TAAL issues request for proposal for blockchain cloud computing hosting services

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VANCOUVER, British Columbia, Jan. 29, 2020 (GLOBE NEWSWIRE) — TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ | OTCQB:SQRMF) (“TAAL”) is pleased to announce that it has issued a Request for Proposal (“RFP”) from qualified firms or individuals to provide managed blockchain mining hosting services.

Background

TAAL is planning on deploying a fleet of up to 90 megawatts of computing power with a managed hosting provider within North America.

The managed hosting solution should be able to provide the appropriate infrastructure and power to host equipment associated with blockchain mining and the expertise required to deliver large scale hosting services.

“We are looking for an experienced partner, currently operating in North America, that understands scale, stability and is equipped with tools to provide solid internal controls in this evolving industry.” Angela Holowaychuk, CEO & President of TAAL.

General Instructions

The RFP documents are available by contacting TAAL by email: [email protected] or by phone: 1-800-371-2809 and upon execution of a non-disclosure agreement (“NDA”) between both parties.

All proposals must satisfy the requirements set out in the 12-page RFP documents.

TAAL will record and provide answers to any questions or requests for clarification information about the RFP during a question and answer period.

All proposals are to be submitted on or before 3:00 PM PST on March 15, 2020. A representative of TAAL will confirm receipt of each submission. Proposals submitted after the deadline and verbal proposals will not be considered.

TAAL reserves the right to reject any or all proposals, and to waive any errors or corrections in a proposal or in the proposal process. TAAL will award the contract based on the review and analysis of the proposals that best meet the needs of the business.

TAAL may award multiple proposers under this solicitation and reserves the unilateral right to negotiate final contractual terms with the successful responder, and/or alter, postpone or abandon this RFP process at any time.

About TAAL Distributed Information Technologies Inc.

TAAL is a Canadian based technology company engaged, through its subsidiaries, in the business of operating, managing and developing cloud computing data infrastructure and system technology to support global blockchain applications related to Bitcoin SV, Bitcoin Core and other SHA-256 based digital assets.

For further information contact:

Angela Holowaychuk
President and Chief Executive Officer
Telephone: +1 800-371-2809

The CSE accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes “forward-looking information” as defined under applicable Canadian securities legislation. Forward‐looking information and statements include, but are not limited to, disclosure regarding possible events based on assumptions about future economic conditions and courses of action, statements with respect to TAAL’s intention to engage qualified individuals or firms for the provision of blockchain mining hosting services (including the terms, timing and process of such potential engagement) and, in certain cases, forward looking information can be identified by the use of words such as “expects”, or variations of such words and phrases or statements that certain actions, events or results “may” or “will”, or the negative forms of any of these words and other similar expressions. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, future demand for Bitcoin SV, Bitcoin Core and other digital assets and risks related to the mining thereof, integration issues, personnel and staffing requirements and technological change and obsolescence. Actual results and future events and actions could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward-looking information. All forward looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. TAAL disclaims any intention or obligation to update or revise such forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.