North PEAK Resources Announces the Sale of Its Blockchain Patents to Helix Applications Inc.
www.northpeakresources.com
TSX Venture: NPR
NORTH PEAK RESOURCES ANNOUNCES THE SALE OF ITS
BLOCKCHAIN PATENTS TO HELIX APPLICATIONS INC.
Calgary, Canada February 24, 2021
NORTH PEAK RESOURCES LTD. (TSX Venture: NPR) (the “Company” or “North Peak”) is pleased to
announce it has agreed to sell its four (4) United States issued patents, ongoing related patent applications
in China and related development work to Helix Applications Inc. (“Helix”) (TSX Venture: HELX). North
Peak prepared and applied for these patents prior to its current status as mining company, as part of a
broader application for the technology it was developing at the time within the blockchain sector.
As part of the transaction, North Peak will receive a CAD$150,000 cash payment and a 5% royalty on any
profits generated by Helix and its affiliates from any commercial applications derived from the patents that
Helix may develop as it seeks to evaluate the growing interest in the networks of digital token economics.
The transaction includes the following patents:
Chain Joining - (Patent Number: US 10,764,034) - issued on September 1, 2020, relating to the method
and system for facilitation data transfer between blockchains. This allows secure sharing of application
data between different blockchains that run applications (“application blockchains”). Before chain joining,
to securely share data using blockchain, multiple nodes had to be part of the same chain and/or the data
had to be encrypted, which is not always desirable.
Hyperconvergence – (Patent Number: US 10,740,139) - issued on August 11 2020, relating to the
method and system for performing hyperconvergence using blockchains, providing lightness and
flexibility. Hyperconvergence allows a single application blockchain to control different hypervisors
across different nodes, and to control the hypervisor it is running on. This allows a single blockchain
direct control of all the hardware all those hypervisors are running on.
Chainception – (Patent Number: US 10,693,654) - issued on June 23 2020, relating to the method and
system for hosting a new blockchain using an existing blockchain node. When a new application
blockchain is created, it may very quickly need resources that are available only on different nodes (e.g.,
bandwidth or processing power). To gain access to those resources, those nodes need to host the new
blockchain. But, those nodes needed to trust the new blockchain before hosting it. Chainception is a
way an existing and already trusted blockchain creates the new blockchain and, by virtue of being
created by a blockchain that those nodes already trust, those nodes automatically trust the new
blockchain and consequently host it and support it with resources.
Payload Layer – (Patent Number: US 10,892,887) - issued January 12, 2021, relating to the method
and system for storing a binary large object. Conventionally, storing a very large file on a blockchain
takes a very long time and prevents the blockchain from doing other processing tasks while that file is
being stored. The payload layer allows large files to be transferred in the background with only a small
reference file being stored on the blockchain, thereby allowing the blockchain to continue normal
processing while the file is being stored.
Brian Hinchcliffe, Chief Executive Officer of North Peak commented:
“The company believes that Helix, with its prior knowledge and understanding of the Company’s technology,
is best positioned to further develop these patents and maximise value for shareholders. This enables us
to focus on identifying further mineral properties for North Peak whilst benefiting from any future
development and application of the patents.”
- 2 -
Rufus Round, Chief Executive Officer of Helix added:
“As Helix has been evaluating its strategy, the company has witnessed huge change in the progress and
development of permission-less blockchains, where interoperable features are so valuable. With these
patents, we believe the network effect that blockchain technology could achieve may lead to exponential
outcomes for assets developed on these protocols. This acquisition represents a strong opportunity for
Helix to capitalise on the explosion of growth in the sector.”
About North Peak
The Company is a Canadian based gold exploration and development company that is listed on the TSX
Venture Exchange under the symbol “NPR”.
For further information, please contact:
Brian Hinchcliffe, CEO
Phone: +1-914-815-2773
Email: [email protected]
Website: www.northpeakresources.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This news release
includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-
looking statements include, but are not limited to, statements with respect to the ability of Helix to
commercialize the patents, anticipated generation of royalties and other information concerning future
events or the intentions, plans and future action of the Company that may be described herein. Forward-
looking statements consist of statements that are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified
by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe”
and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue
reliance on forward-looking statements, as there can be no assurance that the plans, intentions or
expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and
uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates,
forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and
uncertainties include, among other things, the state of the economy in general and capital markets in
particular, as well as those risk factors discussed or referred to in the Company's Management's Discussion
and Analysis for the period ended September 30, 2020 available at www.sedar.com, many of which are
beyond the control of the Company. Forward-looking statements contained in this press release are
expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press
release. Except as required by law, the Company disclaims any intention and assumes no obligation to
update or revise any forward-looking statements, whether as a result of new information, future events or
otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or
statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.