Cybernetic Technologies Ltd (HPIL), Announces it has Acquired World Gaming Group

Rhea-AI Summary

Cybernetic Technologies Ltd (OTC: HPIL) has acquired World Gaming Group Inc., which has developed 'GAMEZCASH' and 'TUNEZCASH' as new currencies for the esports and online music industries. The acquisition will leverage World Gaming Group's blockchain projects, enhancing HPIL's market position. CEO Stephen Brown announced monthly shareholder meetings to provide insights into the company's future direction. The upcoming meeting is set for July 2, 2021, at 2:00 PM PST.

Positive

• Acquisition of World Gaming Group Inc. enhances HPIL's position in the esports and online music industries.
• Introduction of GAMEZCASH and TUNEZCASH aims to create new revenue streams.

Negative

• Risks associated with the acceptance and market competitiveness of the new currencies.
• Dependency on successful integration of blockchain technology into existing operations.

VANCOUVER, BC, June 8, 2021 /PRNewswire/ -- Cybernetic Technologies Ltd (the "Company") (OTC: HPIL) announces that it has acquired World Gaming Group Inc, who over the past 18 months have been involved in blockchain projects and have developed "GAMEZCASH" and "TUNEZCASH"  that are to be used as a new form of currency in the esports/gaming world and the online music industry.

"I will continue my monthly shareholder meetings at 2:00PM PST on July 2, 2021 and hope to have much more insight for HPIL and that the shareholders will have a much more organized event," said Stephen Brown, CEO.

Shareholders Zoom link for Q & A July 2nd at 2:00 PM PST:
https://zoom.us/j/94383610944?pwd=UXVhK1k4WG9jaGZEajJ6SnQyYUUxZz09

Safe Harbor: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filing.

For more information: 
Cybernetic Technologies Ltd
1720 650 West Georgia St
Vancouver, BC V6B 4N8
Contact: Stephen Brown, CEO
www.cybernetictech.ca
info@cybernetictech.ca
Ph: (778) 819-1956

 

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SOURCE Cybernetic Technologies Ltd

FAQ

What is the significance of Cybernetic Technologies' acquisition of World Gaming Group Inc.?

The acquisition strengthens Cybernetic Technologies' position in the esports and online music markets by introducing innovative currencies.

When will the next shareholder meeting for HPIL take place?

The next shareholder meeting is scheduled for July 2, 2021, at 2:00 PM PST.

What products are being developed as a result of the acquisition?

The company is developing 'GAMEZCASH' and 'TUNEZCASH' to serve as new currencies in the esports and online music industries.

What are the potential risks associated with HPIL's acquisition?

Potential risks include market acceptance of the new currencies and competition in the blockchain sector.