VANCOUVER, Oct. 17, 2018 /CNW/ - Katipult Technology Corp. (TSXV:FUND and FRA:K10) ("Katipult" or the "Company"), an industry leading and award-winning fintech company, is pleased to announce it has secured funding of up to $120,000from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), to support the development of an "Investor License" application on a decentralized network. The Investor License intends to address all mechanisms of investor onboarding and auditability necessary for regulatory compliance. The project will be funded over an eight month period, starting September 1, 2018.
"Investor onboarding is a massive pain point and redundant process for the investment industry. Know Your Client (KYC), suitability, and related requirements create significant friction to complete investment transactions and our management believes this specific area is a compelling application to evolve the Katipult product using blockchain technology," said Brock Murray CEO of Katipult. "Having already adapted our platform to a multitude of different regional, federal and international regulatory environments, we see our firm as uniquely positioned to deliver the product on a large scale," continued Murray.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the integration of blockchain technologies and potential revenue growth constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company will be able to successfully incorporate blockchain technology, establish a market demand for the product, and increase revenue. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the Company will not be able to successfully integrate blockchain technology, establish a market demand, or successfully grow revenues. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.