DMG Announces Steven Eliscu Jo
VANCOUVER, British Columbia, May 10, 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 that Steven Eliscu has joined the management team as chief operating officer.
Steven Eliscu, formerly an independent director of the company, is a seasoned executive who has held leadership positions at companies in the blockchain and semiconductor industries. Most recently, Steven worked as a finance manager for DSP Concepts, an embedded software company in Silicon Valley. Previously, he was Senior Director of Finance at Bitfury, an international blockchain technology company, and consulted for several blockchain startups. Steven will focus on improving the company’s execution of its “Core and Core+” strategy while leveraging his 9 years of experience at UBS as a senior equity research analyst to enhance efforts engagement of DMG shareholders.
Mr. Eliscu commented, “I am delighted to join DMG in a leadership role to help manage the dramatic growth the company is experiencing and provide investors with clear insight into the drivers of our monetization strategy both from the creation of bitcoins and bitcoin transactions. In the years to come. My goal is for DMG to be seen as the preeminent cryptocurrency company for green mining and clean transactions.
Steven will work closely with CEO Sheldon Bennett and the DMG team to grow the company’s mining capability while remaining focused on its 12 month or less ROI framework, as well as expanding the software capabilities of DMG to ensure bitcoin transactions meet the highest level of ESG and regulatory compliance standards. “Steven brings a wealth of experience and complementary skills that will make DMG more effective in delivering shareholder returns. Steven is acutely aware of what investors expect from DMG and is focused on delivering results that will enable DMG to achieve its goals,” said Sheldon Bennett, CEO of DMG.
DMG also wishes to announce the granting of 2,730,000 stock options (“Options”) to directors and employees of the Company. The options are exercisable for a period of five years at a price of $0.37 per share and will vest 25% on each of the six, twelve, eighteen and twenty-four month anniversaries of the date of grant.
About DMG Blockchain Solutions Inc.
DMG is a vertically integrated, eco-friendly blockchain and cryptocurrency company that manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s sustainable activities are segmented into two business areas under the Core and Core+ strategies and unified through the vertical integration of DMG.
Future changes in the bitcoin network-wide mining difficulty rate or bitcoin hash rate could materially affect the future performance of DMG’s bitcoin production, and future operating results could also be materially affected by Bitcoin price and an increase in hash rate mining difficulty.
For more information about DMG Blockchain Solutions, visit: www.dmgblockchain.com
Follow @dmgblockchain on Twitter and subscribe to the DMG YouTube channel.
On behalf of the Board of Directors,
Sheldon Bennett, CEO and Director
For more information, please contact:
DMG Blockchain Solutions Inc.
E-mail: [email protected]
The Web: www.dmgblockchain.com
Contact with Investor Relations:
CORE IR 516-222-2560
For media inquiries:
Jules Abraham, Public Relations Manager
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Caution Regarding Forward-Looking Information
Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward-looking terms such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe”, and “continue”. or the negative thereof or similar variations. Readers are cautioned that the assumptions used in preparing any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, 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, the volatility in the price of the Company’s common stock, business, economic and financial market conditions; the ability to manage operating expenses, which could adversely affect the Company’s financial condition; the ability to remain competitive as other, better-funded competitors develop and market competitive products; regulatory uncertainties; access to equipment; market conditions and product demand and prices; bitcoin demand and price; security threats, including loss/theft of DMG 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 launch new products on a timely basis that meet customer needs; the ability to attract, retain and motivate qualified personnel; industry competition; the impact of technological changes on products and the industry; inability to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend claims of third parties for 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 reliance on key personnel. DMG may not achieve its plans, projections or expectations. These 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 demand for its products, ability to successfully develop software, there will be no regulations or laws that will prevent the Company from carrying on business, expected costs, ability to obtain sufficient capital to carry out its business plans, ability to achieve its objectives and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. DMG’s securities are considered highly speculative due to the nature of DMG’s business. For further information regarding these and other risks and uncertainties, please see the Company’s filings at www.SEDAR.com including the Annual Information Form for the fiscal year ended September 30, 2020, filed January 28, 2021.
Factors that could cause actual results to differ materially from those in the forward-looking statements include, failure to obtain regulatory approval, continued availability of capital and financing, equipment failures, lack of supply of equipment, electricity and infrastructure, the inability to obtain permits necessary to operate the business, the impact of technological 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 staff, competition, security threats, including bitcoins stolen from DMG or its customers, consumer sentiment towards products, services and DMG’s blockchain technology in general, inability to develop new and innovative products, litigation, increased operating costs, increased team costs and labor, decline in Bitcoin price, inability of counterparties to perform contractual obligations, government regulations, loss of key employees and consultants, and general environmental liability economic, market, or business conditions . The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, the Company assumes no obligation to comment on any expectations or representations made by third parties with respect to the matters discussed above.