Microelectronics Technology Corporation Provides Update Regarding Acquisition of Bitcoin Cyber Currency Digital Mining Company
25 Aprile 2014 - 7:50PM
Marketwired
Microelectronics Technology Corporation Provides Update Regarding
Acquisition of Bitcoin Cyber Currency Digital Mining Company
MONARCH BAY, CA--(Marketwired - Apr 25, 2014) - Microelectronics
Technology Corporation (OTCQB: MELY), the Company previously
announced:
"Company has completed the documentation required for the
finalization of the acquisition of Digital Mining Corporation and
its digital mining assets.
Complete Acquisition details will be provided on form 8K yet to
be filed."
THE COMPANY WILL FILE FORM 8K WITHIN FOUR DAYS OF THE EFFECTIVE
DATE IN COMPLIANCE WITH SEC REQUIREMENTS.
In response to an overwhelming number of requests for
information regarding the acquisition. The company is providing an
update for the timing of the filing of the Form 8K.
Contained in the language of the acquisition agreement, is an
effective date
clause which provides for a stipulation to the closing, at
the company's option, until after the successful launch of the
companies BTCMINING POOL due to be launched May 1, 2014 subject to
server availability.
THE COMPANY WILL FILE FORM 8K WITHIN FOUR DAYS OF THE EFFECTIVE
DATE IN COMPLIANCE WITH SEC REQUIREMENTS.
"The Company has negotiated in good faith for the acquisition of
this company and its assets and intellectual property," states
company president Mr. Brett Everett. "It is in the best
interest of the company and its shareholders to determine that the
technology and intellectual property being acquired operate as
represented, with the functionality the company expects and
requires."
Bitcoin Mining:
BTC The company is in development of a 100 TH/s mining pool.
The company will be investing in the required hardware needed to
provide the targeted 100 TH/s rate over the period of six to eight
months. The company will be operating this cyber currency mining
center in an open pool configuration allowing other miners to join
the pool for a proportional percentage share of the mining pool
production.
The company anticipates the launch of its Bitcoin Mining pool
May 1, 2014.
The company will add the first 3 (1TH/S servers) Bitcoin Mining
Servers to the mining pool upon completion of the initial testing,
with the addition of 10 (1TH/s servers) every two weeks contingent
upon consistent delivery of the servers from our supplier. The
company will be operating this cyber currency mining center in an
open pool configuration allowing other miners to join the pool for
a proportional percentage share of the mining pool production.
About Dynamo Servers Dynamo Servers provide dedicated servers to
clients through our point of presence in Vancouver, Canada inside a
carrier neutral facility owned and operated by Cologix Inc.
www.dynamoservers.com
Forward-Looking Statements:
This news release includes forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. While these statements are made to
convey Company progress, business opportunities and growth
prospects, readers are cautioned that such forward-looking
statements represent management's opinion. Whereas management
believes such representations to be true and accurate based on
information and data available to the Company at this time, actual
results may differ materially and are subject to risk and
uncertainties. Factors that may cause actual results to differ
include without limitation: dependence on key personnel and
suppliers; MELY's ability to commercialize its technology; ability
to defend intellectual property; material and component costs;
competition; economic conditions; consumer demand and product
acceptance, and availability of growth capital. Additional
considerations and risk factors are set forth in reports filed on
Form 8-K and 10-K with the SEC and other filings. Readers are
cautioned not to place undue reliance upon these forward-looking
statements; historical information is not an indicator of future
performance. The Company undertakes no obligation to update
publicly any forward-looking statements
For further Information: Microelectronics Technology Co.
President: Mr. Brett Everett 1-949-436-9382 info@melypk.com
www.melypk.com www.dynamoservers.com
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