Ether Capital Corporation Re-Asserts Importance of Governance and Security Practices
Toronto, Ontario, February 19, 2019 – Ether Capital Corporation (“Ether Capital”, “ETHC” or the “Company”) (NEO: ETHC) wishes to highlight and re-affirm the importance of governance and security practices it has maintained since its inception specifically in light of current news in the sector including a recent creditor protection filing by Quadriga CX, a major Canadian cryptocurrency exchange.
Ether Capital believes that it is critical that investors understand the security and governance structure of any platform they invest in and that the Company provides investors with a differentiated platform in the Ethereum and the Web 3 ecosystem. Ether Capital has structured its operations to reflect what it considers to be best practices seeking to mitigate the specific risks that come with the custody of cryptocurrencies. In short, Ether Capital has built a unique and trusted access point in the emerging cryptocurrency ecosystem that is highly transparent and secure.
Ether Capital has focused on the following three core foundational principles since its inception:
The Company has assembled a world-class team of directors with strong reputations in traditional finance, venture capital, governance and technology to invest in the ecosystem and take a leadership role in securing and allocating shareholder capital. In consultation with its legal counsel and auditors, Ether Capital has adopted strong internal processes, procedures and policies related to corporate governance and operations which are regularly updated by management and reviewed by its board of directors. In addition, Ether Capital engages with leaders outside of its organization about evolving best practices, both within and outside the cryptocurrency industry, and seeks to implement them as applicable.
As a Canadian reporting issuer, Ether Capital is subject to Canadian securities laws which require and mandate transparency and disclosure through the public company regime. For example, Ether Capital is required to publicly disclose material information in a timely manner including disclosure related to its business and operations and provide regular updates as to its financial results through quarterly reports.
Ether Capital holds a substantial amount of Ether, the native cryptocurrency of the Ethereum blockchain. Ether Capital does not store assets with a third party such as an exchange. Instead, ETHC employs a multi-signature self-custody solution where the Ether is controlled by the directors of Ether Capital as a group. The multi-signature self-custody solution employed by the Company is a wallet that requires approval from a majority of the directors for any transaction to be completed. In this regard, Ether Capital’s custody solution does not have a single point of failure and provides strong security guarantees. The multi-signature wallet type employed by the Company is also relied on by many of the leading projects in the cryptocurrency industry, has been audited extensively and its code has been formally verified.
Stefan Coolican, President and Chief Financial Officer of Ether Capital, commented: “At Ether Capital, governance, transparency and security best practices are at the core of our corporate identity. It is clear that best practices are essential to minimizing the risks of scenarios we see reported in the press.”
Continued Brian Mosoff, Ether Capital’s Chief Executive Officer, “I encourage shareholders, potential investors, industry participants and other interested parties to engage with us on the issues that have come to light following the recent news relating to Quadriga CX. An open dialogue is very important as the cryptocurrency ecosystem matures. Our goal at Ether Capital is to be an industry leader and we believe we have the expertise and structure to set an example. We look forward to playing a central role in the continued development of this incredibly innovative industry.”
About Ether Capital Corporation
Ether Capital is a Toronto-based technology company whose objective is to become the central business and investment hub for the Ethereum and Web 3 ecosystem. Ether Capital has invested in Ethereum’s native utility token “Ether” as a strategic asset, and selectively invests in projects, protocols and businesses that leverage the Ethereum ecosystem and Web 3 technologies. Founded by a highly experienced Board of Directors and management team, Ether Capital has the resources, experience and relationships to support businesses and invest in industry-shifting disruptive technologies. For more information, visit http://ethcap.co/.
For further information concerning this press release, please contact:
Chief Executive Officer
President and Chief Financial Officer
This press release is not an offer of securities for sale in the United States, and the securities described in this press release may not be offered or sold in the United States absent registration or an exemption from registration. The securities have not been and will not be registered under the United States Securities Act of 1933. The NEO Exchange does not accept responsibility for the adequacy or accuracy of this release.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “scheduled”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” occur or be achieved. Forward-looking information includes, but is not limited to, the statements in regard to ETHC’s governance and securities practices, the Ethereum platform and the Company’s business and strategy.
Forward-looking information is 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 forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, geopolitical, technological and social uncertainties; uncertainties in regard to the development and acceptance of blockchain technology and the Ethereum platform; and uncertain capital markets. Although the forward-looking information is based on the Company’s reasonable assumptions at the date such statements are made, there can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any forward-looking information, except in accordance with applicable securities laws.