TORONTO, Sept. 02, 2021 (GLOBE NEWSWIRE) -- Fortress Technologies Inc. (TSX-V: FORT) (the “Company” or “Fortress”) is pleased to announce that Mr. Marcus Dent will be joining the Company’s Board of Directors effective immediately.
Mr. Dent is a well-respected thought leader in the industry growing around the Bitcoin network. Leveraging his background in economics, finance, and design, Mr. Dent has developed a Bitcoin and free markets-focused media company, which he operates under the pen name Marty Bent, that has educated millions of people about the potential for Bitcoin to be a positive impetus for change in an increasingly digital and connected world. In addition, Mr. Dent is the Director of Business Development at Great American Mining LLC “GAM”), a Bitcoin mining company focused on off-grid mining and which uses low-cost non-rival energy sources such as natural gas that would otherwise be flared throughout oil fields. The Company is currently a partner with GAM, which is building and deploying 12 mobile mining containers that are expected to produce up to 158 PH/s of Bitcoin mining capacity while simultaneously reducing fugitive methane emissions, providing a supplementary revenue stream for the oil and gas operator, and making the economy more energy efficient.
Management and Directors join Chairman of the Board, Roy Sebag, in welcoming Mr. Dent. Mr. Sebag further commented, “We are honored to be welcoming Marty Bent as the newest member of our Board of Directors at Fortress. Marty and I have been discussing opportunities within the bitcoin landscape for some time now. I have learned a great deal from him and we both believe the timing is right to transform Fortress into a leading bitcoin focused publicly traded company. I feel confident that Marty will help the board unlock significant shareholder value while helping us craft the right long-term strategy for our business.”
The Company also announces that it has granted options to acquire a total of 2,000,000 common shares of the Company to Mr. Dent at the exercise price of $0.49 per share for a period of five years, subject to vesting requirements.
About Fortress Technologies
Fortress Technologies Inc. (TSX-V: FORT) is a well-capitalized company focused on developing projects where access to growth capital is highly valued, which can also advance ESG and environmentally conscious business initiatives.
For further information, please contact:
Sean Ty
Chief Financial Officer
604 477 9997
ir@fortressblockchain.io
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company, are forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions and future actions of senior management, the intentions, plans and future actions of the Company, as well as the Company’ ability to successfully mine digital currency; revenue increasing as currently anticipated; the ability to profitably liquidate current and future digital currency inventory; volatility of network difficulty and, digital currency prices and the resulting significant negative impact on the Company’s operations; the construction and operation of expanded blockchain infrastructure as currently planned; and the regulatory environment of cryptocurrency in applicable jurisdictions.
Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
