HomeTechnologyArtificial intelligenceAquarius AI Inc. Provides Corporate Update

Aquarius AI Inc. Provides Corporate Update

Vancouver, British Columbia–(Newsfile Corp. – Nov 23, 2022) – Aquarius AI Inc. (CSE: AQUA) (FSE: 4G5N) (the “Company” or “AQUA“) is pleased to provide a company update in connection with its recent acquisition (the “Jellyworks acquisition“) of Jellyworks Inc. (“Jellyworks“).

Jellyworks Gaming Guild

AQUA recently completed the acquisition of Jellyworks, as announced in Company’s press release dated November 2, 2022. In addition to running a profitable and state-of-the-art Bitcoin mining operation, Jellyworks also operates a revenue-generating Play-2-Earn gaming guild (the “Jellyworks Gaming Guild“). In Play-2-Earn gaming, players can earn digital tokens as a reward for playing a game of skill, e.g. Play-2-Earn Poker. These digital tokens can be exchanged for fiat currency through certain exchanges or kept in digital format Given the current trend of Web3 tokenization, the opportunity is opened for everyone in the world to play games and earn an income.

Jellyworks Gaming Guild works by purchasing NFTs required to play certain Play-2-Earn games. Jellyworks then delegates these NFTs to players to use in these games. All generated rewards will be split 50/50 between the player and Jellyworks. Jellyworks has spent the past year investing in building, developing and running the Jellyworks Gaming Guild. The company plans to further develop the Jellyworks Gaming Guild as an extension of AQUA’s NFT strategy. Looking ahead, AQUA is looking to attract significantly more players as part of this expansion.

Owen Sagness, Director of Operations at AQUA stated: “We are excited to welcome the Jellyworks team to AQUA. We are extremely impressed with what they have achieved and feel that together Jellyworks and AQUA can grow quickly and achieve even greater success. While we remain cautious about expanding the Bitcoin mining business due to market conditions, we see Jellyworks as a growth area of ​​the business that we believe will be the primary use case for Web3 and tokenization of the Internet.

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Alex Lineton, Chief Executive Officer of Jellyworks stated: “We were thrilled to be part of a team that shared the excitement of Jellyworks and the paradigm shift Play-2-Earn gaming brings. I believe that by having our operations within a company like AQUA, we can accelerate our plans and consolidate our first mover advantage in the space.

The company will continue to provide updates in due course as the Jellyworks Gaming Guild continues to expand.

For more information:

Aquarius AI Inc.

Eugene Valaitis Investors@AquariusAI.ca

(604) 265-7511

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release constitute “forward-looking information” as that term is defined under applicable Canadian securities laws. The words “may”, “should”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, ” estimates,” “expect” and similar expressions related to the Company, including statements regarding Jellyworks and the Company, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information, including without limitation: Jellyworks operations and future plans; the integration of the Company’s and Jellywork’s businesses; any anticipated operational efficiencies or synergies; the continued operation of the company’s bitcoin mining facilities in a profitable manner; the extent to which players within the Jellyworks Gaming Guild earn rewards by playing Play-2-Earn games with the company’s or Jellyworks’ NFTs (or not at all); the expected value of any rewards earned; expected daily earnings in shares from the player’s activities within the Jellyworks Gaming Guild, if any; the ability of customers to continue to earn above average income playing Play-2-Earn games within the Jellyworks Gaming Guild, if any income at all; and the company’s continued development and expansion of the Jellyworks Gaming Guild, including its ability to attract more players. Such statements reflect the Company’s current beliefs and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements expressed or implied by such forward-looking information to differ from those described herein should one or more of these risks or uncertainties materialize. Examples of such risk factors include: the risk that the integration of the Company’s and Jellywork’s businesses will not deliver expected operational efficiencies or synergies; credit; market (including stocks, commodities, currencies and interest); liquidity; operational (including technology and infrastructure); reputation; insurance; strategic; regulating; legal; environment; capital adequacy; the general business and economic conditions in the regions in which the Company operates; the Company’s ability to execute on key priorities, including the successful completion of acquisitions, retention of businesses and strategic plans, and to attract, develop and retain key executives; difficulty integrating newly acquired companies; the ability to implement business strategies and pursue business opportunities; malfunctions or attacks (including cyber attacks) on the Company’s information technology, Internet, network access or other voice or data communications systems or services; the development of various types of fraud or other criminal behavior to which the company is exposed; failure by third parties to fulfill their obligations towards the Company or its affiliates; the impact of new and changes in or application of current laws and regulations; decline in reimbursement rates; a new business model; dependence on major suppliers; the overall difficult process environment; increased competition; higher funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to continue operations; critical accounting estimates and changes in accounting standards, policies and methods used by the company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; as well as those risk factors discussed or referenced in the Company’s disclosure documents filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the business in an unexpected way, or should assumptions underlying the forward-looking information prove incorrect, actual results or events could differ materially from those predicted or predicted. Such forward-looking information is expressly qualified in its entirety by this warning. In addition, the company assumes no responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information in this press release is made as of the date of this press release and the Company assumes no obligation to publicly update or revise any forward-looking information, except as required by applicable law.

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The CSE has not reviewed, approved or disapproved of the contents of this press release

To view the source version of this press release, visit https://www.newsfilecorp.com/release/145399

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