Santa Monica, CA, June 14, 2018 (GLOBE NEWSWIRE) -- Gopher Protocol Inc. (OTCQB: GOPH) ("Gopher"), a company specializing in the creation of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies, is pleased to announce that its partially owned subsidiary, Gopher Protocol Costa Rica, S.R.L. has entered into a Letter of Intent to acquire TOKENIZE-IT S.A. pursuant to which Gopher will issue 20 million shares of common stock to TOKENIZE-IT.
TOKENIZE-IT is a software developer and technology company which owns a portfolio of blockchain technologies focused on providing technology and services to third parties for the purchase of converting income producing assets and cash flow streams into tokens that can be traded as well as the tokenization of financial sovereign instruments. These blockchain utility tokens are not dependent on a single blockchain technology, they can be created on multiple blockchains.
In parallel with the closing of the TOKENIZE-IT transaction as contemplated by the Letter of Intent, TOKENIZE-IT will enter into a joint venture agreement with GBT Technologies, S.A. (“GBT”) to access token and cryptocurrency trading through a fully licensed and Central Bank regulated “Currency Exchange” in Costa Rica. It is the goal of TOKENIZE-IT to further enhance its product offerings by providing multiple abilities to enhance liquidity and positive exposure to its tokens by listing them on GBT's exchange platform. As a result of the joint venture, TOKENIZE-IT will issue equity securities to GBT representing a 50% interest in TOKENIZE-IT and assign 20 million shares of Gopher to GBT.
“With Mauricio Lara spear-heading TOKENIZE-IT and Pablo Gonzalez directing GBT Technologies, we are certain that only a powerful outcome will come from this joint venture as they both have vast experience in the blockchain space from an operability standpoint but also from a legal, banking and public markets point of view, having been speakers in multiple conferences and a reference point in many Latin American markets,” stated Mansour Khatib, CEO of Gopher. “Just yesterday at MoneConf in Dublin, the CEO of Circle Internet Financial, Inc. stated that 'We Are at the Beginning of Tokenization of Everything' (https://cointelegraph.com/news/circle-ceo-at-moneyconf-dublin-we-are-at-the-beginning-of-tokenization-of-everything). I believe Gopher is entering the industry at the right time equipped with the right technology and personnel,” added Mr. Khatib.
The intent of these corporate actions is to increase the technology and reach of Gopher further into the financial services arena. If Gopher is successful in creating its own communication network, it is a logical progression for these networks to also carry financial transactions, in both cryptocurrency, and Fiat Currency.
No assurance can be given that a definitive agreement will be entered into, that the appropriate governing bodies including Gopher’s board of directors will approve such transactions, that the proposed transactions contemplated above will be consummated, or that TOKENIZE-IT will be able to obtain adequate funds needed to fund its business plan.
Corporate Site: http://gopherprotocol.com
Press page/ press kit: http://gopherprotocol.com/?page_id=228
Consumer and product website for Guardian Patch: http://www.guardianpatch.com/.
About Guardian Pet Tracker http://www.guardianpettracker.com/
The Guardian Pet Tracker (Sphere Internal name - the "Sphere") system is a derivative technology of Gopher's Guardian Patch technology. The Sphere is designed to provide its users with local tracking capability using a re-chargeable/replaceable battery source. Gopher intends to release pre-production units in limited test in the near future.
GOPH disclosure: More info: SEC link /technology abstract:
Certain statements contained in this press release may constitute "forward-looking statements". Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company’s ability to raise capital on acceptable terms, if at all, the Company’s successful development of its products and the integration into its existing products and the commercial acceptance of the Company’s products. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.