VANCOUVER, Jan. 18, 2018 /CNW/ - Neptune Dash Technologies Corp. ("Neptune" or the "Company") is pleased to advise that the common shares of the Company will commence trading on January 22, 2018 on the TSX Venture Exchange, under ticker "DASH" as a Tier 1 Technology Issuer. Neptune is also pleased to provide an update on its Dash Masternode operations and to welcome two strategic shareholders to the Company, including a large institutional investor.
Dash Masternode Update
Neptune exclusively builds and operates Dash Masternodes and invests in Dash Blockchain related technologies. Neptune currently operates 15 Dash Masternodes and has acquired 15,134 Dash and anticipates operating approximately 17-18 Dash Masternodes by January 31, 2018 and acquiring an additional 2,000 to 3,000 Dash, as each Dash Masternode requires 1,000 Dash as collateral. The Dash Blockchain currently compensates Dash Masternodes at a rate of 6.86 Dash per month. Since operations commenced, Neptune has realized a projected annual return on its Dash Masternode investment of approximately 7.7% not accounting for appreciation in market value. Neptune's average Dash acquisition cost is roughly $1,025CAD ($820USD).
Cale Moodie, President and CEO of Neptune states, "We are very pleased that Neptune's procurement strategy has enabled us to acquire Dash at a very reasonable average price since the financing closed. We are excited for the continued growth of the Dash network and adding to our Masternode pool throughout 2018".
Dash is a digital currency created to address Bitcoin's scaling challenges. Dash Masternodes facilitate the following functions on the Dash Blockchain:
- facilitating private, peer-to-peer transactions directly between parties;
- serving as a governance function and voting on treasury disbursements of the Dash block-reward allocated to the Dash DAO (Decentralized Autonomous Organization); and
- facilitating transactions that are processed near instantly on the Dash Blockchain.
Early Warning Report
Following the completion of the previously announced amalgamation (the "Amalgamation") between Neptune Dash Nodes Corp. and Crossroad Ventures Inc. which resulted in the Company as the amalgamated entity, Neptune Asset Group ("Neptune Asset Group") has ownership and control over 11,750,000 common shares in the capital of the Company, representing approximately 14.65% of the issued and outstanding shares of the Company. Prior to completion of the Amalgamation, Neptune Asset Group held no common shares in the capital of the Company. The head office of Neptune Asset Group is Suite 620 – 1155 West Pender Street, Vancouver, British Columbia V6E 2P4. Neptune Asset Group acquired the common shares in connection with the Amalgamation. Neptune Asset Group may in the future wish to increase or decrease its shareholdings in the Company as circumstances warrant. A copy of the early warning report, as required by National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues regarding Neptune Asset Group's acquisition of common shares of the Company may be found on www.sedar.com. For more information see the Listing Application of the Company dated January 15, 2018 filed on SEDAR.
Additionally, after giving effect to the Amalgamation, a large institutional investor has ownership of 10.94% of the issued and outstanding shares of the Company.
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements and information include, but are not limited to, statements with respect to proposed future transactions the Company may undertake and their expected timing. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out here in, including but not limited to: that the actual use of proceeds may differ from those currently stated; the inherent risks involved in the cryptocurrency and general securities markets; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
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.
SOURCE Neptune Dash Technologies Corp.
For further information: Neptune Dash Nodes Corp., Cale Moodie, President and CEO, 620 - 1155 West Pender Street, Vancouver, BC V6E 2P4, Phone: (604) 319-6955, Email: [email protected]