Jiva Technologies Integrates Bitcoin into Treasury Strategy as Board Approves Up to $1 Million Investment

Rhea-AI Summary

Jiva Technologies (PLTXF) has announced its Board of Directors' approval to purchase up to $1 million in Bitcoin as part of its treasury management strategy. CEO Lorne Rapkin highlighted Bitcoin's potential as an inflation hedge and safe haven asset, citing its scarcity and growing institutional adoption through Bitcoin ETFs. While integrating Bitcoin into its treasury, Jiva remains focused on its core operations, including joint ventures, Bloombox Club e-commerce platform, and the development of its wellness hub in Squamish, BC. The company will actively monitor its Bitcoin holdings to ensure alignment with market conditions and cash flow needs.

Positive

• Board approval for strategic Bitcoin investment up to $1 million
• Diversification of treasury management strategy

Negative

• Exposure to cryptocurrency market volatility

VANCOUVER, BC, Nov. 25, 2024 /PRNewswire/ -- Jiva Technologies (CSE: JIVA) (Frankfurt: WNT1) (OTCQB: PLTXF) ("JIVA" or the "Company"), a leader in building niche online wellness communities and creating immersive physical environments, today announced that its Board of Directors has approved the purchase of up to $1 million in Bitcoin as part of the Company's treasury management strategy.

"As Bitcoin continues to gain traction as a widely accepted and trusted asset class, we see a unique opportunity to strengthen our treasury with a resilient and innovative investment," said Lorne Rapkin, CEO of Jiva Technologies. "Bitcoin's inherent scarcity and finite supply position it as a modern hedge against inflation and a safe haven in times of economic uncertainty. We believe Bitcoin aligns with our forward-thinking strategy and complements our mission to drive innovation across all aspects of our business. The potential for favorable regulatory frameworks and increased institutional adoption, highlighted by the recent wave of Bitcoin ETFs, underscores Bitcoin's value proposition and makes us believe it is an ideal asset for corporate treasuries seeking inflation-resistant stores of value," Rapkin added.

While Bitcoin will now form part of Jiva Technologies' diversified treasury strategy, the Company remains firmly committed to its core operations. This includes executing its previously announced joint ventures, driving growth in its plant subscription e-commerce platform, Bloombox Club, and continuing to develop its immersive wellness hub in Squamish, BC.

Jiva Technologies will monitor its Bitcoin holdings closely, ensuring they align with market conditions and the Company's cash flow requirements.

About JIVA Technologies

JIVA Technologies is dedicated to building niche online wellness communities and creating immersive physical environments. With a proven track record in e-commerce marketplaces, bolstered by expert UI/UX design and SEO, JIVA now focuses on joint ventures to support wellness brands in developing their online presence. The company owns and operates Bloombox Club, an online plant delivery marketplace serving the United States, Germany, the United Kingdom, Austria, the Republic of Ireland, France, Spain, and Italy, as well as The Locavore Bar and Grill, a vibrant dining and gathering destination in Squamish, BC. Recently, JIVA became a shareholder in VEG House, a leader in the plant-based space, through a share exchange agreement. Committed to e-commerce, marketing, and wellness, JIVA's mission is to cultivate online communities of like-minded consumers through education and collaboration. The company is actively pursuing joint ventures, such as the recently announced partnership with LIV3 for SugarShield, to empower wellness brands online by building their websites and managing all digital marketing.

Contact

Lorne Rapkin
Chief Executive Officer
(416) 419-1415

Forward-looking Information

This press release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may," "will," "expect," "likely", "should," "would," "plan," "anticipate," "intend," "potential," "proposed," "estimate," "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. The forward-looking information contained herein includes, without limitation, statements regarding the availability of Future Farm products, PlantX promotional events and the business and strategic plans of the Company.

By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, without limitation: receiving sufficient demand for the Offering; the Company's ability to comply with all applicable governmental regulations including all applicable food safety laws and regulations; impacts to the business and operations of the Company due to the COVID-19 epidemic; the conflict in eastern Europe; having a limited operating history; the ability of the Company to access capital to meet future financing needs; the Company's reliance on management and key personnel; competition; changes in consumer trends; foreign currency fluctuations; and general economic, market or business conditions.

Additional risk factors can also be found in the Company's continuous disclosure documents, which have been filed on SEDAR and can be accessed at www.sedar.com. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained applicableherein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by law.

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SOURCE Jiva Technologies

FAQ

How much Bitcoin investment did Jiva Technologies (PLTXF) Board approve?

Jiva Technologies' Board of Directors approved the purchase of up to $1 million in Bitcoin as part of its treasury management strategy.

Why is Jiva Technologies (PLTXF) investing in Bitcoin?

Jiva Technologies is investing in Bitcoin as a hedge against inflation and safe haven asset, citing its scarcity, finite supply, and increasing institutional adoption through Bitcoin ETFs.

Will Jiva Technologies (PLTXF) continue its core business operations alongside Bitcoin investment?

Yes, Jiva Technologies will maintain its core operations, including joint ventures, Bloombox Club e-commerce platform, and wellness hub development in Squamish, BC, while incorporating Bitcoin into its treasury strategy.