Toronto, Ontario--(Newsfile Corp. - January 28, 2022) - Mijem Newcomm Tech Inc. (CSE: MJEM), a North American social media and technology company, announces that it has launched its Bitcoin SV (BSV) crypto loyalty program on Mijem's community buy & sell platform. For each US$1 transacted through Mijem's platform, the loyalty program rewards users with 1 point, which can be converted to BSV for purchase of goods or services outside the app. Users selecting BSV can save their rewards via an in-app crypto wallet. There is no cap on the number of points users can accumulate.
"Gen Z university and college students are Mijem's target market, and over 50% of Gen Z believe cryptocurrencies will become widely used in the future, and about 17% of the entire cryptocurrency market is occupied by Gen Z," said Mijem CEO Phuong Dinh. "This is why Mijem is offering BSV on our community buy & sell platform. Bitcoin SV transacts quickly and inexpensively, scales easily, and is far more environmentally friendly than many other cryptos - all features that are important to Gen Z."
BSV is a growing platform with a market cap of over $2,850,000,000 as of September 2021 , making it among the largest cryptocurrencies on the market. BSV charges much lower transaction fees when compared to Bitcoin (BTC). The average fee per transaction is only $0.00045 versus the much higher rate of Bitcoin at $0.477 per transaction .
Mijem also announces that it has issued an aggregate of 931,939 shares (consisting of 93,196 Common Shares, 279,581 Class A Shares, 279,581 Class B Shares and 279,581 Class C Shares) to correct a calculation error that was made when determining the number of shares of Mijem Newcomm Tech Inc. issuable on the closing of its reverse take-over transaction to holders of the $750,000 convertible promissory notes issued by Mijem Inc. in March 2021.
For further information, please contact:
Gord Tomkin, Chief Financial Officer
Mijem Newcomm Tech Inc.
About Mijem Inc.
Mijem is a Canadian-based social media and technology company that provides innovative solutions to create a vibrant social marketplace for Generation Z to connect and to efficiently buy, sell and trade goods and services. Mijem's patent-pending flagship technology currently permits thousands of university and college students across the United States and Canada to both connect on-line and engage in consumer-to-consumer commerce.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved".
Forward-looking information in this news release is based on certain assumptions and expected future events. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Readers are cautioned that the foregoing list is not exhaustive. Readers are further 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 placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112033