TORONTO and PARIS, Jan. 03, 2019 (GLOBE NEWSWIRE) -- Blockchain Foundry Inc. (“Blockchain Foundry” or “BCF”) (CSE:BCFN) (8BF.F) (BLFDF) and ARCHOS S.A. (“ARCHOS”) (EPA:JXR) are pleased to announce a strategic partnership covering blockchain hardware solutions and related software infrastructure (the “Agreement”). Pursuant to this partnership, BCF will become the exclusive North American distributor of the ARCHOS SAFE-T range of hardware cryptocurrency wallets and blockchain secured solutions.
ARCHOS recently announced the development of the SAFE-T Touch, a ground-breaking innovation in the hardware wallet segment. The SAFE-T Touch offers a highly secure hardware wallet platform, embedding a trusted execution environment incorporating ProvenCore technology from Prove & Run S.A.S., a leading European software security firm. This focus on security, combined with a user-friendly mobile wallet interface, provides SAFE-T Touch users with the best of both worlds; a highly secure environment that is also convenient and easy to use.
In consideration of the Agreement, BCF will grant ARCHOS 3.7 million common shares, representing approximately 5% of the outstanding shares of BCF. In addition, ARCHOS may be entitled to cash or share-based consideration of up to 10% of the gross revenue earned by BCF from ARCHOS products during 2019, based upon milestones including the appointment of BCF as ARCHOS’ preferred partner for blockchain development services. The Agreement and strategic partnership are arm’s length.
“The BCF team has been developing products and services for blockchain since 2012. We are impressed by ARCHOS’ strategy and believe that its developments are setting new standards for hardware wallets, which are key to building a secure blockchain environment. BCF’s dedicated sales and marketing team will be actively targeting North American cryptocurrency asset holders and the cryptocurrency community in order to promote these innovative products and associated services platforms,” stated Dan Wasyluk, CEO of Blockchain Foundry.
“This partnership is a key milestone for ARCHOS in the development of its Blockchain solutions. BCF’s track-record in Blockchain technology is impressive, including the creation of the Syscoin Platform and important B2B blockchain services developments like Blockmarket Desktop 3.0., a decentralized marketplace and cryptocurrency wallet. The team is highly efficient, user centric and motivated. They are recognized in the crypto community and are long term advocates of the benefits of hardware wallets and their vast use cases. Becoming a shareholder of BCF is important as it structures the partnership for the long term,” added Loic Poirier, CEO of ARCHOS.
ARCHOS, a pioneer in consumer electronics, continues to innovate and revolutionize the consumer electronics market. Among others, the French manufacturer was first with an HDD MP3 player in 2000, a multimedia player in 2003, Google Android powered tablets in 2009, a connected Smart Home in 2014 and PicoWAN, the first collaborative network dedicated to the IoT, in 2016. Today, ARCHOS designs and democratizes solutions with high innovation value in three segments: mobile solutions, AI, blockchains. With headquarters in France, offices in Europe and in Asia, ARCHOS is a strong pan-European player. ARCHOS is quoted on Compartment C of Eurolist, Euronext Paris, ISIN Code: FR0000182479.
About Blockchain Foundry
Blockchain Foundry Inc. develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology into their businesses.
Press contacts at Blockchain Foundry:
Christopher Marsh – firstname.lastname@example.org - + 1 (647) 330-4572
Certain portions of this press release contain “forward-looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward-looking statements”, which may not be based on historical fact. Wherever possible, words such as “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” “could,” “would” or might, and the negative of such expressions or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, have been used to identify forward looking information.
Forward looking statements should not be read as guarantees of future events, future performance or results, and will not necessarily be accurate indicators of the times at, or by which, such events, performance or results will be achieved, if achieved at all. Readers should not place undue reliance on such forward-looking statements, as they reflect management’s current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by BCF are inherently subject to significant business, economic, regulatory, competitive, political and social uncertainties and contingencies. Many factors could cause BCF’s actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements.
Although BCF has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: unanticipated sales results, failure to meet milestones in a timely manner; changes in laws; limited operating history of BCF; reliance on management of BCF; requirements for additional financing; competition in North American and globally; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. BCF disclaims any intention or obligation to update or revise such information, except as required by applicable law, and BCF does not assume any liability for disclosure relating to any other company mentioned herein.