TORONTO, Feb. 26, 2018 (GLOBE NEWSWIRE) — (TSX Venture:FTI) FTI Foodtech International Inc. (“FTI” or “the Company”) has signed a consulting agreement with Christopher Kitze, of Mill Valley, CA, USA and a licence for FLASH improvements and related software.
FTI has acquired perpetual worldwide licencing rights to all non-public domain, proprietary FLASH improvements, including the remittance applications, FLASHWeb Wallet and FLASH Key Server. Mr. Kitze will assist FTI with future development of blockchain technology and marketing of the FTI services and assist in acquisition of FLASH coins for a period of 2 years. In exchange for the consulting and technology, Mr. Kitze will receive 250,000 FTI shares and 250,000 warrants, exercisable at $0.50 for one share, with a two-year expiry.
Mr. Kitze’s experience in the blockchain industry will be a great asset to FTI in the development and integration of blockchain applications and FLASH with the barter and food industries.
The Company aims to close the private placement, announced December 29, 2017, in the coming weeks.
After conducting its due diligence of iDroid USA Inc., the Company has decided to not move forward with the June 23rd, 2017 MOU.
The TSX Venture Exchange Inc. has not approved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, contact: William Hullah, President, FTI at (416) 444-1058.