Ether Capital Corporation maintains financial strength in choppy markets

TORONTO–(BUSINESS WIRE)–Due to the significant decline in digital asset prices and the financial difficulties of some industry players in recent weeks, Ether Capital Corporation (“Ether Capital” or the “Company”) wishes to reassure investors of the financial strength of the Company. Ether Capital expects to release its second quarter financial statements in mid-August. As of June 30, management is confident that it has healthy revenue and liquid assets, which should be well in excess of the company’s operating expense requirements for the foreseeable future.

Currently, the company owns approximately 47% of its Ether and directly owns and controls these assets. Ether Capital has engaged a third-party specialist to operate validators for its staking process while continuing to retain custody of its Staked Ether assets using multi-signature wallets. The Company has no debt secured by these assets, nor any other financial or legal claims against them.

For the first six months of 2022, the gross return on Staked Ether was around 4.6%. The company has yet to redeem any of its Ether Staking rewards since its inception. Such future redemptions of Staking Rewards would generate Canadian dollars which could be used by the Company in its operations or for investment purposes.

The company has re-evaluated its previous guidance to investors regarding staking an additional 10,000 Ether before June 30, 2022 and has decided to postpone further staking due to the likely Ethereum merger delay and recent market downturn. Management plans to stake the additional 10,000 Ether in late fall 2022 or soon after the Ethereum merger, subject to market conditions. Ether Capital’s management team continues to monitor developments in the markets and with respect to market participants and counterparties, and believes that it is well positioned financially and strategically.

About Ether Capital Corporation

Ether Capital (NEO:ETHC) is a leading public technology company with the long-term goal of becoming the central business and investment hub of the Ethereum ecosystem. The company has invested the majority of its balance sheet in Ethereum’s native utility token “Ether” as a core strategic asset and yield-generating instrument. The company is focused on building an institutional-grade financial infrastructure that supports the Ethereum blockchain and delivers enterprise value. Ether Capital’s management team and board are comprised of crypto natives, top venture capitalists and financial market experts, which uniquely positions the company to identify and exploit opportunities in the digital asset ecosystem. For more information, visit http://ethcap.co.

The content of this document is provided for informational purposes only and is not provided in the context of an offer of the securities described herein, nor does it constitute a recommendation or a solicitation to buy, hold or sell any securities. The information does not constitute investment advice and is not tailored to the needs or circumstances of any investor. The information contained in this document is not, and should not be construed as, an offering memorandum, prospectus, advertisement or public offering of securities. No securities commission or similar regulatory authority has reviewed this document and any statement to the contrary is an infringement. The information contained herein is believed to be accurate and reliable, however, we cannot guarantee that it is complete or current at all times. The information provided is subject to change without notice and neither Ether Capital nor any of its affiliates shall be liable for any inaccuracies in the information presented.

Forward-looking information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the Company’s future business objectives and activities, the Company’s future execution of its strategic plan, the timing and implications of the Ethereum merger, the potential for Ether Capital to earn an Ether-denominated return on the portion of its Ether holdings that it devotes to staking and its plans in this regard, Ether Capital’s plans to disclose its second quarter financials in mid-August , the expectation of healthy revenues and liquid assets and the expectation that the company’s revenues and liquidity will exceed the company’s operating expense needs for the foreseeable future, that future redemptions of Ether Staking Rewards would generate dollars Canadian dollars that could be used by the company in its operations or for investment and management plans to stake an additional 10,000 Ether in late fall. 2022 or soon after the Ethereum merger, subject to market conditions. The Company cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Generally, but not always, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “anticipates” or “does not expect”, “is planned”, “budget”, ” expected”, “estimates”, “plans”, “intends”, “pace”, “anticipates” or “does not anticipate”, “believes” and similar expressions or indicates that certain actions, events or results “may”, “could”, “would”, “should”, “could” or “will” be taken, occur or be carried out.

Forward-looking statements are based on information available to management at the time the statements are made, management’s current plans, estimates, assumptions, judgments and expectations. 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. These risks and uncertainties include, but are not limited to: general business, economic, competitive, geopolitical, technological and social uncertainties; recent volatility in digital asset markets; uncertainties regarding the development and acceptance of blockchain technology (including proof-of-stake and Ethereum 2.0), and the Ethereum platform and the expected timing and impact of the Ethereum network upgrade, the impact of the COVID-19 coronavirus outbreak on the Company, and the other risk factors discussed in the Company’s Annual Information Form dated March 24, 2022, and the Risk Factors section in its Prospectus Supplement and Shelf Prospectus. basis and its other filings available online at www.sedar.com. Although the forward-looking information contained in this press release is based on assumptions that the Company believes are reasonable as of 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 this forward-looking information. Further, the Company cautions readers that the information provided in this press release is provided to provide context to the nature of some of the Company’s future plans and may not be appropriate for other purposes. 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.

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