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TORONTO, July 03, 2018 (GLOBE NEWSWIRE) -- Blockchain Foundry Inc. (“Blockchain Foundry” or the “Company”) (CSE:BCFN) is pleased to announce that it has engaged Intercontinental Advisory Corp. (“IAC”) to assist with corporate advisory initiatives for a six month term. Pursuant to the agreement, IAC has been issued 500,000 common shares of Blockchain Foundry at a price of $0.145 per common share and 1,000,000 common share purchase warrants exercisable at $0.75 per common share. IAC is also eligible to receive an additional 1,500,000 common shares in six equal monthly instalments during the term of the agreement.
“We are excited to partner with advisors like IAC who understand our business and support our mission of building practical, blockchain-based applications for businesses and consumers. IAC has the experience and relationships to broaden Blockchain Foundry’s customer base and build further value for our shareholders, stakeholders and customers,” said Dan Wasyluk, President and Chief Executive Officer of Blockchain Foundry.
About Blockchain Foundry Inc.
Blockchain Foundry Inc. develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology in their businesses. Blockchain Foundry Inc. has developed a proprietary blockchain-based e-commerce solution, Blockmarket, which is a downloadable software application and has begun development work on a web-based Blockmarket application.
Forward-Looking Information
Certain portions of this press release contain “forward-looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward-looking statements”, which may not be based on historical fact. Wherever possible, words such as “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” “could,” “would” or might, and the negative of such expressions or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, have been used to identify forward looking information. Such forward-looking statements include, without limitation, the potential issuance of 1,500,000 common shares to IAC during the term of the Agreement and other factors.
Forward-looking statements should not be read as guarantees of future events, future performance or results, and will not necessarily be accurate indicators of the times at, or by which, such events, performance or results will be achieved, if achieved at all. Readers should not place undue reliance on such forward-looking statements, as they reflect management’s current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Blockchain Foundry are inherently subject to significant business, economic, regulatory, competitive, political and social uncertainties and contingencies. Many factors could cause Blockchain Foundry’s actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements.
SOURCE: Blockchain Foundry Inc.
Christopher Marsh
Chief Financial Officer
(647) 330-4572