Proposed MGT CEO John McAfee Comments on Presidential Bid and Cyber Technology

On Sunday afternoon May 29th, John McAfee conceded the Libertarian Party nomination for President of the United States to former New Mexico Governor Gary Johnson. Throughout his nearly yearlong campaign, Mr. McAfee continually highlighted issues of privacy, security and cyber threats that confront people across the globe. He provoked dialog on the technology people welcome into their homes, vehicles and pockets to provide convenience and enrichment, but also open a gateway for major threats to privacy and security.

As a successful entrepreneur and cybersecurity pioneer, Mr. McAfee is best known for creating the McAfee anti-virus software suite which has been installed on over a billion computers worldwide since its introduction. He is also credited with being an early developer of instant messaging with his company Tribal Voice.

"So many problems in the world can be easily fixed with common sense and a good grasp of the technology that people use daily, as long as we monitor the vulnerabilities caused by these same technologies.  I see my upcoming new role as CEO of an exciting new cybersecurity company as paramount to that mission," Mr. McAfee said at the Libertarian National Convention in Orlando, Florida.

"As Chief Executive of MGT, I will lead a team to aggressively develop technology platforms, software, hardware and components designed to protect people and their freedoms. Under the technical leadership of the Company's proposed Chief Technology Officer, Eric 'Eijah' Anderson, we will be laser focused on bringing these technologies to market."

"It is my life's work," McAfee concluded. "I fully expect that we will leave an even greater and longer lasting impact than the company I created in the 1980's."

As previously announced, MGT has executed asset purchase agreements to acquire certain technology and assets from D-Vasive Inc., a provider of leading edge anti-spy software, and Demonsaw LLC, a provider of a secure and anonymous file sharing software platform.  In conjunction with the anticipated acquisitions, the Company also announced the proposed appointment of John McAfee as Executive Chairman and Chief Executive Officer upon closing of the transactions.  Further, MGT Capital also intends to change its corporate name to John McAfee Global Technologies, Inc. Closing is contingent on customary conditions including approval by MGT's stockholders.