TORONTO, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Matador Technologies Inc. ("Matador” or the "Company”) wishes to issue a correction related to its previously announced press release dated December 12, 2024, (the "Release") in which the Company indicated it is focusing on digitizing real-world assets on the Bitcoin blockchain, and strategically deploying Bitcoin into other high potential projects building on top of the Bitcoin network.
While Matador believes in the potential of utilizing blockchain for data management, scalability, and to incentivize young buyers to participate in the gold market, it has no definitive plans to adopt digitized assets in its service offerings or build on top of the Bitcoin network at this present time, other than in its proprietary application for the purchase and sale of gold.
Matador's focus at the present time remains the development of its proprietary application for the purchase and sale of gold, as disclosed in its filing statement dated November 29, 2024, (the "Filing Statement") which continues to be on target for launch in early 2025. At current, the Company plans to incorporate blockchain-based data management technologies in the development of its proprietary application in order to enhance transparency and security, and ensure that transaction data is immutable, easily auditable, and decentralized, to protect against tampering and unauthorized access. To the extent that Matador determines to implement other operations related to Bitcoin or other blockchain technologies, such operations will be subject to the TSX Venture Exchange and applicable regulatory approvals.
The Release contains statements attributed to Sunny Ray and Deven Soni, and the 'About Matador' section, which are inconsistent with the business description of Matador as disclosed to the TSX Venture Exchange and as outlined in the Filing Statement. While the Company remains excited for future potential prospects associated with the Bitcoin ecosystem, Matador is currently focused solely upon its proprietary application for the purchase and sale of gold.
For greater certainty, the following section is to replace the 'About Matador' section in the Release:
About Matador Technologies Inc.
The Company was incorporated under the ABCA on November 1, 2021, and its registered and head office are located at 40 King St. West, Suite 2400, P.O. Box #215, Toronto, Ontario, M5H 3Y2. The Company aims to democratize the gold buying experience, combining the best of modern technology and time-proven assets, to create an app that will allow users to buy, sell, and store gold 24/7, with the added security and flexibility of an encrypted mobile application.
For additional information, please contact:
Matador Investor Relations Contact:
Sunny Ray
P: 647.297.4760
Matador Marketing & Media Contact:
Kimberly Verdin
P: 647.831.1146
Connect with Matador: Website | Linkedin | X.com
Cautionary Statement Regarding Forward-Looking Information
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
This news release contains certain forward-looking statements, including statements relating to whether or not the Company engages in any future operations related to Bitcoin Ordinals or other blockchain technologies, and other statements that are not historical facts. Wherever possible, words such as "may”, "will”, "should”, "could”, "expect”, "plan”, "intend”, "anticipate”, "believe”, "estimate”, "predict” or "potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions, including regulatory approvals and the availability of financing. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements.
These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
