Nasdaq GlobeNewswire

DigitalTown Announces Global Launch of CityShares

Del

Local Ownership Model for City Platform Cooperatives built on Blockchain

SEATTLE, Dec. 07, 2017 (GLOBE NEWSWIRE) -- DigitalTown, Inc. (OTC PINK:DGTW), the leading provider of People-centric Solutions for Smart Cities, announced today the beginning of the free claim period for CityShares, or fractional interests, in its Smart City platforms across nearly 4 million cities, towns and villages around the world. The announcement makes it possible for any city to become a Smart City based on the DigitalTown platform.

A PowerPoint presentation accompanying this announcement is available at  http://www.globenewswire.com/NewsRoom/AttachmentNg/6287d2a9-d481-4e0e-a162-9c3f224daeb1

Since the introduction of DigitalTown in London in June 2017, management at DigitalTown has been in discussions with stakeholders in cities and towns around the world to introduce its flagship Platform Cooperative for Cities. The groundbreaking platform is designed to equip any community with the tools with which to be more effective in keeping money in their local economies while making its citizens happier and more prosperous through a process of co-creation. Each city effectively becomes its own Google, Expedia, AirBnB, OpenTable, PayPal and Bitcoin, all in one, and all branded in the identity of the city through a city-branded web presence and a mobile application, and locally owned. Residents and visitors are able to search, connect, share and shop local, transacting directly with the local merchants, with commission revenues benefiting local stakeholders.

Rob Monster, CEO of DigitalTown commented on the announcement, explaining "AirBnB and Uber have shown the world the power of the Sharing Economy to tap the productive capacity of individual citizens in a community.  Blockchain, and in particular Bitcoin, has shown the world the power of distributed ledgers as alternative stores of value and as an efficient medium of exchange. With DigitalTown, we aim to bring these proven digital success models to cities, towns and communities of all sizes, empowering them to become sovereign economies where the digital platform serves the people, and is owned either by the people or for the people."

With the ability to have citizen ownership of a DigitalTown, any community can become a Smart City and also be part of the DigitalTown Global Network. DigitalTown is now live in Austin, London, and Nashville. Pensacola, Pittsburgh and San Diego are scheduled to follow in January 2018.   Any city in the world that wishes to become a DigitalTown can license the platform at DigitalTown.com. Alternatively, citizens can directly sign up at DigitalTown.com. When either 1% of the citizens, or 1000 citizens total, of any of the nearly 4 million listed communities have verified their interest in becoming a DigitalTown, the process of becoming a DigitalTown begins with the city typically live within 90 days.

To find out more about becoming a DigitalTown, visit DigitalTown.com.

About DigitalTown
DigitalTown, Inc. (DGTW) powers Smart Cities to succeed in the Digital Age. The company provides turn-key hosted solutions to power "Digital Towns", which improve Quality of Life for residents and visitors through locally owned solutions for economic development, civic engagement and digital inclusion for cities around the world. For more information about the company, please visit www.digitaltown.com

Safe Harbor Language: Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act 1995. Readers are cautioned not to place undue reliance on forward-looking statements. DigitalTown, Inc. undertakes no obligation to update any such statements to reflect actual events.

Media Contact:
Rob Monster, Chief Executive Officer 
(425) 295-4564; rob@digitaltown.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: DigitalTown via Globenewswire

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