VANCOUVER, British Columbia – September 10, 2021 – Neptune Digital Assets Corp. (TSX-V:NDA) (OTC:NPPTF) (FSE:1NW) (“Neptune” or the “Company“), a cryptocurrency leader in Canada, is announcing a change of auditor along with an update of its assets under management.
Manning Elliott LLP (the “Former Auditor”) has resigned, at the Former Auditor’s own initiative, effective on September 7, 2021. As of the date hereof, Neptune is evaluating successor auditors.
“It is unfortunate that our auditor, Manning Elliott LLP, has decided to leave the crypto space after providing audit services for the last three years. This is not exclusive to Neptune and we are told they have resigned from all of their cryptocurrency clients. We are in talks to replace Manning Elliott LLP with another firm as soon as possible and don’t expect any adverse impacts to the Company. This is just one example of the many challenges that public cryptocurrency and Bitcoin mining companies face in the current regulatory environment”, stated Cale Moodie, Neptune CEO.
Please refer to the Company’s profile on www.sedar.com for the change of auditor notice.
Neptune is also pleased to provide details of its current cryptocurrency holdings and staking income as of September 09, 2021:
- Cash and stable coins $28,000,000
- BTC $6,600,000
- ETH $1,400,000
- ATOM $5,100,000
- FTM $3,200,000
- DASH $540,000
- 87,000 TH/s of Mining Rigs $9,200,000
- Other Alt coins $313,000
- Protocol Fund estimated balance $3,000,000
- Zero debt
- Staking income of approximately $325,000 per month
“We are happy to provide our shareholders with a breakdown of our over $57M in growing assets. And of course, once we have our new 75,000 TH/s of Bitcoin mining power come online, our income will grow substantially and we expect much of that to transpire in 2021”, stated Cale Moodie, Neptune CEO.
About Neptune Digital Assets Corp.
Neptune Digital Assets (TSX-V:NDA) is one of the first publicly-traded blockchain companies in Canada and is a cryptocurrency leader with diversified assets and cryptocurrency operations across the digital asset ecosystem including bitcoin mining, tokens, proof-of-stake cryptocurrencies, decentralized finance (DeFi) and associated blockchain technologies.
ON BEHALF OF THE BOARD
Cale Moodie, President and CEO
Neptune Digital Assets Corp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”, “proposes” or similar terminology. Forward-looking statements and information include, but are not limited to, statements with respect to the future appointment of the Company’s successor auditor and the anticipated timing thereof; the availability of suitable candidates to serve as the Company’s replacement auditor; the expected impacts of the change of the Company’s auditor; and the future completion by the Company of required press releases and associated filings pursuant to NI 51-102 in relation to a successor auditor. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the inherent risks involved in the cryptocurrency and general securities markets; the Company’s ability to successfully mine digital currency; revenue of the Company may not increase as currently anticipated, or at all; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.