VANCOUVER, British Columbia, March 11, 2021 /PRNewswire/ -- Hello Pal International Inc. ("Hello Pal" or the "Company") (CSE: HP) (Frankfurt: 27H) (OTC: HLLPF), a provider of rapidly growing international live-streaming, language learning and social-crypto platform, reports shortly after the news release on February 8th concerning its proposed investment into a dedicated Dogecoin (DOGE) and Litecoin (LTC) mining facility and mining rigs, it's website suffered a temporary outage due to server overload.
The Company had announced an acquisition of a 15% interest in a dedicated Dogecoin and Litecoin mining facility, as well as an acquisition of an initial 51% of at least 12,500 mining rigs dedicated to mining Dogecoin and Litecoin, with options to increase its interest in both acquisitions, with the latter to 100%. The mining facility is believed to be the largest dedicated Dogecoin/Litecoin mining facility in the world, with the ability to house 90,000 mining rigs and have a capacity of 70MW, and the mining rigs are believed to account for 3-5% of the Dogecoin/Litecoin hashrate in the world and which would make it the world's third largest Dogecoin/Litecoin miner.
Following this news release, the Company's website at www.hellopal.com experienced an unprecedented surge in traffic of over 1000%, resulting in the website server being overloaded and causing a temporary outage. Fortunately, its apps, in particular its flagship app Hello Pal and livestreaming services, were not adversely affected despite also experiencing a sharp increase in traffic. The website outage was resolved and suitable adjustments have been made to server capacity to reduce the possibility of similar outages in the future.
"The sharp increase in activity on our website and the Hello Pal app validates the clear position we have taken on Dogecoin as well as on cryptocurrency in general," said KL Wong, Founder and Chairman of the Company.
The recently announced proposed acquisitions of Dogecoin/Litecoin-related assets are expected to help the Company play a significant role in the Dogecoin/Litecoin community, as well as to further its overall cryptocurrency strategy in relation to building its international community of users. In addition, the Company also expects the acquisitions to prove to be a good investment.
The Company also announces that it has granted a total of 3,000,000 stock options to its key officers, employees and consultants. As the company continues to rapidly expand and grow its staff, we are pleased to set additional options for new employees. The options were granted at a price of $1.98 per share and expire five years from the date of grant.
To download Hello Pal please visit the IOS or Android store. For information with respect to the Company or the contents of this news release, please contact the Company at (604) 683-0911 or visit the website at hellopal.com. Email inquiries can be directed to: [email protected].
About the Hello Pal Platform
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world.
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal's control, including Hello Pal's ability to complete the proposed transactions. Such risks and uncertainties are described in Hello Pal's annual and interim financial statements available on www.sedar.com. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information.
THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Hello Pal International
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SOURCE Hello Pal International Inc.