KELOWNA, British Columbia, December 13, 2018
KELOWNA, British Columbia, December 13, 2018 /PRNewswire/ --
Hilltop Cybersecurity Inc, ("Hilltop" or the "Company") (CSE: CYBX) (OTC: CYBXF), is pleased to announce that further to its news release of Sept 6, 2018, it has entered into a definitive cyber-security agreement (the "Agreement") to license Hilltop products as well as provide cyber-security services for Island Mining SEZC in its Cayman Islands headquarters as well as Japan, Canada and in other areas that it will operate. The transaction consists of a CAD$1,250,000 master license and a follow-on white label agreement to be entered into 30 days after customer acceptance has been completed for the Hilltop cryptoKEEP solution. Chris Filitrault of Island Mining stated: "We have been working on the 7nm chip for some time with our partners and we are excited to bring the bigger picture to light finally. We searched the market and determined that CYBX's products and strategy were a good fit to ensure we create robust, proactive security as part of our operating paradigm rather than an after-thought."
Corby Marshall, CEO of Hilltop, said, "Japan represents a unique opportunity and exhibits thought-leadership in the crypto-mining space. We are excited to be partnered with Island Mining whom we are confident, with its access to this new 7nm proprietary chip, and significant Japanese partners will emerge as a leader in the crypto-mining space. We see this transaction as a validation of Hilltop's technology and our sales strategy. It's notable that Island Mining and its CEO have the foresight to recognize that crypto-mining without basic security is not an optimal strategy."
About Island Mining SEZC
About Island Mining - Island Mining, its partners and providers are leaders in 7nm ASICS chips which will significantly improve the hash rate for the next generation of cryptocurrency mining. Island Mining's CEO Christopher Filiatrault's deep connections with Japan have enabled the creation of Made in Japan crypto-mining hardware. Island Mining works exclusively with Japanese engineers to create leading edge technology for cryptocurrency markets. Island Mining has agreements with companies in Japan that allow it to access these new 7nm ASICS chips.
About Hilltop Cybersecurity
Hilltop Cybersecurity (CSE: CYBX) (OTC: BGGWF) is a cybersecurity and cryptocurrency security specialist. The Company has developed a unique, patented, cybersecurity platform, designed to protect businesses from external and internal cyber attack, and has also patented its biometric security solution for crypto-currencies.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information based on current expectations. Statements about the 7nm chip, the Company and Island Mining's plans and intentions, potential transactions, courses of action, and the potential of the technologies, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of products and services; security threats; Hilltop's ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. Hilltop may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. The securities of Hilltop are considered highly speculative due to the nature of Hilltop's business. Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, competition, security threats, consumer sentiment towards Hilltop's products, services and blockchain technology and cryptocurrency generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in labor costs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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