DMGGF - DMG Blockchain Solutions Appoints Lawrence Truong as Strategic Advisor | Benzinga
VANCOUVER, British Columbia, Sept. 20, 2023 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSXV:DMGI) (OTC:DMGGF) (FRANKFURT: 6AX) ("DMG"), a vertically integrated blockchain and cryptocurrency technology company, announces it has appointed Lawrence Truong as Strategic Advisor. Mr. Truong was most recently CEO of Binance Canada, at which he developed its go-to-market strategy. Prior to Binance, Lawrence was Chief Compliance Officer at Tetra Trust Company, at which he developed policies, procedures, training and oversight. As Tetra is controlled by Coinsquare, Mr. Truong's role expanded to lead Compliance at all of Coinsquare. In his role, he fostered and developed a culture of compliance, building trusted relationships with regulators, business partners and company employees. In his roles as Chief Compliance Officer for Tetra Trust and Coinsquare, Mr. Truong played a critical role in the successful licensing efforts of each company.
At DMG, Mr. Truong will be responsible for spearheading new initiatives that leverage his 25 plus years of experience in the capital markets, his expertise in regulatory compliance, his extensive network and relationships and his understanding of building platforms that meet the compliance requirements expected by regulators and financial institutions alike. Mr. Truong commented, "I am excited to join the DMG team and plan to use my experience and expertise to build bridges between TradFi and blockchain to further blockchain adoption. Given DMG's strong software team, we will have the opportunity to build infrastructure that can service the needs of the largest financial institutions."
DMG's CEO Sheldon Bennett added, "Lawrence brings a wealth of experience and contacts that could significantly enhance DMG's Core+ strategy to monetize bitcoin transactions. We are excited to add him to our team and focus the company's software development in a way that could significantly increase DMG's software revenue over time. We intend to disclose more about these new initiatives in the coming months."
Stock Option Grant
DMG also announces it has granted 1,266,110 stock options ("Options") to employees and directors of the Company. The Options are exercisable for a period of five years at a price of $0.29 per share and will vest as to 25% on each of the six-, 12-, 18- and 24-month anniversaries of the grant date.
About DMG Blockchain Solutions Inc.
DMG is an environmentally friendly vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG's sustainable businesses are segmented into two business lines under the Core and Core+ ...