Mr. Charles Desjardins reports
PISTOL BAY TO CREATE BLOCKCHAIN SUBSIDIARY
Pistol Bay Mining Inc. is in discussions to create a wholly owned subsidiary focused on blockchain applications for mining and resource company management. Pistol Bay will be leveraging the work of other application program interface (API) companies to build a suite of blockchain products to address needs that are particular to the data management and security of mining and oil and gas companies. It is expected that many of these blockchain products could have crossover to other industries.
These blockchain products may include, but will not be limited to, focused Ethereum smart contracts, security, claim management, resource management and the tokenization of resources.
Charles Desjardins, president and chief executive officer of Pistol Bay, stated: "As blockchain technology is adapted at an ever-increasing rate by individuals and industry worldwide, we believe a unique opportunity exists to lead the mineral development industry by building a resource-focused blockchain company to facilitate modern mining-related transactions. This represents an exciting opportunity for the shareholders of Pistol Bay and as a founder of the original Investment.com portal, I have always recognized the need to be early in adapting to new technologies."
Subsequent information will be released as details are finalized. Pistol Bay remains committed to its exploration efforts at Confederation Lake and is not pursuing a change of business.
About Pistol Bay Mining Inc.
Pistol Bay Mining is a diversified junior Canadian mineral exploration company with a focus on zinc and base metal properties in Confederation Lake in Ontario. The company is also creating a subsidiary for resource-driven blockchain applications.
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