DNA Precious Metals Inc. Forms Wholly-Owned Subsidiary DNA Crypto Corp.
MONTREAL, June 13, 2014 /PRNewswire/ -- DNA Precious Metals, Inc. (OTCQB: DNAP) ("DNA" or "the Company") is pleased to announce that it has formed a wholly owned subsidiary under the laws of the State of Nevada called DNA Crypto Corp. The new subsidiary will seek to identify the best crypto currency mining opportunities in the US and Canada. Initially, DNA Crypto Corp. will focus on mining bitcoins which currently represents the world's most popular crypto currency. Bitcoin has the biggest liquidity pool of all the crypto currencies with over 12.8 million bitcoins in circulation and with a market capitalization of $8.4 billion US. Well known investors like Marc Andreessen and innovative financial organizations like Second Market are firmly behind bitcoin and the potential for bitcoin to be transformative.
James Chandik, CEO and President of DNA Precious Metals Inc., commented, "The management of DNA Precious Metals, Inc. was approached by some crypto currency miners recently and they presented us with an opportunity that we did not want to pass up. They proposed that we should become part of the bitcoin mining industry and we saw the potential to deliver value for our shareholders as we continue to work towards bringing our mining operations on the Montauban Mine Property into production. The independent nature of the subsidiary will allow DNA Crypto Corp. to be a separate entity but overseen by DNA Precious Metals, Inc., thereby maximizing the new business's flexibility and ability to grow."
Furthermore, Mr. Chandik explained, "This new business is an extension of our core mission. The new subsidiary will be mining online whereas DNA Precious Metals, Inc. will be mining at the Montauban Mine Property. Bitcoin businesses that are well thought out and focused have been well received by microcap investors in both the US and Canada. Newnote Financial Corp., which trades on the CSE in Canada, is a good example and evidence that the business model for DNA Crypto Corp. has merit. It is interesting to note that the initial bitcoin mining capacity for Newnote Financial Corp (C:NEU) was sold out in the first 48 hours. DNA Crypto Corp. hopes to have the same kind of success selling its hashing power. The scalability of the new business model could result in an excellent return on investment (ROI) which would be good for all the shareholders of the Company. This is an exciting period for shareholders of DNA Precious Metals, Inc."
About DNA Precious Metals, Inc.
DNA Precious Metals, Inc. is focused on near term production of the Montauban tailings mine in the Province of Quebec, Canada with an aggressive search for economic production assets. The company trades on the OTCQB market in the United States under the stock symbol DNAP. For more information, please go to http://www.DNAPreciousMetals.com.
On Behalf of the Company
James Chandik, Chief Executive Officer
Forward Looking Disclaimer
This release contains forward-looking statements that involve risks and uncertainties. Readers are referred to the Securities and Exchange Commission filings filed by the Company on EDGAR at http://www.sec.gov/edgar.shtml, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to review or confirm analysts' expectations or estimates or to publicly release any revisions to any forward-looking statements. The information contained in this press release should not be construed as any indication of the Company's future stock price, its revenues or results of operations.
SOURCE DNA Precious Metals Inc.