The Board considered the skills and experience of Messrs. Scalia and Armstrong and is confident the changes to the leadership team will enable the Company to pursue its long-term strategic objectives with new guidance and vision. The new leadership will report to the Board and will be jointly responsible for the overall management and operation of the Company.
Messrs. Scalia and Armstrong join Fortress from Galaxy Digital (“Galaxy”), a diversified financial services firm dedicated to the digital assets sector. While at Galaxy, Messrs. Scalia and Armstrong held various roles across the firm’s investment banking and principal investments divisions, and most recently as founding members of Galaxy’s bitcoin mining business. Prior to joining Galaxy,
“Drew and I are tremendously excited to be joining Fortress and are motivated by the opportunity ahead of us. Bitcoin promises to advance human freedom around the world; as stewards of the Company, we will strive to contribute to that worthy cause while delivering results for our shareholders,” said
Management and Directors join Chairman of the Board
Fortress wishes to thank
The Company also announces that it has granted options to acquire a total of 650,000 common shares of the Company to Messrs. Scalia and Armstrong at the exercise price of
Asset Purchase Agreement
The Company also announces that it has entered into an agreement with AJ Scalia and
About
Fortress believes sound money and cheap, abundant energy are the fundamental ingredients to human progress, and is committed to advancing both by working closely with the energy sector to secure the Bitcoin network. Today, Fortress owns 72 PH/s across three sites in
For further information, please contact:
Chief Financial Officer
604 477 9997
ir@fortressblockchain.io
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the
Forward-Looking Statements
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company, are forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions and future actions of senior management, the intentions, plans and future actions of the Company, as well as the Company’ ability to successfully mine digital currency; revenue increasing as currently anticipated; the ability to profitably liquidate current and future digital currency inventory; volatility of network difficulty and, digital currency prices and the resulting significant negative impact on the Company’s operations; the construction and operation of expanded blockchain infrastructure as currently planned; and the regulatory environment of cryptocurrency in applicable jurisdictions.
Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
Source:
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