VANCOUVER, BC – June 15, 2022 – LUXXFOLIO Holdings Inc. (the “Company” or “LUXXFOLIO”) (CSE: LUXX) (OTCQB: LUXFF) (Frankfurt/Berlin: LUH) a vertically-integrated digital asset company, seeks to optimize the business in the face of the current market pressures.
As part of this process, Kelly Klatik agreed to step out of his role as Executive Chair. As an initial measure, this will reduce overhead and increase efficiencies as it will no longer be a salaried position and the duties of the Executive Chair will be integrated with the current executive team. Mr. Klatik will continue to serve the Company as a member of its Board.
Ken MacLean, President of LUXXFOLIO commented, “The Company appreciates Kelly’s continued commitment to LUXXFOLIO and his contribution to our plan to stay ahead of this downdraft. We will continue to optimize operations over the coming months and act on viable opportunities that we identify in this bear market.”
Recent Company Highlights
|Dec 2021:||LUXXFOLIO finalizes order for additional 500 Bitmain S19J Pro miners thereby increasing anticipated future hash rate to 360 PH/s (NR Dec. 16, 2021)|
|Jan 2022:||LUXXFOLIO rolls out Decentralized Storage Vertical (NR Jan. 31, 2022)|
|June 2022:||BIGG Digital Assets invest $2M into LUXXFOLIO to earn a 15% interest in the Company. (NR June 9, 2022)|
Estimated Calendar Miner Delivery Dates
- Q3 2022: 1,400 Miners
LUXXFOLIO Holdings Inc. is a publicly traded, vertically integrated digital asset company based in Canada. It operates an industrial scale cryptocurrency mining facility in the United States powered predominately by renewable energy with a focus on the blockchain ecosystem and generation of digital assets. LUXXFOLIO provides a liquid alternative for exposure to digital assets for the broader capital markets.
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Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipated”, “will be”, “intend” or variations of such words and phrases or statements that certain actions, events, or results “will” occur. Forward- looking statements regarding the Company, its hosting operations, miners, and the Company’s development of its growth strategy are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company and its subsidiaries to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.