Media Release (Correction)

We hereby inform you that the media releases dated October 20th and November 8th, 2018 published on Ruden Blockchain Project’s website were incorrect and misleading and therefore would like to correct the messages conveyed in those media releases.

In terms of the media release dated October 20th, the headline of “FSA & SEC approve world’s first blockchain project by a listed company” and the statement of “In a world first, the Japanese SEC & FSA…… to issue the Ruden Blockchain token (RDC).” were incorrect and misleading. In terms of the media release dated November 8th, the statement of “Investors are citing the approval from the Japanese SEC & FSA.” was also incorrect and misleading. In fact, neither the FSA nor the SEC (Securities and Exchange Surveillance Commission) has approved Ruden Blockchain Project in any sense.

The reason why such incorrect and misleading releases have been made is that Ruden had delegated its media promotion function relating to Ruden Blockchain Project to Blockshine Technology. Pursuant to such delegation, Blockshine Technology marketing team was preparing a draft media release with regard to launch of Ruden Blockchain Project but misinterpreted the press release published on October 20th by Ruden Holdings, Inc., a parent company of Ruden Singapore, as an announcement that Ruden Blockchain Project has been legally approved by Japanese regulators. Blockshine Technology prepared the official announcements based on such misinterpretation and published them without Ruden’s review or authorization.

While the offering period for Ruden Blockchain Project terminates on November 20th as scheduled, we have decided to postpone the payment date and the listing date to December 19th and December 20th, respectively,  so that we may eliminate misunderstandings caused to everyone who has subscribed for Ruden Blockchain Project based on the incorrect and misleading information and re-confirm each subscriber’s intent of subscription during the extended period. A mere subscription order is not still legally binding and Ruden will accept payment of subscription money only from subscribers who have entered into a subscription agreement with Ruden.

These two official announcements have been prepared and published by Blockshine Technology under its sole responsibility. While Ruden has not been involved in the process, we now acknowledge Ruden should have participated in the process and will do so going forward. We sincerely apologize for the confusion caused.

Ruden Singapore

Blockshine Technology


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