VANCOUVER, BC / ACCESSWIRE / April 14, 2015 / Wolverine Exploration Inc. ("Wolverine") (OTC Pink: WOLV) announced today that it has entered into a Share Exchange and Royalty Agreement (the "Agreement") with Dr. David Chalk, hd.Tech ("Chalk"). Under the terms of the Agreement, Wolverine will acquire a 25% interest in the process technology and cyber security company ENIGMAMobil Inc. ("Enigma") from Chalk for the purchase price of USD $3,000,000, to be paid in shares of common stock of Wolverine at a deemed price of USD$0.01 per share (the "Shares"). Wolverine will also receive a 25% royalty of all gross revenue received by Enigma from the sale of licenses of the ENIGMAMobil(TM) mobile security app. The Agreement is subject to Enigma completing a financing of USD$2,500,000 and Wolverine increasing its authorized capital of common stock to allow for the issuance of the Shares and Finders' Shares (as defined below).
Additionally, closing of the Agreement will involve Wolverine issuing a finder's fee consisting of 30,000,000 common shares of Wolverine (the "Finder's Shares") and grant a 10% royalty of all gross revenue received by Enigma from the sale of licenses of the ENIGMAMobil(TM) mobile security app received by Wolverine to Texada Consulting Inc.
Wolverine is also pleased to announce that Chalk has been appointed to the board of Directors of Wolverine. Chalk is a leading technology and cyber security expert whose knowledge and understanding regarding the current state of cyber threats is unsurpassed.
Chalk is a pioneer in the technology industry having created Doppler Computers and Chalk Media Inc. which was sold to Research in Motion, now Blackberry, in 2009. Chalk has also received numerous awards for his many innovations in the business and technology worlds. Among his many accolades, Chalk has received an Honorary Doctorate of Technology from the University of Fraser Valley, Ernst and Young's Entrepreneur Award also industry leading awards for software development in the mobility, security and education and digital video fields.
Mr. Lee Costerd has resigned as CEO and a director of Wolverine. Wolverine wishes to thank Mr. Costerd for his years of service as a director and officer of Wolverine.
Mr. Richard Haderer has been appointed as interim CEO and a director of Wolverine. Mr. Haderer has worked as a regulatory consultant for Wolverine since February of 2006. Mr. Haderer has been President of PubCo Services Inc. since April 2006. PubCo Services Inc. provides regulatory consulting services to public traded companies. Mr. Haderer has also served as a director and officer of several public traded companies. From November 1989 to April 1996, Mr. Haderer worked as a Listing Analyst with the Alberta Stock Exchange (now the TSX Venture Exchange).
Business of Enigma
Enigma has developed a process technology by which computer breaches and intrusion attempts can be detected and remedied in real-time without incident. This ability to "Live-Audit" the processes operating in an automated system and prevent manipulation and theft is a paradigm shift the industry has demanded. The live-audit of an automated process is not possible by any other current security technologies, as all operate under investigate and remove methodology, in essence the intrusion is only known when the "breach" has already occurred (ie. "You have a virus detected") and as such damage and or some loss has already occurred. Mitigation of the event is the only outcome possible.
All third party testing on the patented process technology completed has confirmed the certainty of Enigma's, non-forensic, live detection for process security. Functioning as a 5th Generation Language Application (5GLA), it is the only possibility of real-time data-in-motion protection for cyber security and further it will add tremendous efficiency to process improvement and digital process management (DPM). Enigma is "next-generation-security" that may be the only way to effectively and economically address cyber security for the Internet, enterprise and control systems that affect stability worldwide.
Enigma will initially complete and deploy a secure smartphone application for Blackberry, Apple iOS, Android and operating systems. When complete, Enigma will be able to protect with certainty, the wireless marketplace currently in excess of 7 billion devices. Overall mobile data traffic is expected to grow to 24.3 exabytes per month to 2019, nearly a tenfold increase over 2014. Mobil data traffic will grow at a compound annual growth rate (CAGR) of 57% from 2014 to 2019. http://www.cisco.com/c/en/us/solutions/collateral/service-provider/visual-networking-index-vni/white_paper_c11-520862.html. The Enigma's first mobile security application will be available to the marketplace for use within 10 months of receipt of funding.
For additional information regarding Enigma please visit http://enigmamobile.com/.
On behalf of the Board
For further information please contact:
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the Enigma acquisition.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE: Wolverine Exploration Inc.