foundation technologies inc

SoLVBL Solutions Inc. Enters into Software Development and Licensing Agreement with New Foundation Technologies Corp. for Non-Fungible Token

SoLVBL Solutions Inc. (CSE: SOLV) ("SoLVBL" or the "Company"), an innovative cybersecurity company that provides proprietary SaaS based data authentication, is pleased to announce that it has agreed to the terms of a technology licensing and software development agreement with New Foundation Technologies Corp. ("New Foundation"). The Agreement comes with an advance six figure payment from New Foundation to SoLVBL. The licensed patent-pending technology, known as Q by SoLVBLTM, will be utilized as a tool for creating immutable and verifiable non-fungible tokens ("NFTs") utilizing advanced cryptography for product authentication.

Further to a request for proposal ("RFP") from New Foundation and the subsequent announcement on May 13, 2021 of the selection of SoLVBL by New Foundation to provide the technical solution to creating NFTs, the parties entered into negotiations as to the terms of the definitive agreement. Today's announcement is the culmination of the discussions and negotiations between the parties.

"We are pleased that New Foundation has chosen to license Q by SoLVBLTM, our flagship product, for its NFT products and has entrusted our Company to develop its NFT products". In addition, Q by SoLVBLTM can be deployed as either a cloud-based, on premise, or hybrid solution." said Raymond Pomroy, CEO of SoLVBL. This is the first revenue generating agreement for SoLVBL, with work slated to commence with New Foundation later this year. To ensure that New Foundation secured this deal with SoLVBL, it has advanced a six-figure payment to SoLVBL. Raymond Pomroy further noted, "this is an exciting development for SoLVBL. We have been keenly targeting the financial and governmental sectors for our technology, and this new segment that we have not looked in to, demonstrates to us, and to the larger entities we are currently speaking with, that this technology is a potential game changer and now verified by an external company and now a client."

Vicky Arora, New Foundation's Director of Licensing, said, "The impact of the collaboration between New Foundation and SoLVBL and the utilization of SoLVBL's intellectual property is often best realized when it is brought to market by technological leaders like SoLVBL. Not only does technology licensing support our growth plans, but it allows our customers in the U.S.; Europe and our new Asian markets, the opportunity to produce NFT products supported by this technology. One of the big reasons we chose Q by SoLVBLTM during the RFP process was that it has the ability to create immutable and verifiable elements of NFTs, at incredible speeds and scalability and can be viewed as a powerful tool for items such as NFTs so as to provide them to the market confidently, effectively and efficiently."

About New Foundation Technologies Corp.

New Foundation is a USA based technology investment company with offices in Los Angeles, USA and its European office in London, U.K. New Foundation's mission-driven teams are dedicated to creating non-fungible tokens (NFT) for arts, digital arts, gaming, real estate, sports, fashion, and media & entertainment. Through its global partnerships, the company works across various geographic and cultural sectors.

For more information, please visit nftech.info.

About SoLVBL Solutions Inc.

SoLVBL is an innovative cybersecurity company. The Company's mission is to empower, better, faster decisions by developing a universal standard for establishing digital record authenticity. The lead product Q by SoLVBL™, is a proprietary software of the Company, designed to be easy to use and adopt, economically priced and provide digital record authentication at an unprecedented speed. Q by SoLVBL™ allows organizations to establish trust in their data. The Company is currently pursuing the following verticals: chain of custody for digital evidence; including, NG-911, data used in the financial sector, medical applications and critical IoT infrastructures.

For more information, please visit SoLVBL.com

For further information, please contact:

SoLVBL Solutions Inc.
Raymond Pomroy,CEO
15 Toronto Street, Suite 602
Toronto, Ontario, M5C2E3
E: Ray.Pomroy@SoLVBL.com
T: 905.510.7982

Forward-Looking Statements

The CSE has neither approved nor disapproved the contents of this press release.

NEITHER THE CSE NOR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This news release contains "forward-looking information" and "forward-looking statements" (collectively, "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. 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. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the ability of the Company to successfully achieve its business objectives, including, the implementation and success of Q by SoLVBLTM, and expectations for other economic, business and/or competitive, factors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, SoLVBL assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold in the "United States", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86392

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OpenText™ (NASDAQ: OTEX), (TSX: OTEX), the information company, is set to host OpenText World Europe 2024 April 15 18, 2024, with a series of in-person customer conferences taking place in London Munich and Paris . The event series will bring together industry leaders, innovators, and customers to discuss how technology can enable global organizations to build for growth, experience, and sustainability.

OpenText logo (PRNewsfoto/Open Text Corporation)

"AI is revolutionizing the business world as a force multiplier for human potential. At the center of this force is trust and authenticity. Our enterprise customers need trusted, governed data to fuel the possibilities of AI. When advanced cloud technologies are applied securely to private data, organizations can get newfound value from their existing IP and begin to build trust with autonomous decisions from AI," said Mark J. Barrenechea , CEO and CTO, OpenText. "At OpenText World Europe, we look forward to showcasing how our OpenText Aviator solutions are empowering organizations to redefine roles and elevate their employees to be their best."

OpenText World Europe will provide an inspiring overview of the company's next generation developments in the cloud and at the edge. From IOT to AI-persona assistants, the innovations to be unveiled will inspire attendees to reimagine their daily work and experiences. From the CIO to the software quality engineer to the IT service manager to insurance claims agent – tomorrow's workplace will be transformed by bringing together automation and AI to disrupt our traditional cultures of knowledge.

Attendees will also learn more about OpenText Aviator – the company's family of generative AI capabilities that leverage large language models (LLMs) and private data sets to solve specific use cases. Attendees will learn first-hand from experts detailing their experiences implementing industry-specific solutions, and challenges they overcame along the way.

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  • Munich : April 16-17th , MOC – Event Center Messe Munich
  • Paris : April 18th , Maison de la Chimie, Central Paris

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  • A keynote from Chief Product Officer Muhi Majzoub, who will dive into OpenText's cloud roadmap with Titanium X to showcase how security, trust, and governance are at the center of serving our customers.
  • Distinguished customer speakers including Carsten Trapp , CIO, Carl Zeiss , set to take center stage in Munich , and Leon Van Niekerk , Senior Manager of Test Center of Excellence, Pick-N-Pay, presenting in both London and Paris , will demonstrate how their work with OpenText has propelled their organizations forward and provide their unique industry perspectives on the future challenges and opportunities presented by AI.
  • Guest speaker Bertrand Piccard, the force behind Solar Impulse, the first airplane to fly around the world without a drop of fuel, will highlight the environmental protection goals of his recently launched World Alliance for Efficient Solutions, sharing how he envisions ecology through the lens of profitability, promoting clean and profitable solutions that are "logical" more than just "eco-logical".
  • Breakout sessions featuring updates on the combination of Aviator with each of the OpenText clouds – AI & Analytics, Content Services, Business Network, Digital Experience, Cybersecurity, IT Operations Management (ITOM) and Application Delivery Management (ADM).
  • Turbo talks that dive into the market trends, challenges, and areas of strategic interest that matter most to organizations in Europe.
  • Interactive labs offering the opportunity to experience the latest OpenText innovations, complete training courses, and contribute to product roadmaps.
  • Extensive networking opportunities to connect with OpenText experts, partners and industry peers throughout all the events.

Registration is now open, and the full agendas are available for OpenText World Europe – London , Munich and Paris . Come reimagine work with OpenText and chart your journey to the Future of AI.

About OpenText

OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com

Connect with us:

OpenText CEO Mark Barrenechea's blog

Twitter | LinkedIn

Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, readers should note that we may announce information using our website, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our website ( https://investors.opentext.com ). Such social media channels may include the Company's or our CEO's blog, Twitter account or LinkedIn account. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication.

Copyright © 2024 OpenText. All Rights Reserved. Trademarks owned by OpenText. One or more patents may cover this product(s). For more information, please visit https://www.opentext.com/patents .

OTEX-G

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SOURCE Open Text Corporation

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