Black Cactus Global Secures $3.6 million Funding for ‘Fintech Valley’, India Blockchain Development Center. Plans for Second Development Center
LAS VEGAS, June 26, 2018 (GLOBE NEWSWIRE) -- Black Cactus Global (OTC:BLGI) (the “Company”) is pleased to announce that the Company has secured up to 3.6 million USD in funding for its India based Blockchain development subsidiary, Black Cactus Global Technologies Pvt. Limited (“BCG-TPL).
The financing fully funds the Company’s BCG-TPL operations from June 1st, 2018 to May 31st, 2019.. The capital has been sourced internally from the Board of Director’s.
The Company’s BCG-TPL Blockchain team has been achieving significant milestones at its Development Center in the burgeoning ‘Fintech Valley’ of Visakhapatnam (‘Vizag’) India. The state-of-the-art Vizag Development Center is expected to be fully staffed by mid to late summer to accommodate projected new business, and the Company is planning to develop a second Operations Center in 2019 at the Tech-hub of Hyderabad, India. Hyderabad is known as the HITEC City and is home to major technology development centers for Microsoft, Apple, Google, Oracle, JP Morgan, Facebook and many others.
Chairman Harp Sangha commented, “We are extremely grateful to the Board for both this financial backing and the vision for aggressive growth of the Company. Our management, design team and Development Center are all world class and will enable us to deliver Blockchain-based technology platforms and services around the globe. Our planned operation in Hyderabad will put us right in the heart of cyber-central and will provide a powerful opportunity to add to our relationships and build our brand as the leader in Blockchain Technology.”
For further information please visit our website at: www.blackcactusglobal.com
The Company encourages those interested in the Company to rely solely on information included in its press releases combined with its filings and disclosures made with the U.S. Securities and Exchange Commission.
Safe Harbor Statements
Certain information contained in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates”, “intends” or “believes”, or that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, or “be achieved”. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the SEC. Such risks and other factors include, among others, the ability to locate and acquire suitable interests in alternative medicine manufacturing operations on terms acceptable to the Company, the availability of financing on acceptable terms, accidents, labor disputes, acts of God and other risks of the technology industry including, without limitation, delays in obtaining governmental approvals or permits, title disputes or claims limitations on insurance coverage. The Company believes that the expectations reflected in the forward-looking statements included in this news release are reasonable; however, no assurance can be given that these expectations will prove to be correct, and such forward-looking statements should not be unduly relied upon. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
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