HARRISON, N.Y., June 23, 2016 /PRNewswire/ -- MGT Capital Investments, Inc. (NYSE MKT: MGT) today announced that it expects to file its Preliminary Schedule 14A Proxy Statement with the Securities and Exchange Commission ("SEC") by June 30, 2016. The Proxy Statement will provide information to stockholders for voting upon the Company's announced acquisitions of D-Vasive and Demonsaw, as well as the election of John McAfee as Executive Chairman of the Board and CEO, along with other proposals. Subject to SEC review, and mandatory notice requirements, MGT's shareholder meeting is expected to occur in August 2016.
"We are pleased to update shareholders on the status and timing of our previously announced initiatives," said Mr. McAfee. "I am working tirelessly towards accomplishing my greater vision for the Company and the industry. Highlighting our progress are the recent announcements surrounding the establishment of several advisory boards complete with the appointments of key opinion leaders. We are excited to hit the ground running and to move forward with developing the most innovative cyber security company in the market."
McAfee concluded, "Although I am personally not known for my patience, current management and the proposed leadership teams are committed to the highest standards of transparency and corporate governance as we prepare for the future of this Company. A transaction of this size and type by a publicly listed company requires great attention to detail by our attorneys and accountants. We have also held preliminary discussions with Exchange officials regarding qualifying for NASDAQ or up listing to the 'main board' of the New York Stock Exchange from NYSE MKT."
About MGT Capital Investments, Inc.
MGT Capital Investments, Inc. (NYSE MKT: MGT) is in the process of acquiring a diverse portfolio of cyber security technologies. With cyber security industry pioneer, John McAfee, at its helm, MGT Capital is positioned to address various cyber threats through advanced protection technologies for mobile and personal tech devices, including tablets and smart phones. The Company is currently in the process of acquiring D-Vasive, a provider of leading edge anti-spy software, and Demonsaw, a provider of a secure and anonymous file sharing software platform.
MGT Capital intends to change its corporate name to "John McAfee Global Technologies, Inc." upon closing of the D-Vasive transaction.
For more information on the Company, please visit http://ir.stockpr.com/mgtci.
This press release contains forward–looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward–looking statements." MGT's financial and operational results reflected above should not be construed by any means as representative of the current or future value of its common stock. All information set forth in this news release, except historical and factual information, represents forward–looking statements. This includes all statements about the Company's plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include issues related to: rapidly changing technology and evolving standards in the industries in which the Company and its subsidiaries operate; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new business, license and sign new agreements; the unpredictable nature of consumer preferences; and other factors set forth in the Company's most recently filed annual report and registration statement. Readers are cautioned not to place undue reliance on these forward–looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks and uncertainties described in other documents that the Company files from time to time with the U.S. Securities and Exchange Commission.
KCSA Strategic Communications
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SOURCE MGT Capital Investments, Inc.
Released June 23, 2016