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    CWRK   US23131W1036

CURRENCYWORKS INC.

(CWRK)
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CurrencyWorks Responds To OTC Markets Request On Recent Promotional Activity - Specifically With Respect to Penny Picks Promotional Material Distributed on December 3, 2020

12/08/2020 | 04:40pm EDT

Los Angeles, Dec. 08, 2020 (GLOBE NEWSWIRE) -- CurrencyWorks Inc. (“CurrencyWorks” or the “Company”) (TSXV and OTCQB: CWRK), a publicly-traded company that builds and operates FinTech platforms for Digital Currencies, Security Tokens and Digital Assets that are designed to reduce operational costs, increase transactions plus liquidity and drives user engagement, announces that, at the request of OTC Market, it confirms that the Company’s management is unaware of any material change in the Company’s operations that would account for the recent increase in market activity. The Company further confirms it was not aware of the promotional material that had been circulated by Penny Picks on December 3, 2020 until the OTC Markets brought it to the Company’s attention the same day.

In addition, the Company also confirms the following:

  • The Company is not aware of any promotional activities initiated by the Company, the management or its officer (s) and the Company is not in a position to comment on any effect on any third-party promotional material that is not under the Company’s control or direction.
    • However, the Company was made aware of a promotional material that was distributed by Penny Picks on December 3, 2020.
    • The Company was made aware of this promotional material by the OTC Markets on December 3, 2020 and at the specific request of the OTC Markets the Company is making this press release.
  • The Company or its officers (s) are not involved directly or indirectly, with the creation, distribution, or payment of any promotional materials.
  • Comments made in any promotion materials may not be completely true or accurate and should not be relied on. Company recommends to only use materials filed on EDGAR and any official Press Releases that the Company disseminates.
  • The Company after inquiring of its management, its officers, any controlling shareholders (defined as shareholders owning 10% or more of the Company’s securities), or any third-party service providers engaged and paid by the Company, now confirms that none of these groups have been involved in any way with the creation, distribution or payment of promotional materials related to the Company and its securities.
  • The Company confirms after inquiring with its management, its officers, directors and any controlling shareholders that none of them have sold or purchased the Company’s securities within the past 90 days.
  • The Company currently does not have any third-party providers engaged by the Company to provide investor relation services, public relation services, marketing or any other related services including promotional services of the Company or its securities over the past twelve months.
  • The Company has not at any point issued shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuances.
    • However, the Company has the following convertible notes outstanding and balances as at September 30, 2020 are as follows: 1) Principle amount of $175,325 plus interest up to September 30, 2020 of $102,054 for a total of $277,379 at a conversion price of $0.03 per share and 2) Principle amount of $250,000 plus interest up to September 30, 2020 of $73,014 for a total of $323,014 at a conversion price of $0.10 per share.

About CurrencyWorks

CurrencyWorks Inc. (TSX: CWRK and OTCQB: CWRK) is a publicly-traded company that builds and operates FinTech platforms for Digital Currencies, Security Tokens and Digital Assets that are designed to reduce operational costs, increase transactions plus liquidity and drives user engagement.

For more information on CurrencyWorks, please visit us at: www.currencyworks.io. For additional investor info visit www.currencyworks.io or www.sedar.com and www.sec.gov searching CWRK.

Media Contact
Arian Hopkins
arian@currencyworks.io

Company Contact
Bruce Elliott, President
Phone: 424-570-9446
Bruce.elliott@currencyworks.io

Investor Inquiries
Phone: 424-570-9446 ext. 8
ir@currencyworks.io

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.


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© GlobeNewswire 2020
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Financials (USD)
Sales 2020 0,19 M - -
Net income 2020 -4,01 M - -
Net Debt 2020 1,43 M - -
P/E ratio 2020 -4,03x
Yield 2020 -
Capitalization 45,1 M 45,1 M -
EV / Sales 2019 11,6x
EV / Sales 2020 85,3x
Nbr of Employees 2
Free-Float 93,0%
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Income Statement Evolution
Managers and Directors
Bruce Elliott President & Chief Executive Officer
Swapan Kakumanu Chief Financial Officer, Secretary & Treasurer
Cameron Chell Non-Executive Chairman
James P. Geiskopf Lead Independent Director
Edmund C. Moy Independent Director
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