Pistol Bay to Create Blockchain Subsidiary
VANCOUVER, British Columbia, Nov.15, 2017(GLOBE NEWSWIRE) -- Pistol Bay Mining Inc. (TSX-V:PST) (Frankfurt:OQS2) ("Pistol Bay" or the "Company') is pleased to announce that the Company is in discussions to create a wholly owned subsidiary focused on blockchain applications for mining and resource company management. Pistol Bay will be leveraging the work of other Application Program Interface (API) companies to build a suite of blockchain products to address needs that are particular to the data management and security of mining/oil and gas companies. It is expected that many of these blockchain products could have crossover to other industries.
These blockchain products may include but will not be limited to focused Ethereum smart contracts, security, claim management, resource management and the tokenization of resources.
Charles Desjardins, President and CEO of Pistol Bay states, "As blockchain technology is adapted at an ever-increasing rate by individuals and industry worldwide, we believe a unique opportunity exists to lead the mineral development industry by building a resource focused blockchain company to facilitate modern mining related transactions. This represents an exciting opportunity for the shareholders of Pistol Bay and as a founder of the original Investment.com portal, I have always recognized the need to be early in adapting to new technologies."
Subsequent information will be released as details are finalized. Pistol Bay remains committed to its exploration efforts at Confederation Lake and is not pursuing a change of business.
About Pistol Bay Mining Inc.
Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base metal properties in Confederation Lake, Ontario. The company is also creating a subsidiary for resource driven blockchain applications. For additional information please visit the Company website at www.pistolbaymininginc.com or contact Charles Desjardins at pistolbaymining@gmail.com.
On Behalf of the Board of Directors
PISTOL BAY MINING INC.
"Charles Desjardins"
Charles Desjardins,
President and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary note:
This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.