First Bitcoin Capital Postpones Cryptocurrency Dividend; Dividend Declared and Will Accrue Pending Regulatory Approval
TEL AVIV, ISRAEL / ACCESSWIRE / October 4, 2017 / First Bitcoin Capital Corp. (OTC PINK: BITCF) (the "Company") announced today that payment of TeslaCoil Coins as a dividend to holders of the Company's common stock on the previously announced record date has been postponed pending finalization of a workable distribution plan and subject to receipt of required regulatory approval. On August 2, 2017, the Company announced that it would pay a dividend in the form of TeslaCoil Coins to shareholders and thereafter established a record date of September 12, 2017, with the payment of the dividend scheduled for September 29, 2017. However, the Company did not anticipate the complexity associated with developing a plan to ensure that payment of the cryptocurrency dividend is made available to all beneficial owners of the Company's common stock as of the record date and is working on various procedural and logistical distribution issues. The Company hopes to have a comprehensive distribution plan in place within the near future and will announce further details as they become available.
During the interim, the TeslaCoil Coins payable as dividends have been declared and deposited by the Company in a separate Omni digital wallet owned and controlled by the Company and will be held for the benefit of shareholders entitled to payment of the dividend. The Omni wallet in which the TeslaCoil Coin dividends have been deposited may be viewed at:
The TeslaCoil Coins earmarked for distribution as dividends will be held by the Company in its new Omni wallet until a final dividend distribution plan is in place and regulatory approval has been obtained by the Company.
About First Bitcoin Capital Corp.
First Bitcoin Capital Corp. is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange - www.CoinQX.com (in Beta). We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies and in developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company, we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies.
Cautionary Note to Investors
Investors and potential shareholders in the Company should carefully consider the high risks involved in speculating in our common stock both in the OTC markets as well as in the cryptocurrency markets and should be aware that the inventory of altcoins developed or maintained by the Company, while showing significant potential, is highly speculative and that such cryptocurrencies are extremely illiquid and only trade sporadically on small, foreign cryptocurrency exchanges.
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com.
SOURCE: First Bitcoin Capital Corp.