Toronto, Ontario – (Newsfile Corp. – June 3, 2021) – SoLVBL Solutions Inc. (CSE: SOLV) (“SoLVBL” or the “Company”), an innovative cybersecurity company that provides SaaS-based proprietary data authentication, is pleased to announce that it has accepted the terms of a technology license and software development agreement with New Foundation Technologies Corp. (“New Foundation “). The deal comes with a six-figure prepayment from New Foundation to SoLVBL. The licensed patent pending technology known as Q by SoLVBLMT, will be used as a tool to create immutable and verifiable non-fungible tokens (“TVN“) using advanced cryptography for product authentication.
Following a call for tenders (“Call for tenders“) of New Foundation and the subsequent announcement on May 13, 2021 of the selection of SoLVBL by New Foundation to provide the technical solution to the creation of NFT, the parties have entered into negotiations on the terms of the final agreement. Today’s announcement is the culmination of discussions and negotiations between the parties.
“We are delighted that New Foundation has chosen to license Q by SoLVBLMT, our flagship product, for its NFT products and has entrusted our Company with the development of its NFT products “. Q by SoLVBLMT can be deployed as a cloud-based, on-premise or hybrid solution, ”said Raymond Pomroy, CEO of SoLVBL. This is the first revenue-generating deal for SoLVBL, with work scheduled to begin with New Foundation later this year. that New Foundation got this deal with SoLVBL, it advanced a six-figure payment to SoLVBL. Raymond Pomroy added: “This is an exciting development for SoLVBL. We have heavily targeted the financial and government sectors for our technology, and this new segment that we have not studied shows us and the larger entities we are currently discussing with that this technology can be a game-changer and now. verified by an outside company and now a client. “
Vicky Arora, New Foundation Director of Licensing, said: “The impact of the collaboration between New Foundation and SoLVBL and the use of SoLVBL’s intellectual property is often best realized when brought to market by leaders. technologies like SoLVBL. support our growth plans, but it allows our customers in the United States, Europe and our new Asian markets, the opportunity to produce NFT products supported by this technology. Q by SoLVBLMT during the bidding process was that it has the ability to create immutable and verifiable elements of NFT, at incredible speeds and scalability and can be seen as a powerful tool for elements such as NFTs to deliver them to the market with confidence, efficiency and effectiveness. “
About New Foundation Technologies Corp.
New Foundation is a United States-based technology investment firm with offices in Los Angeles, United States and its European office in London, United Kingdom. New Foundation’s mission-driven teams are dedicated to creating non-fungible tokens (NFTs) for the arts, digital arts, gaming, real estate, sports, fashion and media and entertainment. Through its global partnerships, the company works in various geographic and cultural sectors.
For more information, please visit nftech.info.
About SoLVBL Solutions Inc.
SoLVBL is an innovative cybersecurity company. The company’s mission is to enable better and faster decisions by developing a universal standard for establishing the authenticity of digital recordings. The flagship product Q by SoLVBL ™ is the Company’s proprietary software, designed to be easy to use and adopt, at an economical price, and to provide digital recording authentication at unprecedented speed. Q by SoLVBL ™ enables organizations to build trust in their data. The Company is currently pursuing the following verticals: digital evidence chain of custody; including, NG-911, data used in financial industry, medical applications and critical IoT infrastructures.
For more information, please visit SoLVBL.com
For more information, please contact:
Solutions SoLVBL inc.
Raymond Pomroy, CEO
15 Toronto Street, Suite 602
Toronto, Ontario, M5C2E3
E: [email protected]
The CSE has neither approved nor disapproved the contents of this press release.
NEITHER THE CSE NOR ITS MARKET REGULATOR (AS DEFINED IN CSE POLICIES) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION. CAUTION REGARDING FORWARD-LOOKING INFORMATION: This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Any statement that involves discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, future events or performance (often but not always using expressions such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “planned”, “plans”, “estimates”, “believes” or ” intends “or variations of these words and expressions or asserting that certain actions, events or results” may “or” could “,” would “,” could “or” shall “be regarded as occurring or be reached) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions which, although believed to be reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause actual results and future events differ materially from those expressed or implied. by such forward-looking statements. These factors include, but are not limited to: the Company’s ability to successfully meet its business objectives, including the implementation and success of Q by SoLVBLMT, and expectations regarding other economic, business and / or competitive factors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Unless required by law, SoLVBL assumes no obligation to update any forward-looking statements of beliefs, opinions, projections or other factors, should it change, except as required by law.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Law“), or any state securities law and may not be offered or sold in the” United States “as that term is defined in Regulation S promulgated under the US Securities Act, unless it is not registered under the US Securities Act and laws or an exemption from these registration requirements is available.
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