Khan Resources (CSE: KRI) Announces Executive and Board Additions and a Proposed Name Change to Cypherpunk Holdings Inc.
Toronto, Ontario - June 7, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Khan Resources Inc. (CSE: KRI) ("Khan" or the "Company") is pleased to announce that further to its announcement on March 6, 2018 signaling a potential change in corporate direction, it has elected to pursue a strategy going forward that will focus on investments in selected cryptocurrencies as well as high impact investment opportunities related to Blockchain technology. To implement this new direction it is announcing today two immediate additions to its team that will better position the Company for entry and success into what is steadily being recognized as an entirely new asset class as well as a significant new growth area within technology.
Effective immediately, the Company has appointed Moe Adham as Chief Investment Officer (CIO) and will also nominate Mr. Adham for the board of directors at the upcoming Annual and General Meeting ("AGM") which is now scheduled for July 18, 2018. Mr Adham is currently the CEO of Ottawa based Bitaccess (www.Bitaccess.ca) which developed the world's first Bitcoin Teller Machine (BTM) and whose software currently powers the one of world's largest network of such machines. Bitaccess was also recently selected by the Government of Canada to run one of their first pilot programs trialing a Blockchain application, in this case one intended to make government research grant and funding information more transparent to the public. This application runs on Bitaccess' Catena Blockchain Suite platform and the pilot program is being overseen by the National Research Council, Canada's leading industrial research organization. Mr. Adham has a Masters Degree in Nanotechnology from the Swiss Federal Institute of Technology (EPFL) and a degree in Engineering / Economics from the University of Waterloo.
Also effective immediately, the Company has added Dominic Frisby to the board of directors, replacing Kal Malhi who has resigned. Mr Frisby, who resides in the UK, is a well-known author, journalist, market commentator and speaker, whose diverse accomplishments include being the author of "Bitcoin : The Future of Money?", the first known book published on Bitcoin by a recognized publisher. Mr Frisby contributes regularly to Moneyweek and the Guardian and is considered an authoritative figure on the world of cryptocurrencies by the British media.
As a reflection of the new corporate direction, the Company intends to propose a name change at the upcoming AGM to "Cypherpunk Holdings Inc", a name which references the important contribution of the Cypherpunks and the Cypherpunk Manifesto to the development and ultimate emergence of cryptocurrencies.
Finally, the Company has today granted a total of 5 million options at 10 cents to directors and employees for a period of five years. This is the first grant of options since the new board took control in May 2017, a period of time where no other executive compensation was paid pending a decision on the Company's new direction.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or indicates that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved". Forward-looking information includes, but is not limited to the Company's goal of making investments in the blockchain and other sectors and enhancing value. There is no assurance that the Company's plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.
Investor Relations Contacts:
Khan Resources Inc.
Interim President and Chief Executive Officer
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