JERSEY CITY, N.J., March 15, 2018 (GLOBE NEWSWIRE) — Sport Endurance, Inc. (OTCQB:SENZ) (the “Company”) and its wholly-owned subsidiary, Yield Endurance, Inc., today announced entering into a note purchase agreement under which Yield Endurance borrowed $5 million of Bitcoins.
Yield Endurance has been formed to increase liquidity and institutional participation in the cryptocurrency market by providing institutional investors with a platform, operated by its partner, to borrow, hedge, and arbitrage cryptocurrencies that trade on the various cryptocurrency exchanges.
In 2017, it is estimated the securities lending market grew to over $2 trillion, with the lending value or value of securities made available for borrowing growing to over $16 trillion*. The efficiency and management of risk that equities lending provides the institutional investor has not yet been realized with cryptocurrency assets. Yield Endurance hopes to be able to enable institutional investors to emulate practices that are routine in equity markets.
David Lelong, Chief Executive Officer of Sport Endurance and Yield Endurance, stated, “Today, we launch a program with high hopes of allowing the sophisticated institution to utlize tools they have long embraced with share borrows in their portfolios. Through our wholly-owned subsidiary, Yield Endurance, we are providing institutional investors an opportunity to better manage their portfolio and exposure to the cryptocurrency market through a cryptocurrency borrow. We are pleased to launch this initiative with our first loan for $5 million in Bitcoins. This inventory will be used by our partner as it seeks to loan Bitcoin to traders and other institutions. Yield Endurance will share in the monthly fees generated by its partner.”
* Source: DataLend, finance market data provider
About Sport Endurance, Inc. and Wholly-Owned Subsidiary, Yield Endurance, Inc.
Sport Endurance develops, markets, and distributes nutritional supplement products throughout the United States. Through its wholly-owned subsidiary, Yield Endurance, which is hoping to increase liquidity and institutional participation in the cryptocurrency markets by providing institutional investors the ability to borrow, hedge, and arbitrage cryptocurrencies that trade on the various cryptocurrency exchanges including Bitcoin, Bitcoin Cash, Ethereum and Litecoin. In doing so, the Company is facilitating the ability of institutional investors to participate in the fixed income opportunity of cryptocurrency lending. Through the Company’s cryptocurrency lending program operated by its partner, institutional investors will have the ability to better manage cryptocurrency risk and increase yield to maximize return on investment for their funds. Yield Endurance’s cryptocurrency lending program is a diversified lending vehicle for institutional investors who are looking for managed exposure to the cryptocurrency market. For more information, please visit http://www.sportenduranceinc.com and http://www.yieldendurance.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements relating to the Bitcoin program and anticipated fees. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Important factors that could cause actual results to differ from those in the forward-looking statements include the Company’s need for capital, the future condition of the capital markets in general and the market for microcap securities, and regulatory and other developments in the markets for cryptocurrency including substantial price declines. Investors should carefully review the risk factors in the Form 8-K filed with the Securities and Exchange Commission on March 14, 2018. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Sport Endurance, Inc.
David Lelong, President and CEO