DMG Blockchain Solutions Inc (DMGGF)

[PotterBanker]

DMG Announces Filing of Annual and Interim Financials, Requests Lifting Cease Trade Order & Appoints New Director

https://www.globenewswire.com/news-release/2019/05/14/1823762/0/en/DMG-Announces-Filing-of-Annual-and-Interim-Financials-Requests-Lifting-Cease-Trade-Order-Appoints-New-Director.html

VANCOUVER, British Columbia, May 14, 2019 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“DMG” or the “Company”), a diversified blockchain and cryptocurrency company, announces that it has filed its audited annual financial statements, management discussion and analysis and certifications (collectively the “Annual Filings”) as well as its financial statements, management discussion and analysis and certifications for the interim period ended December 31, 2018 (collectively the “Interim Filings”) and has applied to have its cease trade order lifted.

On February 1, 2019 a Cease Trade Order ("CTO") was imposed by the British Columbia Securities Commission (“BCSC”) and the Ontario Securities Commission ("OSC") for failure to file the Company’s Annual Filings for the financial year ended September 30, 2018, beyond the filing deadline of January 28, 2019. The Company’s prior auditors resigned the day before the Company was due to file its Annual Filings, which then required the Company to restart the audit process with a new audit firm causing delays in filing.

In accordance with the terms and conditions of the CTO, the Company filed its Annual Filings and Interim Filings on May 13, 2019 on www.sedar.com. The Company believes it has satisfied all of the terms and conditions of the CTO and has requested that it be lifted by the BCSC and the OSC.

As a result of the CTO, the TSX Venture Exchange (the "Exchange") suspended trading in the Company's securities effective February 1, 2019. The Company has applied to the Exchange for the reinstatement of trading of its common shares.

New Director

The Company is also pleased to announce the appointment of Neil Cave as an independent director of the Company. Neil Cave is currently Director of Legal and Corporate Affairs at the Young & Rubicam Group where he provides legal services to agencies in a global network that includes offices in Toronto, Seattle, and New York and forms part of the world’s largest advertising company. Previously he was Litigation Counsel at the B.C. Securities Commission where he enforced the Securities Act to protect the investing public, and an associate at Quinn Emanuel Urquhart & Sullivan in New York where his practice areas included securities fraud, antitrust, and patent litigation. He is a graduate of Harvard Law School and the University of Guelph.

The Company also announces Diana Mark as the Company’s Corporate Secretary. Mrs. Mark has over 30 years’ experience in corporate and regulatory compliance, specializing in acting as Corporate Secretary of public companies in a variety of industries. She has extensive experience with brokered and non-brokered financings, developing good corporate governance practices and assisting in maintaining strong boards.

Dan Reitzik, CEO of DMG stated: "DMG is pleased to release audited financials for the year ending September 30, 2018, and unaudited financials for the quarter ending December 31, 2018. The Company has weathered the challenging climate that has faced our industry during the past 18 months, and the tremendous investments made into DMG's BC facility infrastructure which have poised DMG to benefit from the recent increase in the price of bitcoin and the related demand for our hosting services.

"We are excited to have Neil Cave join DMG's Board of Directors. His legal background and previous experience at the BC Securities Commission will complement the Board as we continue to improve transparency and corporate governance in this new and exciting industry."

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About DMG Blockchain Solutions Inc.

DMG Blockchain Solutions Inc. is a diversified blockchain and cryptocurrency company that manages, operates and develops end-to-end solutions to monetize the blockchain ecosystem. DMG, with its Blockseer division located in Silicon Valley, intends to be the global leader in industrial scale crypto mine hosting – Mining as a Service (MaaS), crypto mining, blockchain forensics/analytics, and blockchain platform development.

For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com

On behalf of the Board of Directors,
Daniel Reitzik, CEO & Director


For further information, please contact:

DMG Blockchain Solutions Inc.
Investor Relations: John Martin
Toll Free: 1-888-702-0258
Email: [e-mail]
Web: www.dmgblockchain.com
Direct: 778-868-6470