The Company's total Ethereum staking balance now consists of over20,480 Ether, currently worth approximately
The Company intends to stake at least 30,000 of its Ether balance,which represents over 65% of its total Ether balance, to staking prior to themerger of Ethereum's current mainnet into Ethereum's Beacon Chain (the'Merge'). The Merge is currently expected to occur later in 2022.
In addition, the Company is announcing the divestment of anadditional 766 Maker tokens ('MKR') for gross proceeds of approximately
Excluding any staking rewards to-date, the Company's current Etherbalance is 44,061, reflecting a market value of approximately
'We are thrilled to announce that we are now staking over 20,000Ether and are well on the path to staking a majority of our Ether balance inthe coming months,' said CEO
About
The content of this document is for informationalpurposes only, and is not being provided in the context of an offering of anysecurities described herein, nor is it a recommendation or solicitation to buy,hold or sell any security. The information is not investment advice, nor is ittailored to the needs or circumstances of any investor. Information containedon this document is not, and under no circumstances is it to be construed as,an offering memorandum, prospectus, advertisement or public offering ofsecurities. No securities commission or similar regulatory authority hasreviewed this document and any representation to the contrary is an offence.Information contained in this document is believed to be accurate and reliable,however, we cannot guarantee that it is complete or current at all times. Theinformation provided is subject to change without notice and neither
Non-GAAP Measures
The Company's condensed consolidated financialstatements are prepared in accordance with International Financial ReportingStandards ('IFRS'). The Company refers to the gross value of its assets and thegross value per basic common share, which are non-GAAP financial measures.These non-GAAP measures are not defined by IFRS, do not have a standardizedmeaning and may not be comparable with similar measures presented by otherissuers. The Company has presented such non-GAAP measures as managementbelieves they are relevant measures of the value of the Company's underlyingassets. Non-GAAP measures should not be considered as alternatives to theinformation set out in the Company's financial statements.
Forward-Looking Information
This press release contains'forward-looking information' within the meaning of applicable Canadiansecurities legislation. Forward-looking information includes, but is notlimited to, statements in regard to the Ethereum ecosystem. The Companycautions the reader not to place undue reliance upon any such forward-lookingstatements, which speak only as of the date they are made. Generally, but notalways, forward-looking information can be identified by the use offorward-looking terminology such as 'plans', 'expects' or 'does not expect','is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'onpace', 'anticipates', or 'does not anticipate', 'believes', and similarexpressions or state that certain actions, events or results 'may', 'could','would', 'should', 'might', or 'will' be taken, occur or be achieved.
Forward-looking statements are based oninformation available to management at the time they are made, management'scurrent plans, estimates, assumptions, judgments and expectations.Forward-looking information is subject to known and unknown risks,uncertainties and other factors that may cause the actual results, level ofactivity, performance or achievements of the Company to be materially differentfrom those expressed or implied by such forward-looking information. Such risksand uncertainties include, but are not limited to: general business, economic,competitive, geopolitical, technological and social uncertainties;uncertainties in regard to the development and acceptance of blockchaintechnology (including proof of stake and Ethereum 2.0), and the Ethereumplatform and anticipated timing and impact of the Ethereum network upgrade, theimpact of the outbreak of the COVID-19 coronavirus on the Company, and theother risk factors discussed in the Company's Annual Information Form datedMarch 25, 2021, the Risk Factors section in its most recently filedmanagement's discussion and analysis, the Risk Factors section in its Supplementand Base Shelf Prospectus and its other filings available on-line atwww.sedar.com. Although the forward-looking information contained in this pressrelease is based on assumptions that the Company believes to be reasonable atthe date such statements are made, there can be no assurance that the forward-lookinginformation will prove to be accurate, as actual results and future eventscould differ materially from those anticipated in such forward-lookinginformation. In addition, the Company cautions the reader that information providedin this press release is provided in order to give context to the nature ofsome of the Company's future plans and may not be appropriate for otherpurposes. Accordingly, readers should not place undue reliance onforward-looking information. The Company does not undertake to update or reviseany forward-looking information, except in accordance with applicablesecurities laws.
Contact:
BrianMosoff
Chief Executive Officer
E: Brian@ethcap.co
Director of Communications
E: Ashley@ethcap.co
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