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Blockchain Foundry Announces Change in Financial Year End and Auditor Resignation

TORONTO, Nov. 28, 2019 (GLOBE NEWSWIRE) -- Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN)(8BF.F)(BLFDF), a leading North American blockchain development firm, is changing its financial year end from September 30th to December 31st. As a result, BCF will file an additional interim report as at September 30, 2019 and will report audited financial results for a 15-month transition year from October 1, 2018 to December 31, 2019 (with a comparative of the 12 months ended September 30, 2018). Afterwards, BCF will revert to a customary reporting calendar based on a December 31 year-end, with fiscal quarters ending on the last day of March, June, September and December each year.

BCF believes this change of financial year-end will allow investors to more easily compare its results to its peers and will be useful to consolidate other companies in the future, if required.

The notice for the change in financial year-end required under Regulation 51-102 respecting Continuous Disclosure Obligations will be filed under the Company’s profile at www.sedar.com.

In addition, the Company has received notice from its auditor, BDO Canada LLP, that BDO is resigning as auditor due to the Company holding cryptocurrency assets on its balance sheet. BCF is currently engaged in discussions with other audit firms and does not expect that it will have difficulty filing its audited financial results by April 29, 2020.

About Blockchain Foundry Inc.

Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(8BF.F)(BLFDF) is a global blockchain consulting and development firm. BCF develops and commercializes decentralized ledger technology, custom blockchain solutions and smart contracts for enterprise clients.

Blockchain Foundry Contact Information:

Chris Marsh
President & Chief Financial Officer
(647) 330-4572
cmarsh@blockchainfoundry.co

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