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VANCOUVER, British Columbia, 20 August 2018 (GLOBE NEWSWIRE) – Fortress Blockchain Corp. (" Fortress Blockchain " or " Corporation ") (TSXV: FORT), a company growth-oriented blockchain mining operations established in low-cost regions of North America's green energy, is pleased to announce that the Corporation's common stock will begin trading on the TSX Venture Exchange Inc. ("TSXV") with the "FORT" symbol, The opening of the Canadian financial markets on 22 August 2018.
Fortress Blockchain will also release the financial results of the second quarter 2018 before the market opening on Thursday 23 August 2018 and has scheduled a conference call for investors to discuss its financial results at 11:00 AM EDT on August 23, 2018 hosted by CEO Aydin Kilic and CFO David Pais, followed by a question and answer session
Corporate Milestones
- Closed $ 15M pre-QT private placement with some of the major Canadian institutional investors
- Acquired a current operating capacity of 2MW (with potential up to 5MW of total operational capacity with upgrades to electrical infrastructure) in the State of Washington (the "Flagship Facility" ") with an all-low energy cost of US $ 0.026 / kWh
- Received 1,400 Bitmain S9 Antminers and all operated before the end of Q1 2018
- Signed letters of intent for 9MW and 100 structures MW, which remain subject to further due diligence
- Added major principals including:
- Roy Sebag (Chairman) and Josh Crumb, co-founder of Goldmoney, a company listed on the Toronto Stock Exchange
- David Jaques, founder of the CFO of Paypal
- Kent Wakeford, co-founder and chief operating officer of Kabam, Inc who was sold to NetMarble Games for $ 750 million
- Joint Consultants, including the former mining manager of Bitmain, Gao Yong Gang
- Extract more than 155 Bitcoins and 58 Bitcoins Cash since he started mining operations in March 2018 at an overall operating cost (electricity, rent, staff 24/7 US $ 0.041 / kWh
- Flagship Facility currently operates with an energy efficiency report ("PUE" report) of 1.02-1.05, which allows Fortress to manage up to 700 Bitmain S9 Antminers per megawatt ("MW") of operational capacity, which at 13.5 TH / s per miner, produces up to 9.45 PH / s of hash capacity per MW. Depending on the PUE, typical data center facilities will operate between 600-650 min per MW. The hash rate is the measure of crypto-currency production; a higher hash rate directly corresponds to a higher production output of crypto-currency.
" This event marks a significant milestone in the transformation of Fortress Blockchain as we will now move from private and public capital markets to the issuer of the TSX Venture Exchange ", declared Aydin Kilic, co-founder, CEO and director of Fortress Blockchain. " We are now able to focus on increasing our market presence by delivering all the value to our shareholders through the transfer of our operational efficiencies and our cost structure. We look forward to the next phase of our growth cycle as Canadian digital currency miner listed on the stock exchange and we thank our investors for their continued support "
Second Quarter Earnings Call call details:
Date: Thursday 23 August 2018
Time: 8:00 AM (PST) / 11: 00 AM (EST)
Dial-in numbers of participants:
Local – (+1) 416 764 8688
Toll-free number – (+1) 888 390 0546
Conference ID: 55691235
About Fortress Blockchain Corp.
Fortress Blockchain Corp. is a technology-oriented mining company committed to operating low-cost North America green – energy regions. Fortress resources are currently dedicated to achieving the peak of operational efficiency in industrial-scale Bitcoin extraction, in order to provide industry-leading competitive advantage in terms of performance. The Fortress has strategically acquired a state-of-the-art mining facility in Washington, which has been in continuous operation since 2014, serving as a research and development facility to optimize and build the next generation of highly scalable blockchain mining infrastructure.
For further information, contact:
| Aydin Kilic Chief Executive Officer 604 477 9997 [email protected] |
Prit Singh Investor Relations 905 510 7636 [email protected] |
Neither the TSX Venture Exchange nor its regulatory service provider (as defined by that term in the TSX Venture Exchange policies) accept responsibility for the adequacy or accuracy of the present press release. [19659003] The titles mentioned in this press release have not been and will not be registered under the United States Securities Act of 1933 and subsequent amendments and may not be offered or sold in the United States or the account or benefit of, US Persons absent registration of the United States or an exemption applicable by US registration requirements.
This press release does not constitute an offer for the sale of securities, nor a solicitation of offers to buy securities.
Forward-looking Statements:
The statements in this press release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forecasting Information") within the meaning of the applicable Canadian securities legislation. The forecasts include, but are not limited to, information on possible events, income, conditions or expected financial returns based on assumptions about future economic conditions and policies. In some cases, forecasting information can be identified by using words and phrases such as "plans", "expect" or "do not expect", "is expected", "quote", "scheduled", " I suggest "," Optimize "," estimate "," forecast "," intend "," anticipate "," potential "or" do not anticipate ", believe", "anomalous" or variations of such words and phrases or statements that certain actions , events or results "may", "could", "would", "may" or "will be taken", "occur" or "be achieved." Forward-looking information involves known risks, unknown risks, uncertainties and other factors that may cause actual results, performance, or results that are substantially different from future results, performance or results expressed or implied by forecasts, although Fortress Blockchain has attempted to identify important factors that could affect Fortress Blockchain and cause actual actions, events, or results that differ Aterially from those described in the forward-looking information, there may be other factors that could cause actions, events or results that are not as expected, estimated or expected. There is no guarantee that forward-looking information will prove to be accurate, as actual results and future events may differ materially from those expected in such statements. As a result, readers should not rely excessively on forward-looking information. Except as required by law, Fortress Blockchain assumes no obligation to publicly disclose any revisions to the forward-looking information contained in this press release to reflect events or circumstances after the date of this document or to reflect the occurrence of unforeseen events.
