VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 4, 2014) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRE SERVICES
BlackIce Enterprise Risk Management Inc. (CSE:BIS) ("BlackIce" or the "Company") is pleased to announce that it has formally completed the acquisition of the BlackIce "ERA(TM)" and "GCD(TM)" source code and risk analysis software and will have its securities listed for trading on the Canadian Securities Exchange ("CSE") commencing June 4, 2014.
The Company has issued 43,000,000 common shares for the acquisition of the software and 1,000,000 common shares as finders' shares all of which are subject to an Escrow Agreement and are released in accordance with its terms and are also subject to a hold period which expires on October 4, 2014. In addition, the Company issued 650,000 common shares to settle outstanding debts.
The Company has accepted the resignations of Mr. Mike England and Dr. Tom McCandless as Directors and Mr. Randy Saunders as CEO, President and Secretary. The Company has appointed Mr. Mac Kalyan as CEO, President, Secretary and Director; Ms. Judy Kalyan as Chief Information Officer and Director; and Mr. David Taylor as Director. Mr. Robert Jamieson will continue to be CFO and Director and Mr. Randy Saunders will continue as a Director.
The Company has also completed a non-brokered private placement for gross proceeds of $600,000 by way of the issuance of 4,000,000 units at a subscription price of $0.15 per unit. Each unit consists of one common share and one-half of one common share purchase warrant entitling the holder to acquire one share at a price of $0.30 for a period of 24 months from today.
Mr. Mac Kalyan, BlackIce's incoming CEO stated, "We are elated to commence a new and exciting era for the Company in the big data marketplace. Our ERA(TM) and GCD(TM) software products are market ready and we have commenced an aggressive sales campaign to introduce BlackIce to the international banking industry."
About BlackIce Enterprise Risk Management Inc.
BlackIce has developed ERA(TM), a practical, open platform that delivers end-to-end data and analytical standards to support a comprehensive ERM (Enterprise Risk Management) environment and provides all the relevant enterprise-wide risk and finance data elements and calculations required to meet all of the regulatory expectations of Basel (I, II & III); the BCBS Risk Data Aggregation & Reporting (RDA) requirements, and the FSB (Financial Stability Board) Legal Entity Identifier program for monitoring concentration risk. ERA(TM) includes prebuilt, out-of-the-box reports to satisfy all regulatory requirements and an extensive selection of management reports addressing all Risk related issues faced by financial institutions. Also, ERA(TM) includes prebuilt analytics for RWA, Economic Capital, CVA, VaR, Stress Testing and modeling.
The Governance & Compliance Database (GCD(TM)) is an application that allows financial institutions to assess adherence to Minimum Regulatory Requirements or to requirements specific to the institution (e.g. the Risk Data Framework). BlackIce developed this tool from several global Basel Implementations and offers it to assist financial institutions with overall tracking of progress and capture of compliance to, and governance of Regulatory Regulations and Best Practices, while at the same time providing comprehensive examples of artifacts and supporting extensive reporting.
BlackIce Enterprise Risk Management Inc.
Mac Kalyan, CEO, Director
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of BlackIce Enterprise Risk Management Inc. and includes: whether the Company will have its securities listed on the Canadian Securities Exchange on June 4, 2014; whether the Company will commence a new era in the big data marketplace; and whether the ERA(TM) and GCD(TM) software are market ready. The forward-looking information is based on certain key expectations and assumptions made by the Company's management. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The CSE has not reviewed, approved or disapproved the content of this press release.
BlackIce Enterprise Risk Management Inc.