Pistol Bay to Create Blockchain Subsidiary
November 15 2017 - 8:00AM
Pistol Bay Mining Inc. (TSX-V:PST) (Frankfurt:OQS2)
(“
Pistol Bay” or the “
Company’)
is pleased to announce that the Company is in discussions to create
a wholly owned subsidiary focused on blockchain applications for
mining and resource company management. Pistol Bay will be
leveraging the work of other Application Program Interface (API)
companies to build a suite of blockchain products to address needs
that are particular to the data management and security of
mining/oil and gas companies. It is expected that many of these
blockchain products could have crossover to other industries.
These blockchain products may include but will
not be limited to focused Ethereum smart contracts, security, claim
management, resource management and the tokenization of
resources.
Charles Desjardins, President and CEO of Pistol
Bay states, “As blockchain technology is adapted at an
ever-increasing rate by individuals and industry worldwide, we
believe a unique opportunity exists to lead the mineral development
industry by building a resource focused blockchain company to
facilitate modern mining related transactions. This
represents an exciting opportunity for the shareholders of Pistol
Bay and as a founder of the original Investment.com portal, I have
always recognized the need to be early in adapting to new
technologies.”
Subsequent information will be released as
details are finalized. Pistol Bay remains committed to its
exploration efforts at Confederation Lake and is not pursuing a
change of business.
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral
Exploration Company with a focus on zinc and base metal properties
in Confederation Lake, Ontario. The company is also creating a
subsidiary for resource driven blockchain applications. For
additional information please visit the Company website at
www.pistolbaymininginc.com or contact Charles Desjardins at
pistolbaymining@gmail.com.
On Behalf of the Board of Directors
PISTOL BAY MINING INC.
"Charles
Desjardins"
Charles Desjardins, President and Director
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.
Cautionary note: This report contains forward
looking statements. Resource estimates, unless specifically noted,
are considered speculative. Any and all other resource or reserve
estimates are historical in nature, and should not be relied upon.
By their nature, forward looking statements involve risk and
uncertainties because they relate to events and depend on factors
that will or may occur in the future. Actual results may vary
depending upon exploration activities, industry production,
commodity demand and pricing, currency exchange rates, and, but not
limited to, general economic factors. Cautionary Note to US
investors: The U.S. Securities and Exchange Commission specifically
prohibits the use of certain terms, such as "reserves" unless such
figures are based upon actual production or formation tests and can
be shown to be economically and legally producible under existing
economic and operating conditions.
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