VANCOUVER, British Columbia, Feb. 12, 2021 (GLOBE NEWSWIRE) -- Neptune Digital Assets Corp. (TSX-V:NDA) (OTC:NPPTF) (FSE:1NW) (“Neptune” or the "Company") is pleased to announce that the Company is now trading on the TSX-V under the symbol “NDA”.
The Company is extremely pleased with the performance of our key holdings over the previous months. Bitcoin, ATOM, Ethereum, Fantom, and Dash continue to advance their projects which is directly reflected in their massive price appreciation, a true testament to the diversified strategy at Neptune.
Neptune’s top 5 crypto holdings have rallied as much as 500%+ since our last corporate update, see below:
January 22nd, 2021
February 11th, 2021
Increase in value
The Company continues to dollar cost average into top tokens which have been deemed as outperformers by Neptune. The focus remains on providing low-cost diversified exposure to cryptocurrency and the earnings they provide in their respective ecosystems.
“We are pleased with the substantial rise in the value of our asset base over the last month. Our alt coin selections have done astoundingly well and all our holdings continue to grow in both quantity and value. Our stock ticker now more accurately represents the nature of Neptune’s business as we move forward in this exciting space. We anticipate a highly profitable second quarter ending February 28, 2021 if we remain on this current trajectory,” stated Cale Moodie, Neptune CEO.
The Company is also pleased to announce that Alumina Partners LLC (“Alumina”) has agreed to draw-down from the previously announced draw-down equity facility. Upon completion of this drawdown, the Company will issue Alumina 1,500,000 units at a price of CAD$0.175 per unit for an aggregate gross proceeds of CAD$262,500, with each unit comprised of one common share and one transferable common share purchase warrant entitling the holder to purchase one common share at a price of $0.294 for a period of three years from the issue date. The securities will be subject to a four month and one day hold period under applicable securities laws and the transaction remains subject to final approval from the TSX-V.
The Company intends to use the proceeds from the private placement for strategic cryptocurrency acquisitions.
About Neptune Digital Assets Corp.
The Company has a diversified cryptocurrency portfolio with investments made in top market cap tokens, proof-of-stake cryptocurrencies, decentralized finance and associated blockchain technologies.
ON BEHALF OF THE BOARD
Cale Moodie, President and CEO
Neptune Digital Assets Corp.
This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”, “proposes” or similar terminology. Forward-looking statements and information include, but are not limited to, the completion of the private placement with Alumina; the approval by the TSX-V of the private placement with Alumina; the future prices of crypto currency and their likelihood of staying constant or climbing higher; the Company’s future earnings and operating costs; the Company’s future growth in total assets; the Company’s strategy to purchase crypto currency and optimize its crypto portfolio; the Company’s ability effectively dollar cost average its purchases of crypto currency; and the future outlook of the crypto currency market generally. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the inherent risks involved in the cryptocurrency and general securities markets; the Company’s ability to successfully mine digital currency; revenue of the Company may not increase as currently anticipated, or at all; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.