American Premium Water Corp. (OTC:HIPH) Announces Agreement for Fashion Blockchain Exchange
PLAYA VISTA, Calif., June 07, 2018 (GLOBE NEWSWIRE) -- American Premium Water Corporation (OTC:HIPH) (“APWC”) announces that it has acquired the license to operate FashionCoinX (www.fashioncoinx.com), an exchange utilizing blockchain technology that will provide fashion brands the ability to create their own security backed tokens which will provide special discounts, access to exclusive products, and other loyalty rewards to consumers. These tokens can be traded on the exchange, allowing for a real-time indication of a brand’s power.
“After months of work, I am excited to announce that the Company has completed the transaction to acquire the license and operating rights to FashionCoinX. This is a significant deal for the Company. This acquisition is in line with the strategy that I outlined earlier this year, focusing on strategic M&A that increases shareholder value and topline growth. A lot of companies have nefariously used acquisitions in the blockchain or crypto space to the detriment of their companies. We are not Long Island Tea. FashionCoinX gives the Company the ability to work and collaborate with many great fashion brands.” commented Ryan Fishoff, CEO American Premium Water Corporation.
“FashionCoinX will be managed through the Gents subsidiary. I will personally be overseeing the rollout and business development of the exchange. I will be leveraging my experience and relationships in the fashion industry to have major brands join the exchange. Attracting top brands will be critical to the success of this venture and in line with the Company’s focus on “Brand.Luxury.Lifestyle”. We are in discussions with a number of top luxury brands to join the platform and will announce those in the coming weeks and months.” added Mr. Fishoff.
This acquisition was facilitated in an all-stock transaction. FashionCoinX will generate multiple revenue streams for the Company: listing fees from the brands and ownership of a portion of each brands' tokens. In addition, the Company is working on other avenues to monetize the platform on a transactional basis. As part of the transaction the Company has the option to buy the exchange outright at a later date.
“As we further develop the platform, we will reach out to our retail partners -- Saks, Bloomingdale's, and Nordstrom -- to develop a strategy for their participation in the exchange. There is nothing in the marketplace like this that’s targeting the fashion industry and we have a first to market competitive advantage. In this challenging retail environment, this platform is the innovation that department stores are seeking to win back customers through the amplification of the retail experience. Increasing the number of outlets accepting these tokens would expand the avenues for monetization of this asset.” Mr. Fishoff said.
Blockchain technology utilizes that decentralizes transactions from traditional protocols in banking and technology. According to a recent study from the Market Reports Center, the size of the blockchain industry will grow to $60.7 billion by the year 2024. Most recently, Facebook was reported to have created an internal group that is focusing on utilizing blockchain technology. With this acquisition, the Company joins other companies such as Singlepoint Technologies, HIVE Blockchain Technologies, and Global Blockchain Technologies Corp that have successfully monetized this new and emerging sector.
“The possibilities are endless with FashionCoinX. This in my opinion is a transformative acquisition for the Company that further diversifies the Company and establishes its reputation as a preeminent luxury marketing Company. I also want to thank Blaine Riley and his team and International Monetary for their assistance on this transaction. We would not have been able to complete without their help.” concluded Mr. Fishoff.
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The New York-based Gents is a producer of luxury hats and other fine accessories and apparel. Their line is carried in over 200 retail outlets internationally, including Bloomingdale’s, Nordstrom, and Saks Fifth Avenue.
Visit www.gentsco.com to learn more. https://www.gentsco.com
Safe Harbor Notice Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). American Premium Water Corporation cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. American Premium Water Corporation undertakes no obligation to revise these statements following the date of this news release. Additional details of the Company's business can be found in its public disclosures as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.
This press release is issued on behalf of the Board of Directors by Alfred Culbreth, Founder /Director.
Disclaimer Regarding Forward Looking Statements
Certain statements in this press release, on American Premium Water Corporation’s (“APWC”) website and other oral and written statements made by APWC from time to time are “forward-looking statements”, as that term is defined in Section 27A of the United States Securities and Exchange Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, Forward-looking statements include, without limitation, statements regarding beliefs, objectives, intentions, goals, plans, strategies, financial projections, any other statements regarding the future and any statements that are not purely historical. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and APWC expressly disclaims any obligation to update or revise any forward-looking statements to reflect events or circumstances after the date thereof. All forward-looking statements, whether written or oral and whether made by or on behalf of the APWC, are expressly qualified by these cautionary statements. Forward-looking statements involve risks and uncertainties which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. APWC’s expectations, beliefs and projections are expressed in good faith and are believed by the APWC to have a reasonable basis, but there can be no assurance that management's expectations, beliefs or projections will result or be achieved or accomplished. A variety of factors, many of which are beyond APWC’s control affect APWC’s operations, performance, business strategy and results and could cause the actual results, performance or achievements of APWC to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. For APWC, particular uncertainties arise, amongst others but not limited to and not in any order of importance, from (i) focusing on and allocating more resources on certain target markets (ii) the possibility to raise further equity and debt to fund future growth, (iii) changes in demand for APWC’s products, (iv) performance issues with key suppliers, affiliates, agents, advisors or subcontractors, (v) changes in government changes in laws or regulations to which APWC or its suppliers are subject, including environmental laws and regulations relating to water or water sources and (vi) the inability to complete announced acquisitions, difficulty or unanticipated expenses in connection with integrating acquired businesses and the risk that anticipated synergies and opportunities as a result of acquisitions will not be realized or the risk that acquisitions do not perform as planned, including, for example, the risk that acquired businesses will not achieve revenue projections.
THIS NEWS RELEASE HAS BEEN PREPARED BY APWC’S MANAGEMENT, WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NO SECURITIES REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
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