VANCOUVER, British Columbia, Nov. 26, 2019 (GLOBE NEWSWIRE) -- DLTa21 Blockchain Corp. (“DLTa21" or the “Company”), a Canadian technology company, is pleased to announce that effective November 1, 2019, the Company executed an exclusive licensing agreement with two large, U.S.-based universities (the “Universities”), providing for the use of a unique and patented predictive modelling software that can be deployed in the online data analytics and consumer marketing space. Specifically, the Universities have developed proprietary data algorithms that have been designed to analyze the transactional data of individuals in order to detect spending patterns, validate assumptions and calculate and quantify the social influence of individuals in terms of driving and measuring online and in-store retail sales. The software analyzes specific data as well as consumer behavior in order to develop validated metric similar to a “FICO” credit score generated for individuals. The results provide marketers and their clients with unique insights that can be quantified and used to measure the overall value and relative social influence of their target customers to better design and utilize marketing campaigns. The Company expects to commercialize this technology with various marketing organizations so that our clients can better understand the impact of their marketing efforts to increase revenue, refine product offerings, reduce customer churn and better optimize customer acquisition and efficiency of marketing budgets.
In addition, following an extensive review of its business operations and cost structure in Japan, the Company has determined that the operating costs, prolonged downturn in the cryptocurrency market and heightened regulatory environment being imposed on exchange operators in Japan did not justify the high costs of maintaining an office in Japan. Accordingly, the Company is in the process of conducting an orderly wind-up of the business operations of its wholly owned subsidiary in Japan and will continue to manage and evaluate business opportunities from its head office in Canada. The Company’s plans to roll out its partnership with Shufle Inc. (“Bunz”), and pursue a centralized cryptocurrency trading platform in Japan, have been placed on hold indefinitely.
The Company further announces that it has settled debt in the aggregate amount of CAD $205,434.45 owing to, inter alia, its consultants and insiders through the issuance of 4,108,689 common shares (the “Debt Settlement”) in the capital of the Company at a deemed price of $0.05 per common share (the “Shares”).
As certain directors and officers of the Company received an aggregate of 2,147,225 Shares, the Debt Settlement is considered a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Such directors and officers declared their conflict of interest to the Company’s board of directors and did not participate in the ultimate decision-making deliberations of the board of directors regarding the Debt Settlement. The Company is relying on exemptions from the formal valuation and minority approval requirements of MI 61-101 contained in sections 5.5 and 5.7 of MI 61-101, respectively with respect to the issuance of shares to the directors and officers.
On behalf of the Board of Directors of DLTa21 Blockchain Corp.
“B. Matthew Hornor”
B. Matthew Hornor
Executive Chairman
For further information please contact:
DLTa21 Blockchain Corp.
B. Matthew Hornor, Executive Chairman
Email: mh@dlta21.com
Telephone: 778-955-6133
www.dlta21.com
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws including statements relating to the debt settlement, and regulatory approvals received in connection with the debt settlement. Although the Company believes considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them as the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this news release are made as of the date of this release. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company its securities, or its financial or operating results.