VANCOUVER, British Columbia, Sept. 19, 2024 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG”), a leading vertically integrated blockchain and data center technology company, announces the issuance of U.S. Patent No. 11,810,103 by the United States Patent and Trademark Office (USPTO). The patent covers DMG’s innovative Custom Mempool protocol for processing cryptographic events.
This patented system allows applications to send events to hash processors that operate on a custom mempool protocol, separate from the public blockchain protocol. Events are hashed only with other events that meet specific filtering criteria, preventing transactions from propagating to external nodes. This system improves control over which events are processed, improving security and privacy.
“This patent reinforces DMG’s commitment to developing secure and scalable digital asset solutions that give users more control over their transactions,” said DMG CEO Sheldon Bennett. “It is a key part of our Core+ strategy, particularly our Petra technology. Petra is designed to provide financial institutions and sophisticated ordinal artists the ability to transact using DMG’s Terra Pool, which operates in a carbon-neutral and regulatory-compliant environment.”
This patent forms the basis of DMG’s previously announced Petra technology, which has been successfully applied by both financial institutions (DMG and Zodia Custody Successfully Test Blockseer’s “Petra” PlatformOctober 20, 2021) and ordinal creators (DMG Blockchain Solutions Reaffirms Leadership in Bitcoin Blockchain ServicesMarch 1, 2024).
DMG Management at the ArcStone-Kingswood Growth Summit on September 26 in Toronto
DMG management will present at the ArcStone-Kingswood Growth Summit 2024, which will be held on September 26 from 8:00 a.m. to 5:00 p.m. ET at the Sheraton Centre Toronto Hotel, 123 Queen St West, Toronto. For more information about the event, visit arcstoneglobalsecurities.com/growth-summit. Sign up for GrowthSummit2024.eventbrite.ca.
Grant of Stock Options and Restricted Stock Units
In addition, DMG announces the granting of stock options and restricted stock units (RSUs) to employees and directors of the Company. A total of 398,920 stock options (“Options”) and 2,000,000 restricted stock units (“RSUs”) have been granted. The Options are exercisable over five years at a price of $0.48 per share, with 25% vesting on the 6-, 12-, 18- and 24-month anniversaries of the grant date. The RSUs vest in one year; these awards are designed to create an incentive structure that aligns long-term performance with the Company’s growth.
About DMG Blockchain Solutions Inc.
DMG is a sustainable, vertically integrated blockchain and data center technology company that develops, manages, and operates comprehensive platform solutions to monetize the blockchain ecosystem. The company’s operations are guided by two strategic pillars: Core and Core+, both unified by DMG’s commitment to vertical integration and environmentally sustainable practices.
For more information about DMG Blockchain solutions, visit: www.dmgblockchain.com
Follow @dmgblockchain on Twitter and subscribe to DMG’s YouTube channel.
For further information please contact:
On behalf of the Board of Directors,
Sheldon Bennett, CEO and Director
Tel.: 516-222-2560
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
For Investor Relations:
investors@dmgblockchain.com
For media inquiries:
Chantelle Borrelli
Communications Manager
chantelle@dmgblockchain.com
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 press release.
Caution regarding forward-looking information
This press release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this press release include statements regarding upcoming conference presentations, DMG’s strategies and plans, the potential and benefits of the patent for the custom mempool protocol, the provision of products enabling the monetization of Bitcoin transactions, the development and execution of the Company’s products and services, the increase in self-mining, the launch of products and services, events, plans of action and the potential of the Company’s technology and operations, among others, are all forward-looking information.
Future changes in the Bitcoin network-wide mining difficulty rate or the Bitcoin hash rate may materially affect DMG’s future bitcoin production performance, and future operating results could also be materially affected by the price of bitcoin and an increase in the mining difficulty or hash rate.
Forward-looking statements include statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward-looking terminology such as “may,” “expect,” “estimate,” “anticipate,” “intend,” “believe,” and “continue” or the negative of these terms or similar variations. The reader is cautioned that assumptions used in preparing any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated, as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, including, but not limited to, market and other conditions; volatility in the price of the Company’s common stock; business, economic and capital market conditions; the ability to manage operating expenses, which may have an adverse effect on the Company’s financial condition; the ability to remain competitive as other, better-funded competitors develop and market competing products; regulatory uncertainties; access to equipment; market conditions and product demand and pricing; bitcoin demand and pricing; security threats, including loss/theft of DMG’s bitcoin; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and launch new products in a timely manner that meet customer needs; the ability to attract, retain and motivate qualified personnel; industry competition; the impact of technological changes on products and the industry; the inability to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and reliance on key personnel. DMG may not actually achieve its plans, projections or expectations. These statements and information are based on numerous assumptions about current and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, the absence of regulation or law preventing the Company from operating, anticipated costs, the ability to obtain sufficient capital to carry out its business plans, the ability to achieve its objectives and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG’s business. For more information regarding these and other risks and uncertainties, refer to the Company’s filings at www.sedarplus.ca. Further, DMG’s past financial performance may not be a reliable indicator of future performance.
Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain regulatory approval, continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain permits required to operate the business, the impact of technological changes on the industry, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, secure its equipment and employ personnel, competition, security threats, including bitcoin stolen from DMG or its customers, consumer sentiment toward DMG’s products, services and blockchain technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increased operating costs, increased equipment and labor costs, equipment failures, decline in the price of Bitcoin, the failure of counterparties to fulfill their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this press release speak only as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, the Company undertakes no obligation to comment on the expectations or statements made by third parties regarding the matters discussed above.
