Boardwalktech Closes Million Dollar License Contract

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Fortune 50 Financial Services Company Leveraging the Boardwalk Digital Ledger Platform

  • USD $1m committed to Boardwalktech for the license and use of Boardwalk's Digital Ledger Platform
  • Expected to support thousands of users both internally and externally across applications deployed in worldwide operations upon full integration

CUPERTINO, CA, July 16, 2019 /CNW/ - (TSXV:BWLK) - Boardwalktech Software Corp ("Boardwalktech") is pleased to announce that it has signed a Fortune 50 financial services company to a contract worth USD $1m. This represents a paradigm shift in the adoption of Boardwalktech's proprietary Digital Ledger Platform. The client has been deploying applications on the Boardwalk Digital Ledger Platform, however this contract represents a significant increase in both scope and spend with Boardwalktech.

The contract contains both licensed use of Boardwalk technology in addition to committed professional services that will help the Fortune 50 Financial Services group deploy a multitude of additional unique applications that support the use of a secure, time-based centralized digital ledger information exchange.

"We are proud to announce this important milestone, as it reflects both our growing traction and deeper penetration within existing customers," said Andrew T. Duncan, President and CEO of Boardwalktech Software Corp. "Our patented Central Digital Ledger Platform is in use by some of the largest companies in the world, where planning applications can be rapidly configured, integrated with the extended enterprise, and deployed using Microsoft Excel, a browser, or a mobile device. Boardwalk's patented technology delivers on the global demand for integrated flexible and secure digital information exchange - providing management trust, and a deeper level of efficiency for all participants in the value chain. We look forward to working alongside this client as we deliver applications that will increase security, productivity and ultimately deliver a strong ROI."

About Boardwalktech:

Boardwalktech has developed a patented Blockchain Digital Ledger Technology Platform that is in use today by 26 of the Fortune 500 running over 100 live mission critical applications world-wide. This enterprise platform allows for multi-party collaboration, provenance, verification and immutable transactions on a trusted, shared, and secured private permissioned blockchain cloud service. The Boardwalktech platform allows rapid blockchain application development on any device or user interface, supporting both on/off-chain "smart contract" business logic and full integration with enterprise systems of record.

Forward-Looking Information and Statements

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved".

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements.

An investment in securities of the Company is speculative and subject to several risks including, without limitation, the risks discussed under the heading "Risk Factors" in the Company's filing statement dated May 30, 2018. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

Neither 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.

SOURCE BoardwalkTech

For further information: Contacts: Charlie Glavin, Chief Financial Officer, Boardwalktech, Inc., 650-618-6163, charlie.glavin@boardwalktech.com; Virtus Advisory Group, 416-644-5081, Boardwalk@virtusadvisory.com

Released July 16, 2019