Los Angeles, CA, Feb. 14, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Geopulse Management is pleased to announce that it has reached a significant milestone in its capital raise, and wanted to elaborate on happenings in the cryptocurrency industry and highlight how its processes and strategy are differentiated.
For investors that haven’t heard the recent news – the top story in crypto for the past two weeks is the missing $150+ million from Canadian Crypto Exchange Quadriga CX. The founder/CEO reportedly perished in India under suspicious circumstances and in the process – over $150 million in customer cryptocurrency has gone missing because he was the only person with access to those accounts.
Geopulse management wanted to speak to its investors about this event because there is a lot of hesitancy in the adoption of cryptocurrency in part because of these stories.
Geopulse (Cannco, and Canncoin) are committed to using cryptocurrency and blockchain to bring clarity to the cryptocurrency arena. Our chosen target industry (Cannabis) is currently in its own process of coming out of the shadows and Cannco intends to be a favorable force in that regard. The Ecosystem we are designing will not be susceptible to the failure or potential fraud taking place at Quadriga, as the securities regulators and our own internal guidelines won’t let that happen. Bringing us to another topic: the Security Token and – Security Token Exchanges operated within the laws enforced by the Securities and Exchange Commission.
Part of the guidelines that will be enforced by US regulators is the use of a “Share/Token Registrar” for securities – meaning that if an investor loses his hard-wallet, or password for an investment – that individual would have recourse to a “transfer agent” allowing those securities to be re-issued to the investor. This is an investor protection afforded to participants in the securities market in the US. Potentially eliminating a QuadrigaCX type event from happening in the future.
Geopulse agrees that oversight, redundancy and protections need to be in place to facilitate the growth and adoption in cryptocurrency – especially when planning on deploying these technologies into the cannabis industry.
FINRA recently approved for trading TZero’s Security Token and its Security Token Exchange has begun operations. We applaud their pioneering the space as they are fellow clients with us of the Start Engine.com Crowdfunding platform.
While the company is still operating a crowdfunding effort on StartEngine – management is proud to announce that the crowdfunding has crossed the 500 investor milestone on the platform. One of the major challenges of raising capital as a young company is finding and building a large shareholder base. A benefit of crowdfunding is the identification of investors that are passionate about a Company and willing to take a long term view about investment and allow the Company time to achieve its goals. Geopulse/Cannco is very excited that 500 individuals have chosen to show their support. The financing we are completing is fundamentally structured - non-toxic and minimally dilutive. We are especially excited at the support we are generating during a tumultuous time in the crypto markets.
The Company is excited that the cryptocurrency markets seem to have stabilized and are showing signs of life in the exchanges as well as the ICO markets. Further, management is encouraged that pension funds have begun investing in Blockchain Technology funds - which is an indicator that these technologies are here to stay.
Geopulse (Cannco Brands and Development) is currently working with industry participants to develop a robust advisory board and continue to design and build the technologies it intends to deploy in the coming months. The Company will share the backgrounds of some of the industry participants that are interested in becoming Beta partners and Advisors in the coming weeks.
About Geopulse Exploration Inc., DBA Cannco Brands and Development
Geopulse (OTC PINK: GPLS) develops a blockchain-powered logistics, financial services and promotion platform for the unbanked, early stage and explosive growth U.S. and Canadian cannabis sector. Management is comprised of tech and finance veterans with strong product management experience. Among its assets (or pending acquisitions) are THCFinder.com, 300,000 user geo-finder app for cannabis dispensaries and MMJ medical offices throughout the US; CannCoin, a native token underlying a distributed ledger logistics and financial services ecosystem for cannabis; revenue generating StonerDays.com, an online D2C lifestyle community with 700,000 followers. Cannco Brands intends to provide the commercial services such as transparent supply chain management, business banking and merchant processing, trade finance, direct-to-consumer engagement solutions.
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Geopulse Exploration, Inc. cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. Geopulse Exploration, Inc. undertakes no obligation to revise these statements following the date of this news release.