|By Business Wire||
|May 15, 2014 05:02 PM EDT||
Newnote Financial Corp. (the “Company”) (CSE: NEU; FSE: 1W4) is pleased to announce that the company’s cloud hashing service "Newnote Miners," which went live on May 13, 2014, sold out of its current installed capacity in 12 hours.
Cloud hashing enables users to participate in Bitcoin mining without having to purchase and maintain hardware. Newnote Miners cloud hashing software platform is designed to distribute Bitcoin to subscribers based on purchased hashing power. The Newnote Miners platform offers a full range of reporting tools and administrative utilities to adapt to the dynamic nature of the Bitcoin cloud hashing market. Newnote Miners also enables Bitcoin miners to resell excess computing power on its platform which will rapidly increase the availability of hashing power to its subscribers.
“The demand for cloud hashing is overwhelming, our Bitcoin mining payment distribution system works flawlessly and we are now able to handle third party miners hashing power which will open up a whole new stream of service fee revenue,” reports Paul Dickson, President & CEO of Newnote Financial.
“We are now licensing our proprietary state-of-the-art cloud-hashing software to large volume Bitcoin mining operations world-wide. Currently, we are negotiating terms to resell 100 Terahashes to Newnote Miners customers and hope to continue adding substantial hashing power to our platform in the coming months,” he added.
Newnote Financial Corporation has elected to provide notice of the acceleration of the expiry date of the 3,840,000 Share Purchase Warrants ("Warrants") to the holders of the Warrants as the shares of the Company have traded for ten consecutive days above $0.20. Each Warrant entitles the holder to acquire one common share of the Company at a price of $0.10 on or before 5:00 p.m. PST on June 15, 2014. Warrants that are not exercised by June 15, 2014 will expire and will thereafter be void and of no value or effect. If all of the Warrants are exercised, the Company will receive proceeds of approximately $384,000.
About Newnote Financial Corp.
Newnote Financial Corp. is pioneering innovative crypto-currency and Bitcoin related software products and services geared at the growing business segment of this bourgeoning market. Newnote has positioned itself to be a leading contender in delivering opportunities to startup businesses world-wide and continues to create new opportunities for its clients and its shareholders. Newnote has a clear vision on the direction in which this new and unique business is headed and is continually adjusting and adopting new business practices in both technology and the policies & procedures required by banks and securities regulators.
For further information please contact:
President, CEO & Director
Newnote Financial Corp.
Suite 709-700 West Pender Street
Vancouver, BC V6C 1G8
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Newnote Financial Corp. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The CSE has not reviewed, approved or disapproved the content of this press release.