Kenan Huskovic Named Chief Energy and Engineering Officer at CryptoGlobal

Canada's Financial Technology Leader Powers Up its Team for 2018 Expansion

TORONTO, March 20, 2018 /CNW/ - CryptoGlobal Corp. (TSXV: CPTO) — one of Canada's fastest growing FinTech and blockchain technology companies — is powering up its leadership team by naming veteran professional engineer Kenan Huskovic as its Chief Energy and Engineering Officer.

"Kenan brings a wealth of experience in finding and building out innovative, sustainable and affordable engineering and power solutions, which will help CryptoGlobal continue to expand our self-mining and hosting revenues," explains CryptoGlobal CEO Rob Segal. 

CryptoGlobal has named veteran engineer Kenan Huskovic as its Chief Energy and Engineering Officer. (CNW Group/CryptoGlobal Corp.)

Experienced Energy and Engineering Leadership

Before joining CryptoGlobal, Huskovic was the Executive Vice President at Modern Niagara, a full-service, national mechanical and electrical design, build firm.  Huskovic also spent 14 years at WSP — one of the world's leading engineering firms — helping to lead complex, landmark projects across the country.  Huskovic brings more than 16 years of expertise in the design and implementation of complex projects and associated systems related to a variety of sectors, including:  power generation, data center communications and more. 

His areas of specialization include power systems generation and distribution, security systems, life safety, fire protection systems, energy modelling, mechanical cooling and ventilation systems design.  In 2015, Huskovic was named one of the Top 40 Under 40 Consulting Engineers in North America.  Huskovic holds a Bachelor of Science, Engineering from the University of Toronto — and is a licensed, professional engineer in a number of Canadian provinces.  He currently serves as the Membership Director for the Greater Toronto Area chapter of AFCOM.

Finding Innovative Solutions to Power Challenges 

Segal says Huscovic and COO Roozbeh Ebbadi's combined leadership was essential to help the company quickly adjust when it encountered unexpected delays in Quebec due to a province-wide slowdown on crypto power deal approvals. "As we work through those issues, our team has been able to effectively pivot to place machines in our existing facilities and in supplemental, fully-powered locations with strategic partners in Quebec and the Atlantic provinces," he says.  

7100 Machines Mining by End of March – EBITDA and Cash Flow Positive in April

According to Segal, CryptoGlobal is on-track to have approximately 7100 machines actively mining by the end of March; bringing the company's current operating capacity to 11 MW by the end of the month.  All 8563 of the company's mining rigs are scheduled to be operational by the end of April 2018.

This represents a portfolio allocation of roughly 44% Bitcoin, 24% Litecoin, 13% Dash and 19% Ether.  This mix will be optimized as the company continues to reinvest in growing its mining revenues.

As previously announced, the company expects to be EBITDA and cash flow positive starting in April 2018.

Powering the Blockchain with Renewable, Canadian Power

"CryptoGlobal is one of Canada's fastest growing financial technology companies, with a strong core of cryptocurrency mining. This is an exciting opportunity to help lay the power, engineering and infrastructure foundations for CryptoGlobal's immediate and long-term success," says Huskovic.  

CryptoGlobal – We Power the Blockchain

CryptoGlobal is a leading Canadian FinTech and blockchain technology company built on a strong core of diversified cryptocurrency mining. Currently, CryptoGlobal focuses on mining Bitcoin, DASH, Ether and LiteCoin — using a mix of custom-tuned mining technologies. Learn more about CryptoGlobal at www.cryptoglobal.io

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking information and forward-looking statements within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. These forward-looking statements may not be appropriate for other purposes. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: information pertaining to strategy, plans, or future financial performance, such as statements with respect to future revenues, EBITDA, cash flows and other statements that express management's expectations or estimates of future performance, the anticipated timing of future cash flow and positive EBITDA, the number of machines that are expected to be running by various dates and future operating capacity.

These forward-looking statements are based on reasonable assumptions and estimates of management of the company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: that market prices will be consistent with expectations, the continued availability of capital and financing, general economic, market and business conditions will be consistent with expectations, fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in the prices of cryptocurrencies mined by the company; historical prices of cryptocurrencies and the ability of the company to mine cryptocurrencies consistent with historical prices; higher operating costs; the presence of laws and regulations that may impose restrictions on the ability of the company to operate it business; the speculative nature of cryptocurrency mining and blockchain operations; changes in project parameters as plans continue to be evaluated; and those factors described under the heading "Risks Factors" in the company's most recent filing statement dated January 17, 2018 available on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the company believes, or believed at the time, to be reasonable assumptions, the company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the 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 CryptoGlobal Corp.

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