AMPD Provides Corporate Update Amid COVID-19 Outbreak
March 24, 2020
Vancouver, British Columbia – Tuesday, March 24, 2020 – AMPD Ventures Inc. (“AMPD” or the “Company”, CSE: AMPD; FRA: 2Q0) provides update to AMPD shareholders, stakeholders and customers.
The past few weeks have seen extreme disruption around the world, including volatility in capital markets, driven by uncertainties surrounding COVID-19.
With AMPD’s focus being primarily on digital industries and the ability for many of our customers to remote compute, we remain confident in growth opportunities in our business and the network of industries we work within. AMPD recently completed a private placement and expect that the Company has the financial resources to deal with the anticipated economic conditions that COVID-19 may cause. There do not appear to be any significant interruptions to the AMPD supply chain.
We remain operationally focused, and expect to be well positioned to maintain industry-wide demand for our infrastructure and services. Media reports are indicating that there has been an increased interest in computer gaming, eSports and other digital media consumption during the crisis. For example, PC-game digital distribution platform, Steam, has been experiencing record numbers of over 20M concurrent players connecting to its service since social distancing mandates were introduced around the world.
COVID-19 demands both local and global efforts to protect the most vulnerable, to study this virus, and to care for the sick.
We are pleased to provide an update on the ways in which AMPD is doing its part.
At our AMPD Head Office and Data Centres
We implemented a national work-from-home policy which began on Monday, March 16, 2020. Employees and contractors are currently working remotely using our cloud-based subscriptions and collaborative communications tools to help maintain a business-as-usual standard across the Company. Our employees are remaining as productive while ensuring their safety and security and the safety and security of their families.
- AMPD has been leveraging our strengths in high-performance computing to assist our key customers in their transition to work-at-home policies by, for example, increasing bandwidth to our data centres to improve access to resources that people are now using remotely.
- We are accelerating the development of our platform that facilitates effective remote infrastructure utilization across a wide range of sectors, primarily via powerful remote workstation technologies and other collaborative tools. This has been a key area of development for AMPD and the current situation has prioritized this area of the business.
Global health and geopolitical tensions have been making news headlines, and business and investment media also have reported a recent devaluation in the financial markets. AMPD is subject to the same set of market conditions as almost every other tech company in the world. We continue to make progress in developing our customer pipeline and the development of our second data centre, DC2.
Since going public in 2019, AMPD has been working on ramping up its digital marketing communications as part of an initiative to increase shareholder awareness and customer acquisition. We recently hired Mishka Gounden, a corporate communications professional with over ten years of experience in public market communications. Mishka will spearhead the implementation of our digital marketing program, which will include a series of industry-focused blog posts, investor and customer targeted newsletters, employee spotlights, business updates and social media campaigns. The first issue of the AMPD Newsletter will also provide answers to various Frequently Asked Questions (“FAQs”) we have recently received from our stakeholders. To receive the newsletter, investors, customers and stakeholders are encouraged to sign up at www.ampd.tech.
About AMPD Ventures Inc.
AMPD specializes in providing high performance cloud and compute solutions for low latency applications, including video games and eSports, digital animation and visual effects, and big data collection, analysis and visualization. The shares of AMPD are listed on the Canadian Stock Exchange (symbol AMPD) and the Frankfurt Exchange (symbol 2Q0). For further details on AMPD Technologies, readers are referred to the Company’s website (www.ampd.tech) and to Canadian regulatory filings on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
AMPD Ventures Inc.
CEO and Director
For further information please contact:
Tel: 604-332-3329 ext. 3
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Certain statements made herein may contain forward-looking statements or information within the meaning of the applicable Canadian securities laws. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information herein include, but are not limited to, the growth opportunities in our business and industries we work within, impact of COVID-19 on our financial resources, employees, and supply chain, and consumption of computer gaming, eSports and other digital media, and our digital marketing program.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information, including the impact of COVID-19 on global economic conditions, our supply chain, our financial resources, our customers, our prospects and our relevant industries, the ability to maintain sufficient financial resources, and timing of our digital marketing program. Although our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include uncertainty regarding the impact of COVID-19 on global economic conditions, our supply chain, our financial resources, our customers, our prospects and our relevant industries those factors discussed in the section entitled “Risk Factors” in the Company’s Form 2A Listing Statement dated October 17, 2019 and “Risk and Uncertainties” in the Company’s most recent Management Discussion and Analysis filed on SEDAR.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada.
All forward looking statements and information contained in this News Release are qualified by this cautionary statement.