CALGARY, Alberta, Feb. 11, 2019 (GLOBE NEWSWIRE) -- Helix Applications Inc. (TSX-V: HELX) (the “Company” or “Helix”) is pleased to announce that Trevor Gabriel has been appointed as a Non-Executive Director of the Company and to the Company’s audit committee.

Mr. Gabriel is qualified as a Chartered Accountant in London and spent 12 years in financial and general management roles with Jardine Matheson in the South East Asia before returning to Europe in 1985. He subsequently ran a privately owned oil company which was based in UK and which had concessions in Gabon and a distribution infrastructure in several West African countries. In the past 10 years he has had Non-Executive Director roles with Kirkland Lake Gold Ltd. (where he also chaired the audit committee) and is currently very much involved in a privately owned start-up in the hi-tech sector (energy storage and Hi-Torque electric motors).

Mr. Gabriel is widely travelled, speaks several languages and will bring many years of diverse experience and experiences to the Board of Directors of Helix.

Corporate Update

The Company is also providing an update on its corporate activity and business development plans for 2019. Following the Company’s November 29, 2018 press release, in which Helix announced it had joined the CitizenOS venture with Xinova, LLC (“Xinova”) and Interbit Ltd., the Company has decided to focus its activity on implementing a strategy for application development that will be best suited for the technological ambitions of the CitizenOS venture. The CitizenOS venture is currently preparing for a campaign to market its innovative solutions and strengths to cities in North America and Europe.

Xinova is a Seattle-based technology company that operates a network of innovators in 113 countries from various scientific and entrepreneurial backgrounds. Xinova identifies and mobilizes talent, technology, capital and demand to overcome obstacles to innovation while increasing efficiency and likelihood of success. To this end, the CitizenOS venture was established to meet the opportunities that have arisen as a result of the rise of Edge computing and information technologies, as urban areas seek to adopt such smart city technologies that can achieve the scalability necessary, while also upholding the privacy and rights of citizens.

Helix will seek to lever its experience developing applications in the blockchain space to build the versatile and effective applications and connectivity that Edge computing will require of the computing networks that will emerge from the deployment of IoT devices, with their short latency demand, over the next few years. To this end, development has continued on the Company’s trucking application, TruckLovely, but is currently paused pending further advancement of the InterbitTM megachain software platform being built by Interbit Ltd. This trucking application will be designed to take advantage of Edge computing.

In connection with this trucking application, the Company is also working to develop the Helix Logistics Platform, a blockchain-based logistics platform, with the goal of bringing blockchain out of the world of cryptocurrency and tokens and use it to bring tangible goods and services to bricks and mortar businesses. The goal of the Helix Logistics Platform is to allow data to exist in multiple trust domains at once, enabling it to connect to other industry systems, such as payments, orders and supply chain management programs. This would remove the need for traditional middlemen currently required to coordinate the logistics of goods and data between companies and countries.

“The Company strongly believes that the convergence of 5G enabled Edge computing will present unprecedented demand for its products, technologies and strengths,” said Tom Thomson, CEO of Helix. 

ABOUT HELIX

Helix is a blockchain application and technologies developer, listed on the TSX Venture Exchange (TSX Venture: HELX).  On October 26, 2018, Helix completed a “Change of Business” transaction to become a technology company and undertake its current business. Additional in-formation about Helix and its “Change of Business” transaction is available on SEDAR at www.sedar.com under Helix’s profile.

For further information please contact Helix at:

Tom Thompson, CEO
c/o 82 Richmond Street East, Suite 200, Toronto, ON, M5C 1P1
Tel. +1-604-376-7771
tom@helixapps.ca

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain information set out in this news release constitutes forward-looking statements or information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the successful development of blockchain applications and technologies by the Company, the successful development and widespread adoption of Edge computing, the success of the CitizenOS venture, and other information concerning the intentions, plans and future action of the Company and its technologies and products described herein. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company’s most recent management's discussion and analysis, a copy of which is filed on SEDAR at www.SEDAR.com, and readers are cautioned that the risk factors disclosed therein should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.

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.