VANCOUVER, British Columbia, May 17, 2018 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V:DMGI)
(“DMG” or the “Company”), a diversified blockchain and cryptocurrency company, announced today
that its Blockchain Forensics & Analytics group is expanding internationally with contracts from several new international auditing
and consulting firms.
DMG’s Blockchain Forensics & Analytics group uses sophisticated artificial intelligence (AI) and machine learning (ML)
technology to help customers monitor cryptocurrency exchanges and payment platforms, and to examine the flow of cryptocurrency
through the blockchain in order to establish the provenance and destination of crypto wallet funds. DMG provides analytics support
for the Bitcoin and Ethereum blockchains (including ERC20 tokens and ICOs), and over the course of the next year DMG plans to
support analytics for Litecoin, Bitcoin Cash, Ripple and Stellar as well.
“We are currently working in China, Panama, Japan and other international markets assisting clients with potentially
non-compliant transactions. DMG is also consulting directly with regulators on KYC and AML standards and detection,” said Simon
Padgett, Director of Forensic Services at DMG Blockchain Solutions Inc. “This is a very time-sensitive business, and we have the
tools for real-time analytics. For example, we were recently appointed by MNP, a major auditing firm, to assist with an urgent
blockchain audit verification requirement on a very tight deadline.”
As part of its forensic work, DMG also develops international training sessions to sensitize executives, auditors and compliance
employees at banking, accounting and auditing firms about fraud and non-compliance risk in cryptocurrency exchanges as well as how
to audit blockchain systems and their transactions.
“Our Blockchain Forensics & Analytics group is already trusted by major law enforcement and U.S. Federal Government agencies.
Now, our technology and services are being recognized by top international auditing firms,” said Dan Reitzik, CEO of DMG Blockchain
Solutions Inc. “We believe deeply in the economic value of blockchain technology, and we are proud to be bringing a new level of
trust and risk management to help the ecosystem mature.”
About DMG Blockchain Solutions
DMG Blockchain Solutions Inc. is a diversified blockchain and cryptocurrency company that manages, operates and develops
end-to-end solutions to monetize the blockchain ecosystem. DMG intends to be the global leader in bitcoin mine hosting - Mining as
a Service (MaaS), bitcoin mining, blockchain forensics/analytics, and blockchain platform development.
For more information on DMG Blockchain Solutions visit: dmgblockchain.com
On behalf of the Board of Directors,
Daniel Reitzik, CEO & Director
For further information, please contact:
DMG Blockchain Solutions Inc.
Investor Relations: John Martin
Toll Free: 1-888-702-0258
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
Direct: 778-868-6470
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information based on current expectations. Statements about the
Company’s plans and intentions, other potential transactions, obtaining clients for the forensics and analytics group, product
development, 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, 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 achieve goals and
the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these
forward-looking statements.
There can be no assurance that DMG will continue to obtain additional clients for its forensics and
analytics products and services.
The securities of DMG are considered highly speculative due to the nature of DMG’s business.
Factors that could cause the 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, 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, 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.
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.
