Cloud Nine Provides Corporate Update and Investment Outlook

Rhea-AI Summary

Cloud Nine Web3 Technologies has provided a corporate update and investment outlook, emphasizing its transition from an asset-gathering entity to a revenue-generating operational company. The company has revamped its management team and is focusing on its core technology suite, Limitless. Notably, the Limitless VPN will relaunch in Q2 2022, offering a free alternative to mainstream VPNs. Additionally, Cloud Nine holds a 16% stake in Next Decentrum, a rapidly growing NFT launchpad.

Positive

• Revamped management team focused on revenue generation.
• Limitless VPN set to relaunch in Q2 2022, offering free service.
• 16% ownership stake in Next Decentrum, with an option to increase to 27.6%.

Negative

• None.

VANCOUVER, British Columbia, April 06, 2022 (GLOBE NEWSWIRE) -- Cloud Nine Web3 Technologies Inc. (CSE: CNI) (OTCQB: CLGUF) (FRANKFURT: 1JI0) (“Cloud Nine” or the “Company”), a leading decentralized network and data storage technology company, is pleased to provide the following corporate update and investment outlook for Cloud Nine’s shareholders, stakeholders and other interested parties. The Company is also pleased to announce a content refresh to its website, www.cloud9web3.com, and public investment presentation deck.

Cloud Nine offers investors the ability to be part of the web 3 technology revolution through its core ‘Limitless’ technology suite, strategic investment portfolio and partners. The Company is committed to “Powering the World’s Secure Web3 Ecosystem”. While Cloud Nine seeks to capitalize on attractive investment opportunities, it is also committed to ensuring its core suite of technology is the base upon which all revenues and future projects are based.

Over the course of Q1 2022, the Company has replaced and reinvigorated its management team, who has conducted an extensive review of Cloud Nine’s existing technology portfolio and worked with the team to develop an exciting plan for the rest of 2022 and into 2023. Management has also begun to explore a series of further investments and partnerships with new and existing partners and investees. Below is a summary of Cloud Nine’s current active assets and investments.

The Limitless VPN

Limitless VPN is the first VPN built with a focus on the Metaverse and Web 3 functionality. The Limitless VPN provides a FREE OF CHARGE alternative to mainstream subscription VPNs while simultaneously providing access to its larger decentralized infrastructure of peer-to-peer Web 3.0 users. Cloud Nine provides its community with VPN service in exchange for access to latent computer resources in the background that are not being used when your system sits idle.

The Company has recently completed debugging the VPN software and plans to relaunch and monetize the VPN in Q2 of 2022.

Sign up to start using the Limitless VPN at www.limitlessvpn.com

Investment in Next Decentrum

Next Decentrum is the Launchpad for the World’s Most Iconic NFT Products. Featuring its own proprietary NFT marketplace “Momentable” Next Decentrum is generating revenues and expanding rapidly.

Cloud Nine currently has a 16% ownership interest in Next Decentrum and holds the right to increase its holdings to 27.6% of the company.

Management Commentary

“Cloud Nine is ready to move forward from an asset gathering vehicle to a revenue generating operational company,” states Lucas Russell, President and CEO. “After the last month and a half of being with the Company, I am extremely pleased with the assets and tools available to us to create some meaningful revenues in 2022, and am even more excited to continue to work on some new applications of our Limitless Technology Suite. A VPN is just the tip of the iceberg of what I believe the technology is capable of.”

“When I joined the team at Cloud Nine, I wanted to ensure past investments were capitalized on, in order to be able to fund the next round of expansion and development for the Company. Over the next few months, we aim to make some large leaps in terms of user and revenue numbers. At the same time, Cloud Nine is building future iterations of the Limitless technology which will allow us to expand our footprint in the Metaverse and Web3 communities through possible acquisitions and joint ventures. I am really excited for the coming year and look forward to sharing more with shareholders, investors and stakeholders in the coming months ahead,” continued M. Russell.

Updated Website

The Company is also pleased to announce that it has recently updated its corporate website at www.cloud9web3.com. The updated website features information about its investee companies and technology; a repository of news releases, an updated Investor Center with downloadable materials including but not limited to the investor presentation, and financial statements; among other resources. Visitors can also sign up to join the Company’s mailing list in order to receive updates directly from the Company.

ON BEHALF OF THE BOARD,
Cloud Nine Web3 Technologies Inc.

Lucas Russell
President & CEO
(604) 669-9788

About Cloud Nine Web3 Technologies Inc.

Cloud Nine is a diversified technology company focused on leveraging its proprietary Web 3.0 technology products to enable the decentralized movement among consumers and business alike. Web 3.0 enables a sustainable world where decentralized users and machines are able to interact with data, value and other counterparties via a substrate of peer-to-peer networks without the need for third parties creating many benefits such as giving each user full control and ownership of all personal and corporate data.

For further information, please contact:
Paul Searle
Corporate Communications
Citygate Capital Corp
Phone: (778) 240-7724
psearle@citygatecap.com

Neither the Exchange nor its regulation services provider accepts responsibility for the adequacy of accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding: the expansion and monetization of the Limitless VPN; the growth of the Company’s userbase; and growth strategies of the Company. Factors that could cause actual results to differ materially from those in forward-looking statements include: the continued availability of capital and financing; failure to obtain any approvals, permits, approvals and licenses required to operate the business; technology integration; the impact of technology changes on the industry; lack of demand for the Company’s products and services; fluctuations in access from the Company’s userbase; userbase utilizing inefficient or legacy hardware and software; competition; increase in operating costs; litigation; loss of key employees, consultants and directors; security threats; privacy and cybersecurity risks and failures; failure to develop new and innovative products and services; failure of counterparties to perform their obligations; the impact of the Covid-19 pandemic on the Company’s ability to operate and hire personnel; and adverse general economic, market or business conditions. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products and services, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, and the ability to secure sufficient capital to complete its business plans. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Such forward-looking statements should therefore be construed in light of such factors, and, except as required by applicable law, the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

FAQ

What is the significance of Cloud Nine Web3 Technologies' announcement on April 6, 2022?

Cloud Nine announced a shift towards revenue generation and updated its management team, focusing on its Limitless technology suite.

When is the Limitless VPN expected to relaunch?

The Limitless VPN is expected to relaunch in Q2 2022.

What stake does Cloud Nine have in Next Decentrum?

Cloud Nine currently holds a 16% stake in Next Decentrum and has the right to increase it to 27.6%.

What does the updated website for Cloud Nine Web3 Technologies feature?

The updated website includes information on investee companies, news releases, and an investor center with downloadable materials.