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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  DigitalTown, Inc.    DGTW

DIGITALTOWN, INC. (DGTW)
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UPDATE -- Austin.city Open for Business

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01/03/2018 | 08:47pm CEST

AUSTIN, Texas, Jan. 03, 2018 (GLOBE NEWSWIRE) -- With the opening of SXSW just over 2 months away, DigitalTown, Inc. (OTC PINK:DGTW), the leading provider of People-centric Solutions for Smart Cities, is pleased to announce the launch of Austin.city, a groundbreaking platform cooperative where residents and visitors improve quality of life in Austin as they search, connect, share and shop locally, transacting directly with local merchants.

With the introduction of Austin.city, residents of Austin have their very own Google, Expedia, AirBnB, OpenTable, PayPal and Bitcoin, all in one, accessible 24/7 via the Austin.city web portal and mobile application. Best of all, Austin.city can be owned by Austinites through the distribution and sale of CityShares, a Blockchain-based solution for managing shared ownership of city cooperatives.

Starting today, residents are able to claim their free CityShares -- ownership stakes of the Austin City platform. The free CityShare claim is scheduled to end on January 31, 2018. The free CityShares are limited to 10 shares for each legal resident of the Austin–Round Rock metropolitan statistical area, last reported at 2,056,405 as of July 1, 2016. Unclaimed CityShares are also available for purchase while they last.

Austin merchants are able to sign up for a free storefront. There are no setup fees, no service fees, and no requirement for a conventional bank account or merchant account. Merchants simply pay a low commission on actual sales, thereby making it easy for merchants of all sizes to be accessible via web and mobile. Verified merchants have the option of redeeming sale proceeds to major cryptocurrencies such as Bitcoin.

Rob Monster, CEO of DigitalTown commented on the announcement, explaining “AirBnB and Uber have shown the world the power of the Sharing Economy to tap the productive capacity of individual citizens in a community. Blockchain, and in particular Bitcoin, has shown the world the power of distributed ledgers as an efficient medium of exchange. RideAustin showed Austinites that it is possible to keep it local. With Austin.city we are making it easier than ever for residents and visitors to search local, shop local and think local.”

In November 2017, DigitalTown announced the acquisition of Austin-based technology developer Congo Ltd and the establishment of local presence in Austin, operating out of Capital Factory in downtown Austin and led by Frank Robles.  "I am excited to invite my fellow Austinites to visit Austin.city and join our quest to keep Austin weird, as we show the world what is possible in the Digital Age. I believe the effective use of DigitalTown’s Technology will help Austin to continue to differentiate itself while providing sustainable benefits for all stakeholders,” added Frank Robles, VP Operations.

To claim a CityShare in Austin.city, residents of the Austin metropolitan area should visit Austin.city, click on “CityShares”, and complete the free claim. To find out more about DigitalTown, visit DigitalTown.com or download the DigitalTown Smart City App on iOS or Android.

About DigitalTown
Austin.city is a service of DigitalTown.  DigitalTown, Inc. (DGTW) powers Smart Cities to succeed in the Digital Age. The company provides turn-key hosted solutions to power "Digital Towns", which improve Quality of Life for residents and visitors through locally owned solutions for economic development, civic engagement and digital inclusion for cities around the world. For more information about the company, please visit www.digitaltown.com.

Safe Harbor Language: Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act 1995. Readers are cautioned not to place undue reliance on forward-looking statements. DigitalTown, Inc. undertakes no obligation to update any such statements to reflect actual events.

Media Contacts:

Rob Monster, CEO                 
(425) 295-4564; rob@digitaltown.com

Frank Robles, VP Operations                           
512-900-2428; frank@austin.city 

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© GlobeNewswire 2018
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Managers
NameTitle
George Nagy Director, Chief Executive & Operating Officer
Darvin R. Habben Chairman
Dave Carter Chief Financial Officer
Jeffrey L. Mills Secretary & Director
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