PR Newswire | Jan 28, 2021 10:01AM EST

01/28 09:00 CST

Gen2 Announces Strategic Update and Fintellus - Entry Into eKYC Market HENDERSON, Nev., Jan. 28, 2021

HENDERSON, Nev., Jan. 28, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC:BRKK) wishes to update its shareholders on the following key developments, which management believes will enhance shareholder value through greater scale of business revenue and substantially enhanced capital efficiency.

First, we are narrowing our focus in the legacy core camera/hardware business. We are no longer pursuing at this point any "bespoke" deployments for individual customers and have discontinued any focus on industrial deployments of cameras. The sole focus for the foreseeable future will be on the Iris Platform which will be materially funded by the Iris Token. We have received very positive response on this proposition from content providers and other potential participants, as highlighted by our announcement from earlier today.

Separately, the company will look to commercialize its blockchain video IP through the previously announced Blockstone unit. We expect to see substantial interest in a market dealing increasingly with such issues as "deep-fakes" and altered/doctored photographs. We intend to pursue a software and "capex" light model in this business, focusing on licensing our IP to mobile handset makers and operators for inclusion directly into their equipment portfolios. We believe that our IP - which allows for the direct capture of imagery and video into a native format locked down by blockchain technology - has first-mover status and offers substantial scope for licensing.

Next, we will also be launching a third company focused on the promising eKYC market. The company, named Fintellus, will be 51% owned by Gen2 Technologies and will mark our entry into the Fintech space. We will be making a new IP filing in February which will look to address this market opportunity, leveraging our existing knowledge in blockchain-enabled imagery formatting. As with Blockstone, the focus will be on immediate commercialization through licensing deals. Our particular focus will be on existing global enterprise players and others with large existing corporate and governmental client bases. We believe that as KYC continues to move from F2F towards eKYC, the lack of standardization and significant need for performant and efficient solutions will offer substantial scope for us to penetrate and obtain material market share.

Finally, our previously announced plans for PCS Inc. - our proprietary chip development company - remain intact and unaltered.

For further queries, please feel free to email our IR at: michael.kovacocy@gen2technologies.com

BRK Inc./Gen2 Technologies Inc. (OTC PINK: BRKK), The foregoing contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are intended to be covered by the safe harbor provisions of the federal securities laws. Forward-looking statements often contain words such as "will," "anticipate," "believe," "plan," "estimate," "expect," "intend," "is targeting," "may," "should," ''poised,'' and other similar words or expressions. Forward-looking statements are made based upon management's current expectations and beliefs and are not guarantees of future performance. Our actual business, financial condition or results of operations may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties which include, among others, those described in any of our other filings with the SEC. In addition, such statements could be affected by risks and uncertainties related to: (i) commercialization of our newly-acquired helmet camera, (ii) continuing development and protection of our intellectual property, (iii) unexpected industry competition, (iv) the need to raise capital to meet business requirements, and (v) our ability to sell our products in order to generate revenues. Forward-Looking Statements are pertinent only as of the date on which they are made, and the company undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Any future public statements or disclosures modifying any of the forward-looking statements contained in or accompanying this news release, will be deemed to supersede such statements in this news release. Information on BRK Inc.'s website, http://www.brkgen2.com does not constitute a part of this release.

Contact:michael.kovacocy@gen2technologies.combrkgen2.com(702) 572-5080

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SOURCE Gen2 Technologies Inc.