VANCOUVER, British Columbia, Nov. 15, 2017 (GLOBE NEWSWIRE) -- Global Remote Technologies Ltd. (“Global Remote” or the “Company”) (CSE:RGT), (OTCMKTS:RGTZF), (Frankfurt Stock Exchange:GR9) would like to update its shareholders further to the company’s news release dated Nov. 6, 2017.
Company’s current business model is collecting oil and gas field data across its broad infrastructure through numerous and varied sensor technologies. However, the integration, collection, assessment, and proper distribution of that data has varied from program to program. GRT, using its sophisticated data aggregation, new algorithms, and display abilities has solved this problem. We hope that our future asset acquisition in blockchain technology can be used jointly with our existing assets, thus benefiting our overall business.
Some oil and gas based clients can be rather disorganized, wherein multiple entities maintain their own databases and data sharing can become very difficult due to the disparate nature of the systems. But as blockchain can serve as a single shared ledger among interested parties, this can result in simplifying this model by reducing the complexity of managing the separate systems maintained by each entity.
With such wide-ranging possibilities, blockchain can enhance the quality of service delivery while improving confidentiality and integrity of data. With the ability to provide secure and transparent transactions, blockchain seems poised to be one of the digital world’s key pillars.
We look forward to updating our shareholders on future acquisitions.
About Global Remote Technologies
The objective at Global Remote Technologies is to reduce operational costs in the energy domain, specifically the oil sector, with unique, proprietary techniques and technologies that support upstream, midstream and downstream processes. Services are developed to create custom solutions that improve performance, improve health and safety standards, and bring significant savings to clients. GRT operates in rugged locations around the globe, with offices in Canada, Mexico, Oman, and the United States. Global Remote Technologies is a public company, traded in Canada, U.S. and Germany under the symbols CSE:RGT, OTCMKTS:RGTZF and FRA:GR9.
On behalf of the Board of Directors
Akash Patel
President and Director
Further information about the Company is available under its profile on the SEDAR website, www.sedar.com, on the CSE website, www.thecse.com, and on its website, www.grtcse.com.
Contact: Brian Biles
Telephone: 604-329-4421
Website: www.grtcse.com
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation. The forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company’s management believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company cannot provide any assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and the Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.