LAS VEGAS, May 17, 2018 (GLOBE NEWSWIRE) -- Black Cactus Global (OTCQB:BLGI) (the “Company”) is pleased to announce that the company has completed a share exchange agreement with the Blockchain development subsidiary, Black Cactus Global Technologies Pvt. Limited (“BCG-TPL). The agreement calls for the BLGI to own an initial 29% interest in BCG-TPL which has already achieved significant milestones that will enable BLGI to scale-up development activities.
BCG-TPL has already setup a Blockchain development center (see gallery on website) in the newly developed Vizag Software Technology Park in Visakhapatnam, India, known as “FinTech” Valley (http://www.fintechvalleyvizag.com/). The development center is currently staffed with 50 developers, with a workspace capacity for a total of 175 developers. Currently, interviews and a rigorous selection process is underway for the additional tech-team members, and we expect to be fully staffed by the end of summer. We have an option for an additional full floor, sufficient to house up to 575 developers as new projects come onboard. Our current focus is healthcare, Fintech, logistics and energy solutions. We are close to completing a number of POC’s related to these verticals.
This modern facility, will house one of the larger Blockchain development teams, it will enable Black Cactus Global to service its clients in an extremely professional and effective manner, and to deliver on the promise of Blockchain technology.
Chairman Harp Sangha commented, “Our time in India over the past months has been extremely well spent. We are well along the path to deliver Blockchain-based technology platforms and services. From our Fintech Valley Center we are able to serve our clients in the most productive and cost-effective manner. Our people are highly trained and motivated, and the message is clear, Black Cactus plans to position itself as one of the leaders in Blockchain Technology.”
For further information please visit our website at: www.blackcactusglobal.com
The Company encourages those interested in the Company to rely solely on information included in its press releases combined with its filings and disclosures made with the U.S. Securities and Exchange Commission.
Company Contact: Louis Silver
Tel: +1-610-710-1303 • Email: email@example.com; firstname.lastname@example.org
Safe Harbor Statements
Certain information contained in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates”, “intends” or “believes”, or that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, or “be achieved”. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the SEC. Such risks and other factors include, among others, the ability to locate and acquire suitable interests in alternative medicine manufacturing operations on terms acceptable to the Company, the availability of financing on acceptable terms, accidents, labor disputes, acts of God and other risks of the alternative medicine industry including, without limitation, delays in obtaining governmental approvals or permits, title disputes or claims limitations on insurance coverage. The Company believes that the expectations reflected in the forward-looking statements included in this news release are reasonable; however, no assurance can be given that these expectations will prove to be correct, and such forward-looking statements should not be unduly relied upon. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.