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VANCOUVER, April 19, 2018 /CNW/ - Good Life Networks Inc. ("GLN", or the "Company") (TSX-V: "GOOD"), a Vancouver-based programmatic advertising technology company, is pleased to announce that it has entered into an Advisory Agreement with First Coin Capital to assist in the detailed analysis and planning of the GLN accounts receivable ("AR") Blockchain application.
GLN's patent pending Blockchain application is designed to accelerate AR payment cycles for vendors in the digital advertising ecosystem. Currently, programmatic advertising allows for transactions in fractions of a seconds, while the payments are typically settled on 90, 120 or even 180-day cycles, tying up billions of dollars of working capital across the digital publishing industry. GLN's AR Blockchain solution will help to ensure next day payments to publishers without requiring advertisers to change their behavior, all without needing third party intermediaries such as factoring agents.
First Coin Capital is a Vancouver-based technology services company dedicated to advising established companies and providing access to the emerging digital currency asset class.
In February of this year, First Coin Capital, Galaxy Digital and Bradmer Pharmaceuticals Inc. entered into an arrangement agreement to combine their respective assets to form a leading new enterprise in the blockchain, digital asset and cryptocurrency space. Galaxy Digital was founded by Michael Novogratz, early investor in cryptocurrency and former Principal and Chief Investment Officer at Fortress Investment Group LLC and former Partner at Goldman Sachs.
"Our relationship with First Coin Capital will help us deliver our AR Blockchain solution on a global scale. The benefits to the digital industry are game changing. I firmly believe that GLN and First Coin Capital are the team to make this happen in 2018." Said Jesse Dylan, CEO of GLN.
"We are thrilled about the opportunity to support GLN in exploring an innovative, Blockchain-based financial solution for the adtech space." Stated Jon Austrom, Co-founder & COO of First Coin Capital.
The GLN Story
GLN harnesses the power of artificial intelligence to improve marketing return on investments for advertisers using its patent pending video advertising technology. By 2020, MAGNA, the research arm of media buying firm IPG Mediabrands, expects digital ads to make up 50 percent of all ad spending, expected to reach $237 billion this year. GLN recently closed a $9.2 million subscription financing prior to closing its qualifying transaction and trades on the TSX Venture Exchange under the stock symbol "GOOD" and The Frankfurt Stock Exchange under the stock symbol 4G5.
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 release.
Forward Looking Statements:
Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs regarding future events of management of GLN. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to the Advisory Agreement. These statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. Important factors that may cause actual results to vary include without limitation, risks relating to the Company's Blockchain patent application, approval of the TSX Venture Exchange and general economic conditions or conditions in the financial markets. In making the forward‐looking statements in this news release, the Company has applied several material assumptions, including without limitation that the Blockchain application will be successfully completed in the time expected by management and its Advisory Agreement with First Coin Capital will produce the desired results, generate the anticipated revenue and expand GLN's global reach per management's expectations. GLN does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements, other than as required by applicable securities laws. Additional information identifying risks and uncertainties is contained in GLN's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
SOURCE Good Life Networks Inc.
For further information: [email protected] or call 604 265 7511.