-looking words such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is warned that assumptions used in the preparation of forward-looking information may turn out to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted 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 stock, 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; the demand and pricing of bitcoins; security threats, including loss/theft of DMG’s bitcoins; DMG’s relationship 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 meet customer needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technological changes on the products and the industry; inability to develop new and innovative products; the ability to 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. There can be no assurance that DMG will actually achieve its plans, projections or expectations. Such statements and information are based on a number of assumptions regarding current and future business strategies and the environment in which the company will operate in the future, including the demand for the products, the ability to develop software, that there will be no regulation or law. which will prevent the company from operating its business, expected costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve its goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not rely on these forward-looking statements. The securities of DMG are considered highly speculative due to DMG’s operations. For additional information about these and other risks and uncertainties, see the company’s filings at www.SEDAR.com. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.
Factors that could cause actual results to differ materially from those in forward-looking statements include lack of regulatory approval, continued availability of capital and financing, equipment failure, lack of supply of equipment, power and infrastructure, failure to obtain permits necessary to operate the business, the impact of technology changes on the 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, consumer sentiments towards DMG’s products, services and blockchain technology in general, lack development of new and innovative products, litigation, adverse weather or climate events, increases in operating costs, increases in equipment and labor costs, decreases in the price of Bitcoin, failure of counterparties to fulfill their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements in this press release are expressly qualified by this cautionary statement. The reader is cautioned not to rely on forward-looking information. The forward-looking statements in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and undertakes 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 of or statements from third parties in relation to the matters discussed above.
