Blockchain
The Globe and the Mail – The Globe and the Mail
TORONTO, May 6, 2024 (GLOBE NEWSWIRE) — Orthogonal Global Group Inc. (“Orthogonal” or the “Agency“) (CSE: OGG) (OTC Pink: TODAYF) (ESF: 8M9), a global accelerator and public investment platform focused on promoting ventures in the wellness, artificial intelligence, digital property, deep tech and fintech spaces, is pleased to announce the purchase of tokens offered by Minutes Network Token and the closure by one of its portfolio companies, Contango Digital Resources (“I’m counting“), of a $5 million venture capital fund focused on AI and blockchain.
Minutes Network Token (MNT) – Tokenization of the telecom minutes market
The Company purchased 11,160 MNT, Minutes Network’s token project to support the sharing economy of the telecommunications minutes market. MNT uses blockchain technologies to decentralize the multi-billion dollar telecom commodity minute market on a global scale. MNT tokenizes bandwidth and distributes value to Minutes Network participants with the goal of offering the lowest termination rates in the market. Each MNT represents $0.224 per token as part of a private sale allocation of MNT. Orthogonal is excited to support a blockchain-based token project. For more information on MNT, visit the site minutinetwork.io.
Portfolio Company Contango Digital Assets Closes $5M Seed Fund for AI x Blockchain
Orthogonal portfolio company, Contango, recently closed $5 million of a $10 million fund focused on the intersection of artificial intelligence and blockchain.
On April 15, 2024, Contango announced the first successful close of its latest venture fund, the Contango Blockchain x AI Fund, bringing in an impressive $5 million in limited partner capital. The fund is dedicated to investing in North American seed round companies building at the intersection of blockchain and artificial intelligence. The new fund represents a strong bet on the growth and importance of decentralized artificial intelligence compared to its centralized counterparts. Investors in the Contango Blockchain x AI Fund include the CEO of Quantstamp, the CFO of SingularityNet, the CEO of WonderFi, a GP from X Ventures, early LPs from Digital Currency Group and Polychain Capital, and investors from VANTA DAO. With strong backing, the fund is poised to help advance the convergence of blockchain and AI technologies. David Nikzad, CEO of the Company, said: “We are thrilled to be part of this new fund at the forefront of artificial intelligence and blockchain as one of Contango’s first investors (as a general partner) and believe in the vision outlined by Contango Managing Partners, Mike Grantis and Joshua Field, in these areas.”
Team Ortogonale in Dubai for Tokens 2049
Orthogonal team members David Nikzad, Jason Hobson, Shidan Gouran, Mona Coyle and Kevin Soltani gathered in Dubai for Tokens 2049, where the team met with existing partners to explore additional global opportunities. While in Dubai, Mr. Nikzad acted as an ambassador at the Polo Crypto Cup sponsored by our partner, Luna PR, and Mr. Soltani spoke on various event panels promoting Orthogonal.
Visit the new Orthogonal website at www.orthoglobalgroup.com.
FromOrthogonal global group
Orthogonal Global Group Inc. is a global accelerator and public investment platform focused on accelerating and investing in top companies and projects in disruptive industries. Orthogonal provides access to these disruptive companies and private projects in a public investment vehicle with liquidity and transparency. We believe it is at the orthogonal intersection of wellness, healthcare, artificial intelligence, tokenization, deep tech and fintech spaces that will push humanity towards a more utopian society.
Orthogonal remains focused on developing a portfolio of utopian asset classes – a portfolio that delivers returns to investors and collectively bends the arc of humanity towards a utopian society through accelerating and investing in the best companies and projects in emerging sectors.
For further information contact:
Orthogonal Global Group Inc.
David Nikzad
CEO and Co-founder
Telephone: 1-866-395-6989
E-mail: investor@ortho.gg
Website: www.orthoglobalgroup.com
Cautionary Note Regarding Forward-Looking Statements
Certain information in this press release may contain forward-looking statements that involve known and unknown risks and uncertainties, some of which are beyond the Company’s control. Forward-looking statements are often characterized by words such as “plan,” “continue,” “expect,” “project,” “intend,” “believe,” “anticipate,” “estimate,” “may,” “will,” ” potential,” “proposed,” and other similar words, or statements that certain events or conditions “may” or “will” occur or be achieved, and other similar expressions. Forward-looking statements are based on management’s estimates and opinions as of the date they are made. In the press release, such forward-looking statements include, but are not limited to, statements regarding the Company’s performance, the performance of its investments, the business objectives, milestones and potential outcomes of its development contained therein.
In making the forward-looking statements contained in this press release, the Company has applied various material assumptions, including without limitation: the Company’s ability to comply with all applicable regulations and laws, including environmental, health and safety laws; the success of 4worlds as a metaverse universe and DAO on the Bitcoin blockchain; the expertise of Orthogonal’s advisory board to oversee the project; the Company has sufficient working capital for future operating activities; the Company’s ability to achieve its business objectives and goals and expected execution times; the Company’s ability to continue as a going concern; the Company’s ability to achieve profitability in fiscal 2024; the Company’s ability to obtain additional financing to continue operations on terms acceptable to the Company outlined herein.
The above lists of forward-looking statements and assumptions are not exhaustive. Because forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: changes in general economic, business and political conditions, including changes in financial markets; necessary consents or authorizations; changes in laws, regulations and policies affecting the Company’s operations; currency fluctuations; environmental issues and responsibilities; the Company’s inability to obtain additional financing to continue operations on terms acceptable to the Company; the lack of control over investee companies; risks relating to investing in the SVS; volatility in the market price of the Company’s SVS; dilution of shareholdings; negative operating cash flow; the negative effects of changes in interest and exchange rates; the potential impact of health crises and market instability resulting from the COVID-19 pandemic; risks related to the Company’s reliance on key employees; limitations in SVS liquidity; litigation risks; risks related to the integration of new businesses and acquisitions; risks related to the Company’s status as an “emerging growth company” under U.S. securities laws; the Company’s inability to expand into new business areas and geographic markets; growth management; the risk of default on existing debt; the Company’s inability to continue as a going concern; and the Company’s inability to achieve profitability in 2024.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend and assumes no obligation to update this forward-looking information except as otherwise required by applicable law.
