NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Aim Explorations Ltd. (TSX-V:AXN.H) ("
AIM" and/or
the "
Company"), a capital pool company, is pleased
to announce that its qualifying transaction target, DMG Blockchain
Solutions Inc. ("
DMG"), recently launched a
bitcoin mining model, Mining-as-a-Service
("
MaaS"), at the annual Bitmasters Conference in
Kobe, Japan, attended by more than 1,500 members of the Bitmasters
network. The Bitmasters network is comprised of tens of thousands
of members who are bitcoin owners and influencers, many of whom are
personally interested in mining bitcoin, in addition to buying via
traditional bitcoin exchange channels.
DMG’s Chief Executive Officer, Dan Reitzik
commented, "Our partnership with the Bitmasters network, and its
position in Japan, the world’s largest and most regulated bitcoin
market, provides DMG an opportunity to scale quickly and on a
priority basis. By enabling our customers to mine their own
bitcoin in a clear and transparent manner, I believe we have the
right offering at the right time. The Japanese demand remains
strong and we plan to address the broader global market in short
order."
MaaS adopts a unique model by democratizing the
ability for anyone to become a cryptocurrency miner anywhere in a
cost-effective manner. DMG’s MaaS offering provides turn-key
operations for clients by charging a simple and low cost set-up and
monthly hosting fee. Customers may purchase their dedicated assets
and their resulting monthly bitcoin output is delivered to them
directly.
DMG’s team recently presented and announced the
launch of MaaS in Kobe, Japan at the annual Bitmasters Conference.
MaaS interest from the Bitmasters network was strong and DMG
received an order in excess of CAD$3 million for the hardware
purchase and set-up, with monthly recurring hosting revenues to
begin upon completion.
Subscriber demand for MaaS from the Bitmasters
network is expected to be met by DMG in the Spring of 2018.
Most of the servers will be hosted at DMG's new industrial mining
facility, which is comprised of a 27,000 square foot building on 34
acres of land in Western Canada. DMG has the ability to expand the
hosting center with containers or new buildings by an additional
75,000 square feet to accommodate additional demand, subject to
obtaining the necessary permits.
DMG anticipates that its facilities and power
access will be for its MaaS clients, and for DMG’s own use. This
hybrid model allows DMG to scale at a faster pace and without as
much capital, while at the same time enabling DMG to benefit from
the appreciating value of bitcoin. This hybrid model balances out
the capital requirements in the traditional mining model with the
benefits of the value of bitcoin minted.
Kiyoshi Nishi, the Chief Executive Officer of
the Bitmasters network, commented, "Bitmasters’ members have been
buying bitcoin for more than four years and we are tremendously
excited to be able to mine bitcoins for ourselves. The Bitmasters
network decided to work with DMG after extensive due diligence into
other companies around the world. We look forward to introducing
our members to DMG’s MaaS model."
See AIM's news release dated December 4, 2017
for further information about AIM, DMG and the previously announced
qualifying transaction (the "Transaction"). AIM
will issue additional news releases related to the Transaction and
related financings and other material information as it becomes
available. There can be no assurance that the Transaction will be
completed as proposed or at all.
About DMG
DMG Blockchain Solutions Inc. is a full service
blockchain and cryptocurrency company that manages, operates and
develops end-to-end solutions to monetize the blockchain ecosystem.
DMG intends to be the global leader in bitcoin mining hosting,
Mining as a Service (MaaS), and diversified blockchain platform
development.
For further information please contact:
DMG Blockchain Solutions
Inc.Investor Relations: John Martin Toll Free:
1-888-702-0258Email: info@dmgblockchain.comWeb:
www.dmgblockchain.comDirect: 778-868-6470
Geoff Balderson, Chief Executive Officer
of Aim Explorations Ltd. Phone: 604-602-0001
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
described herein in the United States. The securities described
herein have not been registered under the United States Securities
Act of 1933, as amended (the “U.S. Securities Act”), or any state
securities law and may not be offered or sold in the “United
States”, as such term is defined in Regulation S promulgated under
the U.S. Securities Act, unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration requirements is available.
Cautionary Note Regarding
Forward-Looking Information
Completion of the Transaction is subject to a
number of conditions, including but not limited to, Exchange
acceptance and, if applicable, pursuant to the requirements of the
Exchange, shareholder approval. There can be no assurance that the
Transaction or the Offering will be completed as proposed or at
all.
Investors are cautioned that, except as
disclosed in the filing statement to be prepared in connection with
the Transaction, any information released or received with respect
to the Transaction may not be accurate or complete and should not
be relied upon. Trading in the securities of a capital pool company
should be considered highly speculative.
Trading in the common shares of the Company has
been halted in accordance with the policies of the TSX Venture
Exchange and will remain halted until such time as all required
documentation has been filed with and accepted by the Exchange and
permission to resume trading has been obtained from the Exchange.
All information in this news release concerning DMG has been
provided for inclusion herein by DMG. Although AIM has no knowledge
that would indicate that any information contained herein
concerning DMG is untrue or incomplete, AIM assumes no
responsibility for the accuracy or completeness of any such
information.
The TSX Venture Exchange has in no way passed
upon the merits of the proposed Transaction and has neither
approved nor disapproved the contents of this press
release.
Certain statements in this press release are
forward-looking statements, which include completion of the
proposed Transaction and related financing, the acquisition of more
customers from the Bitmasters network, the expansion on any
facilities, the allocation of resources to Maas and DMG’s own
bitcoin mining, the completion of any transaction including hosting
contracts with potential customers, development of technologies,
future plans, regulatory approvals and other matters.
Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Such
information can generally be identified by the use of
forwarding-looking wording such as “may”, “expect”, “estimate”,
“anticipate”, “intend”, “believe” and “continue” or the negative
thereof or similar variations. The reader is cautioned that
assumptions used in the preparation of any forward-looking
information may prove to be incorrect. Events or circumstances may
cause actual results to differ materially from those predicted, as
a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company,
including but not limited to, business, economic and capital market
conditions, the ability to manage operating expenses, security
threats, and dependence on key personnel. Such statements and
information are based on numerous assumptions regarding present and
future business strategies and the environment in which the Company
will operate in the future, including the demand for its products
and services, the ability to receive any necessary permits to
operate its business and expand facilities, that there will be no
regulation or law that will prevent DMG from operating its
business, the ability to successfully develop software, anticipated
costs, the ability to achieve goals on time and on budget, and the
price of bitcoin.
Factors that could cause the actual results to
differ materially from those in forward-looking statements include,
failure to obtain regulatory approval, the continued availability
of capital and financing, equipment failures, failure to obtain any
permits required to operate the business, the impact of technology
changes on the industry, competition, security threats including
stolen bitcoins from DMG or its customers, consumer sentiment
towards DMG’s products, services and blockchain technology
generally, failure to develop new and innovative products,
litigation, increase in operating costs, failure of counterparties
to perform their contractual obligations, government regulations,
loss of key employees and consultants, and general economic, market
or business conditions. Forward-looking statements contained in
this news 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 are made as of the date of this press release.
Except as required by law, AIM 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. Additionally, AIM undertakes no obligation to
comment on the expectations of, or statements made by, third
parties in respect of the matters discussed above. DMG may not
actually achieve its plans, projections, or expectations. Given the
foregoing risks, uncertainties and assumptions, you should not
place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
(Not for dissemination in the United
States of America)
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