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 at 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 investors@dmgblockchain.com for access code) Event at the Arts District in Brooklyn, NY on April 12. The Nolcha Shows provide a platform for Web3 leaders and creatives to connect and collaborate through curated, immersive programming. CEO Sheldon Bennett and COO Steven Eliscu will be meeting at the event with both scheduled artist meetings and forward-looking discussions with artists and other interested attendees to discuss how Terra Pool is the only carbon neutral pool to custom inscribe valuable art collections effectively as non-fungible tokens (NFTs) on the Bitcoin blockchain using Petra and the Ordinals protocol.
Utilizing its Petra technology to direct transactions through Terra Pool, DMG ensures that no carbon is added in creating the inscription. CEO Sheldon Bennett commented, “It has consistently been the vision of DMG to monetize bitcoin transactions utilizing Terra Pool and Petra. Whereas our initial target market has been to service financial institutions that want to aggregate high-value on-chain bitcoin transactions without adding carbon nor commingling their transactions with bad actors, we are pleased to expand our service offerings to this completely complementary market of artists and digital content creators in a way we never imagined.”
Galaxy Research projects the market size of Bitcoin NFTs built on inscriptions and ordinals could be US$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 Eliscu added, “We believe we are at the forefront of monetizing this opportunity that leverages our already existing products. Our near-term objective is to be able to properly service this market by providing a sufficient supply of Bitcoin blockchain real estate being demanded 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 am PT in Las Vegas. CEO Sheldon Bennett and COO Steven Eliscu will be available for 1x1 meetings on April 26 as well.
Stock Option Grant
DMG also announces it has granted 1,072,050 stock options (“Options”) to employees and directors of the Company. The Options are exercisable for a period of five years at a price of $0.32 per share and will vest as to 25% on each of the six-, 12-, 18- and 24-month anniversaries of 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 focused on clean energy. The purpose of this initiative is to accelerate the shift 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 shares the received rewards and transaction fees proportionally among 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 unified through DMG’s vertical integration.
Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hash rate may materially affect the future performance of DMG’s production of Bitcoin, and future operating results could also be materially affected by the price of Bitcoin and an increase in hash rate mining difficulty.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
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For further information, please contact:
DMG Blockchain Solutions Inc.
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
Investor Relations Contact:
CORE IR 516-222-2560
For Media Inquiries:
Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com
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.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding upcoming conferences and events, the planned monetization of certain product and service offerings, the plans and goals of the Terra Pool, developing and executing on the Company’s products, services and business plans, the launch of products and services, 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, market and other conditions, volatility in the trading price of the common shares of the Company, 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 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 place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG's business. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on 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, 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, 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 sentiment towards DMG's products, services and blockchain technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs, increase in equipment and labor costs, decrease in the price of Bitcoin, 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.
