Canada and LONDON, Jan. 09, 2019 (GLOBE NEWSWIRE) — BTL GROUP LTD. (TSX Venture: BTL) (the “Company”) is pleased to announce that effective January 10, 2019 it will be changing its name to “Interbit Ltd.” The Company’s new website will be www.interbit.xo and the common shares of the Company will commence trading under the new name on the TSX Venture Exchange with the new trading symbol “IBIT” at the opening of trading on January 10, 2019.
The name change, approved at last year’s AGM, is to create alignment with its principal product InterbitTM, the megachain software platforms that have been the Company’s development focus since mid-2016. Version 2 of the InterbitTM platform was released for testing and feedback on April 23, 2018 and Version 3 of the InterbitTM platform is currently in development (see the Company’s November 7, 2018 news release). The Company announced in November 2018 it was joining the CitizenOS Project and related venture with Xinova, LLC and Helix Applications Inc. and would license the InterbitTM platform to that venture (see the Company’s November 29, 2018 news release).
“The emergence of Edge computing and 5G in 2019 will demand new forms of distributed computing, which our InterbitTM platforms will target,” said Tom Thompson, CTO of the Company.
“Our strategic initiative CitizenOS, will enable us to begin tackling the practical challenges associated with deploying Smart City technologies into society,” said Dominic McCann, CEO of the Company. “To support our approach we assembled, in November 2018, a highly specialised programming team, as well as hardware and software partners to begin delivering solutions for commercial opportunities in 2019.”
There is no change in the share capital of the Company, and shareholders are not required to exchange their existing share certificates for new certificates. The Company’s new CUSIP number is 45845F100 and its new ISIN number is CA45845F1009.
ABOUT THE COMPANY AND THE INTERBITTM PLATFORMS
The Company is a technology platform provider listed on the TSX Venture Exchange and operating from both Canada and the UK with offices in Calgary and London. The InterbitTM platforms are 3rd generation blockchain platforms which enable business applications to be built quickly, easily and securely.
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this release are forward-looking statements, which include further development of the Company’s business relationships and business and the timing, development. launch and success of the Company’s technologies and products, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, the development of competitive technologies, the marketplace acceptance of the Company’s technologies and products, as well as those risk factors discussed or referred to in the Company’s annual Management’s Discussion and Analysis for the year ended December 31, 2017 available at www.sedar.com, many of which are beyond the control of the Company. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.