VANCOUVER, British Columbia, May18, 2022(GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated blockchain and cryptocurrency technology company, announces a $1 Million strategic investment in The INX Digital Company (“INX”), one of the world’s first companies to receive FINRA clearance for trading security tokens, and the first to execute an SEC-registered IPO for a digital security made available to the general public (The INX Token). INX has launched a regulated digital asset trading ecosystem and is pioneering a new tokenized economy.
DMG’s investment in INX is a strategic initiative to promote institutional adoption of cryptocurrencies and blockchain technologies as well as accelerate the development of its Blockseer Core+ strategy. DMG believes that INX represents a multi-billion dollar opportunity as a front-runner in digital asset trading markets. INX is well-positioned to take significant market share as one of the top regulated trading platforms in the next five years.
Currently, INX Digital has successfully launched a regulated digital asset trading ecosystem for:
1) Listing and Trading cryptocurrencies
2) Listing and Trading private and public security tokens
3) Listing and Trading of digital asset derivatives (roadmap)
“DMG views this investment in INX as a furthering of its Core+ strategy to drive transaction revenue streams. Our INX partnership offers DMG the opportunity for Blockseer to add to its development roadmap the ability to offer customers new Blockseer-based products,” said Sheldon Bennett, DMG’s CEO.
“DMG’s investment is a testament to our shared commitment to bridging the traditional economy with the unmatched opportunities of a decentralized crypto economy. This investment will allow the rapid growth of our unique blockchain solutions. We are working to change the paradigm through introducing new investment opportunities and capital raises for the people, by the people,” said Alan Silbert, CEO (North America) of The INX Digital Company.
About The INX Digital Company
INX Digital, the holding company for INX Group, develops regulated trading platforms for digital securities and cryptocurrencies. Combining traditional market expertise and an innovative fintech approach, INX seeks to become the preferred global regulated hub for digital assets on the blockchain. It is empowering communities and shaping the industry by operating in SEC-and SEC and FINRA-regulated environments. The company raised its first capital of US$83 million through its initial public INX Token offering and is now working to expand capital raising options for others. The INX Group's overall mission is to bring communities together and empower them through financial innovation. In addition to operating two regulated trading platforms for blockchain assets, the Company's interdealer broker, I.L.S. Brokers is working to offer non-deliverable cryptocurrency forwards to Tier-1 banks in the near future. For more information, please visit the INX Group website here.
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
Follow @dmgblockchain on Twitter and subscribe to DMG's YouTube channel.
On behalf of the Board of Directors,
Sheldon Bennett, CEO and Director
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, Head of Public Relations
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
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, the ability of the Auditors to complete its internal review and audit procedures for the Company’s financial year ended September 30, 2021 in a timely manner, 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 including the annual information form for the year ended September 30, 2020, filed on January 28, 2021.
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, 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.
