Vancouver, British Columbia--(Newsfile Corp. - June 25, 2018) - eXeBlock Technology Corporation (CSE: XBLK) ('eXeBlock' or the 'Company') is pleased announce that the Board of Directors has appointed Mr. Jamie Davison as the new President and Chief Executive Officer of the Company, effective immediately. Mr. Davison replaces Mr. Ian Klassen who will remain a member of the Board of Directors and will continue to advise the Company on an ongoing basis.
Mr. Davison brings extensive operating and executive leadership experience to the team, highlighted by his strong track record of value creation and his depth of knowledge in commercializing innovation technology. Most recently, Mr. Davison served as Vice President, Innovation and Renewal at the Atlantic Lottery Corporation where he was responsible for managing and directing the Innovation group which was comprised of a research arm focused on the 4D development process, a development team launching MVP's and internal innovation and culture initiatives. Mr. Davison, an Economics graduate from Acadia University, will be based in Halifax where he will utilize his results driven skills to carry on the Company's business model of DApp development and commercialization.
"This is the perfect time for Jamie to become eXeblock's new Chief Executive Officer. We've selected a very strong leader at a time when eXeBlock anticipates the launch of several exciting decentralized applications," said Paul Thompson, Director of eXeBlock. "The adoption of blockchain applications is growing exponentially. Companies and individuals all over the world are attempting to understand the disruptive potential of blockchain applications. Jamie will play a key role in navigating eXeBlock's transformation from development to commercial operations. We believe Jamie has a unique ability to translate the Company's vision and strategy into execution while building an innovative team and environment to drive results."
"On behalf of eXeBlock and the Board of Directors, we would like to thank Mr. Klassen for his dedication and significant contribution to the Company."
Lastly, the Company is pleased to announce that subject to regulatory approval, it has granted incentive stock options to Mr. Davison, to purchase up to 500,000 common shares exercisable on or before June 21, 2023 at a price of $0.15 per share.
About eXeBlock Technology Corporation
eXeBlock is a designer of custom, state-of-the-art blockchain based software applications that provide profitable, secure and efficient operating solutions to businesses and markets globally. eXeBlock is one of the first Canadian public companies focused on the development of disruptive decentralized applications using blockchain technology.
For More Information about the Company, please contact:
Tel: 902- 405-4600
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This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words 'estimate', 'project', 'belief', 'will', 'anticipate', 'intend', 'expect', 'plan', 'predict', 'may' or 'should' and the negative of these words or such variations or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to the commercialization of the Freedom Ledger application, the ability to generate revenues from the application. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements. There are a number of important risk factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such risk factors include, among others, the Company's limited operating history and expected continued operating losses; failure of the Company's business strategy; inherent risks of the cryptocurrency and blockchain industry; system failures and security risks; government regulation; need for additional financing requirements and access to capital; reliance on key and qualified personnel; dependence on third party relationships; insurance; competition; and intellectual property. Other factors include risks associated with the marketing and sale of securities; dilution; the potential for conflicts of interest among certain officers or directors; and the volatility of the Company's common share price and volume.
For a more detailed discussion of risk factors, refer to the Company's prospectus dated November 9, 2017 filed under the Company's profile on SEDAR www.sedar.com and on the CSE's website.
The Company cautions that the foregoing list of material risk factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing risk factors and other uncertainties and potential events. The Company has assumed a certain progression of its business objectives, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these risk factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
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