COBALT BLOCKCHAIN AND DLT LABS FORM JOINT VENTURE TO RELEASE MINTRAXTM BLOCKCHAIN PLATFORM FOR MINERAL TRACEABILITY Release of Mintrax, a comprehensive blockchain solution for secure, transparent, and immutable provenance end-to-end through the mineral supply chain
COBALT BLOCKCHAIN AND DLT LABS FORM JOINT VENTURE
TO RELEASE MINTRAXTM BLOCKCHAIN PLATFORM
FOR MINERAL TRACEABILITY
Release of Mintrax, a comprehensive blockchain solution for secure, transparent, and immutable
provenance end-to-end through the mineral supply chain
TORONTO, ONTARIO (August 2, 2018) – Cobalt Blockchain Inc. (the "Company" or
“COBC”) (TSXV:COBC) and DLT Labs Inc. (“DLT”) are pleased to announce that they have
finalized their joint venture (“JV”) agreement to commercialize MintraxTM, a fully-functional
blockchain platform providing secure and transparent methods for tracking the provenance of
metals and minerals through the entire mining supply chain from source to end-user.
Mintrax is the first enterprise-grade blockchain platform built from the ground up to ensure
compliance with the Organisation for Economic Co-operation and Development (“OECD”) due
diligence framework for the provenance of ethically-sourced minerals. The transactional flow of
Mintrax is based on COBC’s operational experience trading certified-conflict-free metals in the
Democratic Republic of the Congo (“DRC”) and work with due diligence program design firm
BetterChain, as well as DLT’s deep-bench supply chain and logistics experience with IBM’s
Hyperledger Fabric blockchain.
“Cobalt Blockchain is excited to be working together with DLT Labs on what we believe will
lead to a transformational shift in our industry,” said Lance Hooper, President and Chief
Operating Officer at COBC. Hooper added, “Our aim is for the Mintrax blockchain platform to
be the benchmark in automated trust, assuring security, transparency and immutability of the
certification record for ethically-sourced minerals.”
“Consumers around the world demand secure and transparent methods for tracking and
certifying responsible manufacturing,” said Loudon Owen, Chairman and Chief Executive
Officer of DLT Labs. Owen added, “Organizations are not just experiencing digital
transformation, they are also achieving ethical transformation. Unquestionably ethical supply
chains are not just the right path, they are the only path.”
Patrick Mutwale, Managing Director at DLT Labs, is project lead for the Mintrax development
initiative. This successful product launch builds on a wide range of expert contributions,
including DLT’s international blockchain logistics asset tracking practice and COBC’s mineral
operations, with oversight from Dr. Samuel Peralta and Lance Hooper of COBC, and the work of
Africa-based entrepreneur Imran Patel.
COBC intends to provide conflict-free cobalt to address burgeoning demand for advanced
batteries in smartphones and electric vehicles and is gearing up to begin cobalt trading early in
the fourth quarter of 2018. COBC holds export trading licenses for cobalt, copper, and 3T metals
(tin, tantalum, tungsten) from the DRC.
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While the new platform is being implemented first for cobalt, it is designed for companies
trading in all base and precious minerals, including for 3T metals, diamonds and gold.
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About Cobalt Blockchain Inc.
Cobalt Blockchain Inc. (TSXV:COBC) is a Canadian resource company expanding its
exploration and development business to include cobalt assets in the Democratic Republic of the
Congo (“DRC”); it holds export trading licenses for 3T, copper and cobalt from the DRC.
COBC is the first mining and mineral trade company set up specifically to procure cobalt in
compliance with the Organisation for Economic Co-operation and Development (“OECD”) due
diligence framework. COBC, with its partner DLT Labs, has developed and is implementing a
blockchain-based reporting platform to provide greater certainty of provenance and further
assurance that all minerals procured are ethically-sourced. Senior management have over twelve
years of experience working in the DRC and a proven international track record in exploration
success and the trading of certified conflict-free, child-labour-free minerals.
About DLT Labs Inc.
DLT Labs is a global leader in distributed data management solutions powered by blockchain,
with offices in Canada, India and Japan. With advanced competency in technical innovation and
a pool of highly skilled and experienced blockchain experts, DLT Labs enables simplification
and optimization of multi-party processes of clients using its full suite of secure and scalable
blockchain products. DLT is an Authorized IBM Business Partner, technology partner of the
Bombay Stock Exchange, member of the Blockchain in Transportation Alliance (BiTA), and a
partner of Enterprise Ethereum Alliance, Hyperledger and Linux Foundation.
For additional information, please contact:
Lance Hooper, President and Chief Operating Officer
Cobalt Blockchain Inc.
Telephone: +1-416-500-3670
Email: [email protected]
Website: www.cobc.co
Loudon Owen, Chairman and Chief Executive Officer
DLT Labs
Telephone: +1-416-307-3271
Email: [email protected]
Website: www.dltlabs.com
For media inquiries, please contact:
Melony Jamieson
Telephone: +1-416-518-6355
Email: [email protected]
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Forward-Looking Information
This release includes certain statements that may be deemed "forward -looking statements". All statements in this
release, other than statements of historical facts, that address future production, reserve potential, exploration
drilling, exploitation activ ities and events or developments that the Company expects are forward -looking
statements. Although the Company believes the expectations expressed in such statements are based on reasonable
assumptions, such statements are not guarantees of future performa nce and actual results or developments may
differ materially from those in the statements. There are certain factors that could cause actual results to differ
materially from those in forward -looking statements. These include market prices, exploitation an d exploration
successes, continued availability of capital and financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or
developments may differ materially from those projected in the forward -looking statements. For more information
on the Company, investors should review registered filings at www.sedar.com.
Neither the TSX Venture Exchange nor its Regu lation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.