Canada Markets open in 7 hrs 31 mins

Blockchain Foundry and Noteblock Partner to Develop Tokenized Real Estate Platform

TORONTO, May 30, 2019 (GLOBE NEWSWIRE) -- Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN)(8BF.F)(BLFDF), a leading North American blockchain development firm, has entered into the first phase of a blockchain development and marketing agreement (the “Agreement”) with Noteblock, a blockchain-based tokenized real estate lending firm based in Detroit, Michigan. Valued at C$170,000, the Agreement is for BCF to assist Noteblock with development, solution design, technical expertise, marketing and public relations for its project.

According to the Urban Institute, $1.75 trillion in new mortgages were originated in the United States in 2017. Noteblock is a blockchain powered platform that is set to disrupt this market by giving users the ability to originate, service and trade real estate backed loans by leveraging a secure, streamlined, user friendly peer-to-peer marketplace. Noteblock offers investors and borrowers the benefits of lower costs and extreme liquidity by cutting out costly third-party intermediaries.

"Noteblock chose Blockchain Foundry for lead development because they are highly experienced and some of the smartest people in the industry. We are excited to partner on this project and look forward to continuing our work together," said Justin Fata, Director of Business Development of Noteblock.

“Noteblock presents a solution to today’s tedious mortgage process and we are thrilled that they have chosen our firm to deliver the blockchain components of their project,” said Marc Nicholson, Chief Sales Officer of BCF.

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.

About Noteblock

Noteblock is a financial technology company based in Detroit, Michigan. Noteblock is focused on the development and commercialization of blockchain technology for the mortgage origination, brokering and servicing industry.

Blockchain Foundry Contact Information:

Christopher Marsh
Chief Financial Officer
(647) 330-4572
cmarsh@blockchainfoundry.co

Noteblock Contact Information:

Justin Fata
Director of Business Development
justin@noteblock.com

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR RELEASE, PUBLICATION OR DISSEMINATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

Forward-Looking Information

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.