VANCOUVER, BC, CANADA (April 5, 2018) – 360 Blockchain Inc. (“360” or the “Company”) (CSE: CODE - FWB: C5B) is pleased to announce it has closed its previously announced acquisition of the media directory and website Pressland (http://press.land) from Chaotic Neutral LLC. Under the direction of 360’s Strategic Advisor, Jeff Koyen, Pressland will relaunch as a blockchain-powered enterprise platform dedicated to fighting fake news.
“Before ‘fake news’ was a household term, Pressland was already in the business of media transparency,” said George Tsafalas, 360’s President. “Today, thanks to the innovative power of blockchain technology — and utilizing 360’s expertise and resources — we have the unique opportunity to expand Pressland’s original mission to that of rebuilding trust in media on an enterprise level.”
Described as “Yelp for Media” when launched in 2015, Pressland at its peak offered a crowd-sourced directory of more than 20,000 media outlets and professionals. Following the relaunch in 2018, Pressland will build the world’s most comprehensive media directory — using blockchain technology to ensure accuracy, trust and transparency — and offer this data to the public, non-profits and commercial developers.
“Pressland is already a fundamentally good idea that’s been popular with media professionals,” said Jeff Koyen. “But now that blockchain technology is more accessible and market-proven, it’s an exciting time to re-envision Pressland as a global platform that sits as the cornerstone in the fight against fake news.”
Pressland’s unique technology leverages human intelligence via paid microtasking; network analysis of the macro media ecosystem; and automated data collection in the form of scripts and other programmatic tech. The result is the world’s first dynamic, comprehensive media list that reliably and accurately answers the question, “Who’s behind the news?”
Planned revenue streams include:
Pressland plans to issue its own transactional currency in the form of a blockchain-based cryptographic token; 360 will hold a portion of this currency in reserve. Access to Pressland’s data via web portal and mobile apps will be free for the general public.
“By providing definitive, trustworthy data intelligence, Pressland will meet a great and pressing demand from media companies and social media platforms,” added Jeff Koyen. “We see significant growth opportunities in international markets, as well.”
Terms of the acquisition of 100% of Pressland included the issue of 2 million shares of 360 at a deemed price of $0.075 and providing $250,000 in initial working capital.
About Codebase Ventures Inc.
Codebase Ventures Inc. seeks early-stage investments in sectors that have significant upside. We seek innovators who are establishing tomorrow’s standards. We support those innovators and help take their ideas to market.
For further information, please contact:
George Tsafalas - Ivy Lu
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
E-mail: [email protected]
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.