Neptune Dash Announces Corporate Strategy Update
November 12 2020 - 6:00AM
Neptune Dash Technologies Corp. (“Neptune” or the “Company”)
(TSX.V:DASH) (OTC:NPPTF) (FSE:1NW) is pleased to provide an update
on corporate strategy.
Over the last 6 to 12 months, Neptune has
commenced a methodical diversification strategy into other top
market cap tokens dominated by Bitcoin and Cosmos ATOM. In order to
remove the risk of a single token and take advantage of the
exciting DeFi space which now shows tremendous potential to
generate income on tokens other than DASH, the Company felt it is
advantageous to hold a portfolio of cryptocurrencies, mainly
Bitcoin, Cosmos ATOM and of course DASH. As of the date of this
news release, the Company has substantially decreased its DASH
token holdings to 6 Masternodes, much of the DASH tokens were
traded for BTC which are earning 6.5% per annum substantially more
than DASH in the form of Masternodes, and at a lower cost. Cosmos
ATOM holdings remain staked and are earning upwards of 9% per annum
which is periodically reinvested. The cryptocurrency market is a
rapidly evolving environment and as such, in order to remain
relevant and in growth mode, the Company must constantly adapt and
change with the environment. The Company also holds several other
cryptocurrencies including Fantom, Ethereum, Litecoin, Stellar,
NEO, Omisego and QTUM.
The Company has invested $250,000 USD of our
DASH holdings into Protocol Ventures Quant, a multi-strategy, quant
driven digital asset hedge fund with a suite of market neutral,
buy/hold, DeFi yield farming and HFT/market making strategies aimed
at delivering superior risk adjusted returns. In a highly volatile
and dynamically evolving emerging asset class like cryptocurrency,
we believe that active management by a Silicon Valley based team of
veteran fund managers with domain specific expertise,
disproportional access to deal flow and successful track records in
cryptocurrency dating back to 2013, adds smart, complementary
exposure to our existing holdings. The Protocol Ventures Quant team
is led by Harry Yeh, Nabeel Qadri and Rick Marini, a team with a
combined three prior crypto funds under management, three
successful company exits, and 25+ years of experience in Silicon
Valley. The Company expects to continue to add to it’s investment
with Protocol
“We are extremely pleased with the performance
of Bitcoin over the last 6 months proving the move from DASH to BTC
many months ago to be a valuable one. We see a bright future for
cryptocurrency market and we will continue to optimize, diversify
and stake assets in order to maximize revenues and gains for
shareholders. We will focus on remaining the lowest cost and
perhaps the only, diversified, publicly traded cryptocurrency
Company on the TSX-V. We truly appreciate our shareholders and
thank them for staying onboard over the last few years as the
cryptocurrency market matures and develops,” stated Cale Moodie,
the Company’s CEO.
About Neptune Dash Technologies
Corp.
Neptune primarily invests in blockchain related
technologies and tokens. Neptune Stake is a wholly owned subsidiary
of Neptune and adds diversification to the Company’s cryptocurrency
portfolio by investing in Proof of Stake tokens and their
associated blockchain technologies.
For further information please
contact:
Neptune Dash Technologies Corp.Cale Moodie, President and
CEOPhone: (604) 319-6955 Email: info@neptunedash.com
Neither 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 release contains certain “forward looking
statements” and certain “forward-looking information” as defined
under applicable Canadian securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as “may”, “will”, “expect”,
“intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”
or similar terminology. Forward-looking statements and information
include, but are not limited to, the continued success of the
Company’s pooling service and anticipated revenues from such
services; the value of the Company’s digital currency inventory;
the business goals and objectives of the Company, and information
concerning the intentions, plans and future actions of the parties
to the transactions described herein and the terms thereon.
Forward-looking statements and information are based on forecasts
of future results, estimates of amounts not yet determinable and
assumptions that, while believed by management to be reasonable,
are inherently subject to significant business, economic and
competitive uncertainties and contingencies. Forward-looking
statements and information are subject to various known and unknown
risks and uncertainties, many of which are beyond the ability of
the Company to control or predict, that may cause the Company’s
actual results, performance or achievements to be materially
different from those expressed or implied thereby, and are
developed based on assumptions about such risks, uncertainties and
other factors set out here in, including but not limited
to: the inherent risks involved in the
cryptocurrency and general securities markets; the Company’s
ability to successfully mine digital currency; revenue of the
Company may not increase as currently anticipated, or at all; the
Company may not be able to profitably liquidate its current digital
currency inventory, or at all; a decline in digital currency prices
may have a significant negative impact on the Company’s operations;
the volatility of digital currency prices; uncertainties relating
to the availability and costs of financing needed in the future;
the inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, currency fluctuations;
regulatory restrictions, liability, competition, loss of key
employees and other related risks and uncertainties. The Company
undertakes no obligation to update forward-looking information
except as required by applicable law. Such forward-looking
information represents management’s best judgment based on
information currently available. No forward-looking statement can
be guaranteed and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information.
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