Graph Blockchain Announces Management Changes and Provides Corporate Updates
Toronto, Ontario--(Newsfile Corp. - September 9, 2020) - Graph Blockchain Inc. (CSE: GBLC) ("Graph" or the "Company") is pleased to announce that Chairman of the Company, Andrew Ryu, is stepping in as the interim CEO of the Company, and departure of former CEO, Christian Scovenna. The Company has also appointed Jamie Hyland as Vice President of Operations of the Company.
"Firstly, I decided to take on this position to protect the interest of the existing shareholder and to create its value. Unfortunately, the Company had couple of management changes, yet was not able to build the Company. I plan to focus on building the previously announced eCommerce market play and build revenue. I also thank Jamie's decision to join the Company to turn it around with me," said interim CEO, Andrew Ryu.
Director Paul Haber commented, "Appointment of Mr. Ryu and Mr. Hyland bring a positive leadership change to the Company. I firmly believe he will stabilize and steer the Company in a right direction."
The Company also announces termination of the previously announced Letter of Intent to acquire Third Eye Corp. This was announced on August 6th, 2020. This is result of the Company's deep and narrow strategy to focus on eCommerce business.
About Graph Blockchain Inc.
The Company develops leading-edge private blockchain business intelligence and data management solutions that it will implement into a blockchain supported e-commerce marketplace for the sale of psychedelic and ancillary products in legal jurisdictions.
Additional Information on the Company is available at: www.graphblockchain.com.
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Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Such statements may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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