Gopher Protocol Issues Statement Pertaining to Affiliate Status of Third Party Institutional Investor

PERRIS, Calif., May 24, 2019 (GLOBE NEWSWIRE) — Gopher Protocol Inc. (“Gopher” or a “Company”) now announced that on or about May 17, 2019 a third celebration institutional financier (the “Investor”) holding a Senior Secured Redeemable Convertible Debenture antiquated Dec 3, 2018 (the “Debenture”) destined Gopher’s send representative to haven all remaining certified though unissued and above-board shares for a conversions underneath a Debenture. Further, a Investor also submitted a “Delivery Notice,” antiquated May 17, 2019, that was perceived by a Company’s Transfer Agent in honour of a Investor’s ask for a distribution of 21,638,095 (the Delivery Notice was for 31,137,366 shares, reduction 9,499,271 formerly issued) shares of a Company’s common stock. The distribution of a 21,638,095 shares to a Investor compared with a Delivery Notice resulted in a Investor owning in additional of 10% of a now released and superb shares of a Company’s common stock

Due to a component of control over a Company’s finances and operations compared with a reservation and a Investor’s tenure surpassing 10% of a released and superb shares of common stock, Gopher believes that a Investor has turn an “affiliate” of a Company, as that tenure is tangible in Rule 144(a)(1).

About Gopher Protocol Inc.

Gopher Protocol Inc. (OTCPINK: GOPH) (“Gopher”) (http://gopherprotocol.com/) is a development-stage association that considers itself a local IoT creator, building Internet of Things (IoT) and Artificial Intelligence (AI) enabled mobile record platforms. Gopher has a portfolio of Intellectual Property that, when commercialized, will embody intelligent microchips, mobile and confidence applications and protocols, and ancillary cloud software. Gopher’s complement envisions a origination of a tellurian filigree network. The core of a complement will be a modernized microchip record that can be commissioned in any mobile or bound device worldwide. Gopher envisions this complement as a low-cost, secure, private filigree network between any enabled devices, providing common processing, modernized mobile database management/sharing and extended mobile facilities as an choice to normal conduit services.

https://www.avant-ai.net

Forward-Looking Statements
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Contact:
Doug Davis, CEO
Gopher Protocol Inc.
Media: [email protected]

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