Las Vegas, Nevada, May 05, 2020 (GLOBE NEWSWIRE) -- RocketFuel Blockchain, Inc. (RKFL) (“RocketFuel” or the “Company”), a developer of blockchain-based privacy protection technologies, today announced the completion of a $500,000 private placement with a private group of strategic investors. The financing also provided for the grant of a one-year common stock purchase warrant exercisable into 1,500,000 shares of the Company’s common stock.
Gert Funk, the Company’s CEO, stated, “This financing arrangement is pivotal in continuing the execution of both our short- and long-term strategic plans. The initial tranche of $500,000 provides us the working capital to continue the development of our core blockchain-based technologies and to support our recently announced strategic partnership which should generate near-term revenues. The follow-on funding anticipated from the exercise of the associated warrants will provide the resources necessary to build our technology team to continue product innovation and to establish a sales and marketing team to penetrate the target market to drive revenues and future profitability. We are grateful to our new investors who expressed confidence in our business plan and understood the value of what we believe to be unique and cutting-edge technology.”
About RocketFuel Blockchain, Inc.
RocketFuel Blockchain Inc. is developing blockchain-based technologies to bring highly efficient check-out and privacy protection solutions to eCommerce and brick and mortar merchants and their customers.
The blockchain technologies developed by RocketFuel are designed to focus on enhanced customer privacy protection eliminating the risk of data breach while increasing the speed, the security and the ease of use. RocketFuel believes that users of its technologies will be able to enjoy seamless check-out and forget about the clunky cart paradigm of the past. We also believe merchants will be able to implement new impulse buying schemes and generate new sales channels that may be unavailable in present day eCommerce sites. More information about RocketFuel is available at: www.rocketfuelblockchain.com.
The Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as “may,” “might,” “would,” “should,” “could,” “project,” “estimate,” “pro-forma,” “predict,” “potential,” “strategy,” “anticipate,” “attempt,” “develop,” “plan,” “help,” “believe,” “continue,” “intend,” “expect,” “future,” and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management for future operations, are based on management’s current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the company’s products and services; competition from existing products or new products that may emerge; the implementation of the company’s business model and strategic plans for its business and our products; estimates of the company’s future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company’s competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on such risks and uncertainties, you are encouraged to review the Company’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K for the fiscal year ended March 31, 2019. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.
For further information contact:
Phone +1 310.666.0750