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December 2017
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Online Retail Startup Benebit Uses Blockchain Technology to Disrupt the Online Shopping Industry, ICO Commences Jan. 22, 2018

By Benebit

Online Retail Startup Benebit Is Using Blockchain Technology to Disrupt the Online Shopping Industry; The Service Uses an App and Physical Card to Allow Users to Collect Loyalty Points, Exchange Them for Benebit Tokens, and Spend Them at All of Your Favorite Online Stores

TORTOLA, BRITISH VIRGIN ISLANDS / ACCESSWIRE / December 12, 2017 / British Virgin Islands-based retail startup Benebit is making big plans to take the online retail market by storm. Benebit is launching a platform that will offer global consumers the chance to convert loyalty points into Benebit Tokens, which are then used to buy online goods similar to fiat currency. The platform will look to do away with the aging system that requires retailers to carry numerous and separate loyalty cards, replacing them with one single card and an application that will cover thousands of businesses across the globe. The Benebit crowdsale will give retail and cryptocurrency enthusiasts an opportunity to support the company from the ground floor and hold Benebit tokens for future use. The ICO accepts numerous cryptocurrencies and commences on January 22, 2018.

It is no secret that e-commerce has already disrupted shopping in a major way. From books to clothes and even groceries, consumers are choosing utility and time savings by taking their business online. This has revolutionized the way consumers buy products and services, benefiting retailers and consumers. Retailers see substantial savings on brick and mortar operations while customers save both time and money. However, online retailers are now facing the same issue that plagued traditional retailers, specifically in the issues around how they offer efficient customer loyalty and retention programs.

So How Are Retailers Addressing Customer Loyalty?

Cashback and loyalty programs are a way to incentivize customers by giving them an amount of cash for every purchase they make. The main idea is to create a better consumer-merchant relationship by facilitating consumers and making them feel valued. And, naturally, consumers are inclined to participate as well. According to a survey by Loyalty360, 83 percent of consumers participate in at least one loyalty program, and 13 percent participate in more than five. With that being said, the efficiency of those programs are tragic. Most programs are too slow and absolutely illiquid, as a consumer can only spend his or her “points” on the same retailer, as well as losing them after a certain period.

Disrupting Online Shopping Through Blockchain Technology

With both retailers and consumers in mind, aims to revolutionize the world of cashback and loyalty programs through the adoption of blockchain technology. How? Benebit will replace the point system from the last century with the Benebit Token, allowing users to exchange their Benebit Tokens into any major cryptocurrency or fiat currency. Now, customers do not have to worry if they are in the UK or Europe, as they will always be able to shop from their favorite brands all over the world using one single Benebit Token (BNE).

How Does It Work?

For consumers, the startup will be introducing the Benebit App, as well as the Benecard in 2018. While shoppers can use the app to find brands, shop and store their points, the Benecard solves the longstanding problem of countless loyalty cards. The card is essentially a hardware wallet for all cashback points, which can be spent anywhere as the proprietary technology allows users to use it as fiat money or a credit card.

From a business point of view, Benebit empowers retailers with a Point of Sale System, which not only collects customer shopping data but also allows for management of internal processes such as inventory tracking, staff payroll, and vendor listing. In addition, Benebit’s proprietary technology lowers retailers’ transaction fees as intermediaries are cut out and all transactions happen on the Benebit network. Last but not least, brands are able to interact with customers (and vice-versa) through the Benebit app, increasing engagement.

Crypto Hype or an Actual Use Case?

While there are countless blockchain projects built around nothing more than a few hype words, Benebit looks to have an actual use case where the benefits of the blockchain technology add real value to both businesses and consumers.

Join the Benefit ICO by visiting –
Read the official Benebit Whitepaper Here –
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Media Contact

Contact Name: Robert Davis
Contact email:
Location: Tortola, British Virgin Islands

Benebit is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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SOURCE: Benebit

ReleaseID: 484157

Sokoman Iron Corp. Closes Second and Final Tranche of Financing

Sokoman Iron Corp. Closes Second and Final Tranche of Financing

Puslinch, Ontario (FSCwire)Sokoman Iron Corp., TSX-V SIC (the “Company” or “SIC”) is pleased to announce that, further to a new release dated November 27, 2017, it has filed documents with the TSX Venture Exchange (“the “Exchange”) seeking approval to close the second and final tranche of its previously announced non-brokered private placement (the “Placement”) for additional gross proceeds of $103,900, consisting of 200,000 non flow-through units at a price of $0.05 per unit for gross proceeds of $10,000 and 1,565,000 flow-through units at a price of $0.06 per unit for gross proceeds of $93,900. The aggregate proceeds raised to date total $707,900. The Placement is subject to the final acceptance of the Exchange.

Each flow-through unit under the Placement consists of one flow-through common share and one half warrant. Each full warrant will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of $0.09 during the 24 months from the closing date.

Each non flow-through unit under the Placement consists of one non flow-through common share and one whole warrant. Each warrant will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of $0.07 during the 36 months from the closing date.

All securities issued in the Placement are subject to a four month hold period. In connection with the Placement, the Company will issue 625,500 finders warrants having the same terms as the non-flow through warrants issued under the Placement, and pay finders fees and other commissions totaling $32,130.

The Placement was effected with three insiders of the Company subscribing for 508,835 Units for aggregate subscription proceeds of $26,442, that portion of the financing a “related party transaction” as such term is defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on exemptions from the formal valuation and minority approval requirements set out in MI 61- 101. The Company is exempt from the formal valuation requirement of MI 61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market value of the transaction, insofar as it involves the interested party, is not more than the 25% of the Company’s market capitalization, and no securities of the Company are listed or quoted for trading on prescribed stock exchanges or stock markets. Additionally, the Company is exempt from minority shareholder approval under sections 5.7(1)(a) and (b) of MI 61-101 as, in addition to the foregoing, (i) neither the fair market value of the Flow-Through Units nor the consideration received in respect thereof from interested party exceeds $2,500,000, (ii) the Company has one or more independent directors who are not employees of the Company, and (iii) all of the independent directors have approved the transaction. Material change reports were not filed 21 days prior to the closing of the financing because insider participation had not been established at the time the financing was announced.

The Company plans on using the proceeds from the Placement on the Moosehead and Clarks Brook Gold Projects in Central Newfoundland as well as for general working capital. The acquisition of the Moosehead Gold project is subject to approval by the Exchange. The Company will use best efforts to ensure that such Canadian Exploration Expenses qualify as a “flow-through mining expenditure” for purposes of the Income Tax Act (Canada), related to the exploration of the Company’s exploration projects.

Sokoman Iron Corp. is a discovery-focused company with projects in Newfoundland & Labrador, Canada. The Company’s primary focus is its portfolio of gold projects in Central Newfoundland including the recently acquired (pending Exchange approval) Moosehead Gold Project, the Clarks Brook Project, and the East Alder/Crippleback Lake Projects, all straddling major gold bearing structures in the region. The company also has a 100% interest in the Iron Horse Project in the eastern Labrador Trough, and an early stage antimony (Sb) property in central Newfoundland.

This news release has been reviewed and approved by Timothy Froude, P. Geo., a “Qualified Person” under National Instrument 43-101 and Interim CEO for Sokoman Iron Corp. For further information please contact Timothy Froude at 709-765-1726, or by email at

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.

Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Iron Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Iron Corp.

To view this press release as a PDF file, click onto the following link:

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Pablo Soria de Lachica – Discusses Impact of Mexico Earthquakes on Local Property Market

By Pablo Soria de Lachica

MEXICO CITY, MEXICO / ACCESSWIRE / December 12, 2017 / Mexico was struck by three earthquakes in the month of September, with the 7.1 magnitude earthquake that struck Mexico City on September 19 causing widespread damage to municipal infrastructure, in addition to over two hundred deaths. The capital is home to 27% of the country’s population and generates 17% of its national gross domestic product. As the city implements reconstruction plans, Pablo Soria de Lachica points to improved building codes since the 1980s as a key factor in the reduced number of casualties relative to the capital’s infamous 1985 quake, in which 10,000 people lost their lives.

According to the LA Times, city officials reported the earthquake affected 7,649 properties, of which 321 buildings are now considered uninhabitable. Shortly after the disaster, the city announced a 3 billion pesos reconstruction plan, making financial aid and loans available to residents commensurate with degrees of damage. The destruction of property caused demand for housing in neighborhoods surrounding affected areas to rise by 50%. In contrast, the value of buildings in damaged quarters declined significantly. Although the impact of the earthquake will alter short term supply and demand in the regional housing sector, market fundamentals will drive longer term growth, according to Pablo Soria de Lachica.

Before the earthquake, demand outpaced supply for housing in the capital. Nasdaq reports that of the 46,000 homes under construction this year, only 20,000 are expected to be completed by 2019. In contrast, up to 120,000 buyers seek homes per year in the region. For the first half of 2017, the Financial Times reported that house prices in Mexico City rose 7.6% year-on-year on favorable supply and demand trends. Policy decisions have contributed to this imbalance, with zoning laws restricting home construction in suburbs around the capital. Even as the disaster slows residential construction in the city, some new spending will be driven by renovations as property owners rehabilitate and reinforce older buildings.

The outlook for Mexico City’s economy remains positive due to several trends. The region is the main hub of economic activity in the country, receiving significant financial support from the national government to facilitate commerce. It is a magnet for international property developers, who have invested hundreds of millions of dollars in residential and hotel development projects. Finally, tourism continues to boom, attracting not only American and European visitors but also an increasing number of tourists from other regions in Mexico.

Pablo Soria de Lachica is an expert broker in foreign exchange transactions, offering a unique perspective as well as professional guidance to clients in international trading. He is also a lead collaborator with Kartoshka, a marketing firm at the forefront of the latest technologies in sales, telemarketing, and customer support. Soria de Lachica received a Masters of Business Administration from the Universidad Tecnológico de México (UNITEC). He is an avid supporter of community projects with an environmental focus, and a contributor to organizations such as America-Israel Cultural Foundation and the Jewish Federation of Greater Phoenix.

Pablo Soria de Lachica – Foreign Exchange Specialist:
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Pablo Soria de Lachica Discusses Ways to Move from the Domestic Market to the Forex Market:

Contact Information:

SOURCE: Pablo Soria de Lachica

ReleaseID: 484150

Nick Kohlschreiber – Marketing Guru Led Adboom Towards Effective Marketing Strategies

By Nick Kohlschreiber

ORANGE COUNTY, CA / ACCESSWIRE / December 12, 2017 / Because the US economic performance is consistently ranked #1 internationally by the IMD World Competitiveness report, businesses atop this highly-competitive marketplace must consistently adapt and evolve their sales and marketing strategy to ensure profitability. Veteran entrepreneur Nick Kohlschreiber advises small, medium, and large-scale business operators to consistently assess emerging trends, communications channels, and technologies and other industry player behaviors with an aim to convert this data knowledge into “refreshed” and highly targeted marketing campaigns.

In 2017, small business technology spending in North America topped $658USD – an 18% increase from levels reported in 2010. A majority of this investment is diverted towards IT services which can vary from bespoke customer relationship management platforms or mobile apps to subcontracted specialist firms. Nick Kohlschreiber explains that innovative service-providers such as can revitalize client business marketing solutions through the application of proprietary technologies and software infrastructure designed specifically for their defined task and relevant consumer base. Kohlschreiber urges forward-thinking companies to anticipate disruptive technologies (such as the introduction of smartphones) by engaging as much as possible with current trends and technologies, or by enlisting the services of professional marketing solution suppliers who have far-reaching industry perspective.

Business Insider reports that customer loyalty is a critical component of increased sales, with 95% of a retailer’s future revenue being generated by as little as 5% of its existing customer base. This indicates that a highly important part of a company’s strategy is to target marketing for repeat customers (and not only for new leads). Nick Kohlschreiber recommends a multichannel, personalized approach that suggests relevant purchases (according to demonstrated personal interests), rewards loyalty (through tiered or VIP programs), and engages clients with alternatives if they are not satisfied with initial transactions. An important part of this approach is to regularly test and research new methods in limited locations (to reduce cost) before expanding a wide scale strategy based on collected data. According to Market Force, 81% of U.S. online consumers are influenced by social media posts by their friends (even more than by those directly posted by followed brands). This statistic points to the undoubtable power of social media influencers and brand ambassadors – in other words, customer referrals. Nicholas Kohlschreiber sees this factor as a key to developing an effective marketing campaign and sales increases.

Nicholas Kohlschreiber is a California-based media company owner and serial entrepreneur, overseeing hundreds of employees and providing invaluable insight and guidance to thousands of clients. Having spent three years in the esteemed Martin Paul Executive Research Program prior to developing and expanding a consortium of lucrative businesses (including solar energy, customer logistics, and marketing solution agencies), Kohlschreiber is an avid businessman recognized for his ingenuity and ability to generate organic success. In his spare time, he is a dedicated philanthropist and mentor to those who can benefit from his knowledge and acumen.

Nick Kohlschreiber – Expert in Modern Marketing:
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Contact Information

SOURCE: Nick Kohlschreiber

ReleaseID: 484152

NAVI EQUITY ALERT: The Law Offices of Vincent Wong Reminds Investors of Commencement a Class Action Involving Navient Corporation and a Lead Plaintiff Deadline of December 15, 2017

By The Law Offices of Vincent Wong

NEW YORK, NY / ACCESSWIRE / December 12, 2017 / The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of investors who purchased Navient Corporation (“Navient”) (NASDAQ: NAVI) securities between February 25, 2016 and October 4, 2017.

Click here to learn about the case: There is no cost or obligation to you.

According to the complaint, throughout the Class Period, the Company issued materially false and misleading statements and/or failed to disclose that: (1) Navient engaged in deceptive practices to facilitate the origination of subprime loans; (2) Navient committed unfair and deceptive acts by steering student borrowers into payment plans that postponed bills, allowing interest to accumulate, rather than helping them enroll in income-driven repayment plans; and (3) as a result, Navient’s public statements were materially false and misleading at all relevant times.

If you suffered a loss in Navient, you have until December 15, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Vincent Wong, Esq. either via email, by telephone at 212.425.1140, or visit

Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.


Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880

SOURCE: The Law Offices of Vincent Wong

ReleaseID: 484143

Northern Sphere Mining Corp. Samples Elevated Copper-Molybdenum Levels from Ongoing Soil Geochemical Survey at Its Black Diamond Property in Arizona, Targeting Porphyry Copper Style Deposits

Toronto, Ontario–(Newsfile Corp. – December 12, 2017) – Northern Sphere Mining Corp. (CSE: NSM) (OTCQB: NSMCF) (“Northern Sphere” or the “Company”) ‎is pleased to provide an update on its Geochemical Survey being conducted on its Black Diamond Property which borders the Porphyry Copper Mining District in Miami, Arizona.

To view an enhanced version of Figure 1, please visit:

Figure 1: Miami-Globe, Arizona — NSM’s Black Diamond Claims

Northern Sphere has undertaken an intensive Geochemical Survey over its 3,800-acre Black Diamond Property, located 12 km (8 miles) north-east of Freeport McMoRan’s Open Pit Copper Operations. The Geochemical Survey recovered systematic soil samples on a 50-metre spaced grid. Each sample was submitted to ALS Laboratories for a 51 Element Aqua-Regia digestion and ICP-MS finish.

The survey currently comprises of more than 600 samples from three prospective areas encompassing approximately 370 acres: (i) the Richmond Basin and site of historic underground silver mines, (ii) Buckeye South and (iii) Black Copper where previous outcrop sampling (outcrop samples were grab samples selectively taken within the mineralized structure and therefore are not representative of the entire mineralization) yielded copper values up to 7% (see Trueclaim Exploration Inc. press release of September 29, 2011).

Initial results from the first 250 geochemical samples taken in the Richmond Basin area delineated areas of anomalous (as defined by the values of the sample population greater than the 90th percentile) copper with some significantly anomalous results (exceeding the 98th percentile) as 1,040 parts per million (ppm), 522 ppm, and 340 ppm. Areas defined by anomalous silver were also noted with values reported as high as 344 grams per tonne (g/t) (see the Company’s prior press release of November 11, 2017).

Significantly anomalous copper, zinc and silver values approaching grades at which some deposits are mined is very encouraging. Previous exploration undertaken on the property limits the Company’s ability to gauge the background values for potential economic minerals and their relative proximity to the source bedrock.

Interpreting anomalous trends will be aided by exploration techniques and services which combine Hyper-Spectral Imaging, Geophysical Survey re-inversion, Digital Geologic Modelling, Artificial Intelligence which utilizes machine learning and mineral related algorithms to optimize mineral targeting.

A second soil survey area consisting of 224 samples collected from the Buckeye South area returned exceptional results defining areas with both anomalous copper (values greater than 123 ppm) and zinc (with value highs of 7,660 ppm, 4,820 ppm, and 4,770 ppm). Figure 2 depicts some of these anomalous trends.

To view an enhanced version of Figure 2, please visit:

Figure 2: NSM Black Diamond Soil Geochemical Survey

More recent geochemical soil sampling from the Black Copper area yielded excellent results. Forty-six percent of the 135 samples collected at this location have copper results that exceed 100 ppm (or 100 g/t). Notable copper values that were strongly anomalous (greater than 97th percentile) analyzed from this location resulted in 634 ppm, 503 ppm and 496 ppm.

Manganese levels indicated from the soil survey were anomalous with all sample results exceeding 100 ppm. Soils samples collected from the Black Copper area all had manganese levels exceeding 200 ppm (72 soil samples were in excess of 1,000 ppm or 0.1%). Manganese, which is often found in association with other notable metals such as lead, silver, zinc, copper and vanadium has been mined in the Globe-Miami, Arizona area. Although considered a “strategic mineral” in the United States, Manganese is predominantly sourced outside the United States, primarily from China and South Africa.

With ongoing Geochemical Survey activities, the Company anticipates that it will continue to identify significant metal anomalies on the property. Steve Gray, Vice President of Northern Sphere, states, “One of the more encouraging geochemical trends is the correlation between results indicating significantly elevated copper in association with elevated molybdenum levels, two metals found in association with porphyry copper environments.”

In support of a potential porphyry environment, O.M. Bishop mapped andesite porphyry in the Richmond Basin, while researching for his Master’s thesis, ‘Geology and Ore Deposits Richmond Basin, Gila County’.

Mr. Gray adds, “The Geochemical Survey covers only 10% of the Black Diamond Property and already we have encountered various significant anomalous metals. The property is located up gradient from Freeport McMoRan’s porphyry copper mines ensuring soil geochemistry results are local to Northern Sphere’s mineral claims.”

Quality Control

Northern Sphere’s quality control and assurance program includes the use of an independent certified lab, ALS Laboratories (“ALS”) of Tucson, Arizona. All ALS geochemical hub laboratories are accredited to ISO/IEC 17025:2005 for specific analytical procedures. The ALS quality program includes quality control steps through sample preparation and analysis, inter-laboratory test programs, and regular internal audits. It is an integral part of day-to-day activities, involves all levels of ALS staff and is monitored at top management levels.

Qualified Persons

Steve Gray, P.Geo., Vice President of Northern Sphere, has reviewed, prepared and approved the scientific and technical information in this press release and is Northern Sphere’s “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Northern Sphere Mining Corp.

Northern Sphere is dedicated to growth through the acquisition and development of mining assets with an emphasis on gold, silver and copper. The Company intends on generating robust mining projects through the use of cutting-edge exploration technologies to assist with more precise mineral targeting on its assets. Headquartered in Toronto, Ontario, Northern Sphere has a strong project pipeline of properties with a focus on gold, silver and other metal production in pro-mining jurisdictions.

Cautionary Statements

This press release contains forward-looking statements which reflect Northern Sphere’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Northern Sphere disclaims any obligation to update these forward-looking statements other than as required by applicable securities laws.

For further information, please contact:

A. John Carter
Chief Executive Officer
Northern Sphere Mining Corp.
Tel: 905-302-3843

Molecular Future Presents at the Blockchain in Chicago Event

By Molecular Future

CHICAGO, IL / ACCESSWIRE / December 12, 2017 / The Blockchain in Chicago event was a milestone for Molecular Future as a company, as it signified the beginning of the promising blockchain start-up in the public sphere. In the days leading up to the event, the team engaged with important members of the blockchain community; answered questions they may have had, and discussed various aspects of the industry and the technology as a whole.

Jochen Renz, Managing Partner of Mobility Consulting, and Jason Tso, CEO of Molecular Future spoke in depth about Molecular’s structure, and how it will operate, among other things. Mr. Renz has over 30 years of extensive experience in the field of systems engineering, software, consultancy, and advisory. Notably, Mr. Renz has been acting as an advisor for IOTA since June this year.

Jochen Renz (left) | Jason Tso (right)

Attending the meetup, were also members of the Australian Hcash team. Hcash is providing its state-of-the-art, full blockchain solution for Molecular Future’s platform.

The Molecular team then went to the Microsoft Technology Center; and met with Imran Khan, Business Development Manager at Microsoft’s Enterprise Blockchain Solutions team. They discussed and established a preliminary collaboration plan, including the sharing of data between the two platforms, and the exchange of information between customers’ KYC data, to ensure the safety and security of the platforms.

The Molecular Future team at Microsoft Tehnology Center in Chicago

On Friday, December 8th, Hyatt Centric opened its doors to the public, as Alexandra Prodromos, Director of Operations at the Chicago Blockchain Center served as the host for Blockchain In Chicago Winter Gala. The event featured entrepreneurs of the blockchain industry, Molecular Future, as the esteemed international guests, and a keynote speech from blockchain expert and technologist, Taylor Gerring.

Molecular Future, CBP Poster

The Molecular Future team set up a booth in the foyer, to hand out information leaflets, the responses were overwhelmingly positive!

The Molecular Future team’s presentation began with an explanation of the blockchain technology and cryptocurrency, specifically on Bitcoin. It also illustrated the real-world use cases of the blockchain technology, even at its current, very early stage of adoption.

Next, the team explained how Bitcoins and other cryptocurrencies could be tangible assets. The team demonstrated with examples of how digital assets can represent physical assets. These representative assets have been around for decades, in various forms. Blockchain technology cannot only speed up these systems but also make them more efficient and fault tolerant than any current technologies can, says the Molecular team.

The third and final point of Molecular Future‘s presentation addresses the enormous growth in the number of companies conducting ICOa and token sales, which in turn, led to the growing number of cryptocurrency assets that need to be managed, especially for an investor with a diverse portfolio. The team quoted Forbes detailed study “Inside the Meteoric Rise of ICOs” to illustrate what contributed to the value proposition of ICOs and tokens.

CEO, Jason Tso of Molecular Future closed the presentation with his speech. He then answered questions and took the time to speak with attendees, both those still learning the fundamentals of blockchain technology and those who have extensive experience in the industry. Molecular Future was seen as one of the most promising projects presented at the event; and received numerous compliments from attendees.

Jason Tso, CEO of Molecular Future Speaks at the Blockchain in Chicago event

About Molecular Future

Molecular Future is an innovative financial investment service company, a one-stop shop for digital asset investment services. It is jointly funded by Molecular Group, HBCC, XBTING Fund, HCASH Foundation and ColliStar Capital. Molecular Future provides users with blockchain -related investment products, institutional-grade market trading software, media information, project archives and community services. It will guide the users to navigate through the blockchain and digital asset investment fields. For more information, check out our articles on Medium:

Molecular Future, and why it matters to you
Our Team
Our Advisors
Our Backers

Media Contact:

Gary Liu

SOURCE: Molecular Future

ReleaseID: 484141

SEC Charges Biopharmaceutical Company With Failing to Properly Disclose Perks for Executives

Washington D.C.–(Newsfile Corp. – December 12, 2017) – The Securities and Exchange Commission today charged a biopharmaceutical company with committing a series of accounting controls and disclosure violations, including the failure to properly report as compensation millions of dollars in perks provided to its then-CEO and then-CFO.

According to the SEC, Tennessee-based Provectus lacked sufficient controls surrounding the reporting and disclosure of travel and entertainment expenses submitted by its executives. The order further finds that Provectus’ former CEO, Dr. H. Craig Dees, obtained millions of dollars from the company using limited, fabricated, or non-existent expense documentation, and that these unauthorized perks and benefits were not disclosed to investors. Provectus’ former CFO, Peter R. Culpepper, also allegedly obtained $199,194 in unauthorized and undisclosed perks and benefits.

The SEC separately charged Dees in federal district court in Knoxville, Tennessee, alleging that, while Dees was Provectus’ CEO, he treated the company “as his personal piggy bank.” According to the complaint, Dees submitted hundreds of falsified records to Provectus to obtain $3.2 million in cash advances and reimbursements for business travel he never took. Instead, he concealed the perks and used cash advances to pay for personal expenses such as cosmetic surgery for female friends, restaurant tips, and personal travel.

“Reimbursement of travel and entertainment expenses, and other perks paid to executives, can be material information, and companies must ensure that the perks they pay for executives are properly recorded and disclosed in public filings,” said Stephanie Avakian, Co-Director of the SEC’s Enforcement Division. “Provectus failed to give its shareholders all of the relevant information about how its top executives were being compensated by the company.”

“The SEC’s settlement with Provectus – which does not include any penalty – takes into account the proactive remediation and cooperation by the company’s new leadership. Provectus fired wrongdoers, took other steps to remedy its controls, and provided SEC staff with critical information regarding its former executives’ expense reimbursement abuses,” said Steven Peikin, Co-Director of the SEC’s Enforcement Division.

Provectus and Culpepper consented to separate orders, without admitting or denying the SEC’s findings. They each agreed to cease-and-desist orders, and Culpepper agreed to pay $152,376 in disgorgement and interest, a civil penalty, and to be suspended from appearing and practicing before the SEC as an accountant, which includes not participating in the financial reporting or audits of public companies. The SEC’s order permits Culpepper to apply for reinstatement after three years. The SEC’s complaint against Dees seeks an injunction, disgorgement plus interest, penalties, and an officer-and-director bar. The SEC considered Provectus’ internal investigation regarding Dees and Culpepper, firing of Culpepper, cooperation in the staff’s investigation, as well as its implementation of new controls around reimbursement of travel and entertainment expenses, in determining to accept Provectus’ offer.

The SEC’s investigation was conducted by Brittany Hamelers, Christina McGill, Paul Harley, and Allen Genaldi, and supervised by Timothy N. England and Melissa R. Hodgman. The SEC’s litigation against Dees will be led by Nicholas A. Pilgrim.

IIROC Trade Halt – Millennial Lithium Corp.

Vancouver, British Columbia–(Newsfile Corp. – December 12, 2017) – The following issues have been halted by IIROC:


Millennial Lithium Corp.

TSX-V Symbol:



Single Stock Circuit Breaker

Halt Time (ET)


IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

– 30 –

For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

IIROC Trade Resumption – Millennial Lithium Corp.

Vancouver, British Columbia–(Newsfile Corp. – December 12, 2017) – Trading resumes in:


Millennial Lithium Corp.

TSX-V Symbol:


Resumption Time (ET):


IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

– 30 –

For further information: IIROC Inquiries 1-877-442-4322 (Option 3) – Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.