Proposed MGT CEO John McAfee Comments on Presidential Bid and Cyber Technology

HARRISON, N.Y., May 31, 2016 /PRNewswire/ --  MGT Capital Investments, Inc. (NYSE MKT: MGT) today provided a commentary from the Company's proposed Executive Chairman and Chief Executive Officer, John McAfee.

On Sunday afternoon May 29th, Mr. McAfee, conceded the Libertarian Party nomination for President of the United States to former New Mexico Governor Gary Johnson. Throughout his nearly yearlong campaign, Mr. McAfee continually highlighted issues of privacy, security and cyber threats that confront people across the globe. He provoked dialog on the technology people welcome into their homes, vehicles and pockets to provide convenience and enrichment, but also open a gateway for major threats to privacy and security.

As a successful entrepreneur and cybersecurity pioneer, Mr. McAfee is best known for creating the McAfee anti-virus software suite which has been installed on over a billion computers worldwide since its introduction. He is also credited with being an early developer of instant messaging with his company Tribal Voice.

"So many problems in the world can be easily fixed with common sense and a good grasp of the technology that people use daily, as long as we monitor the vulnerabilities caused by these same technologies.  I see my upcoming new role as CEO of an exciting new cybersecurity company as paramount to that mission," Mr. McAfee said at the Libertarian National Convention in Orlando, Florida.

"As Chief Executive of MGT, I will lead a team to aggressively develop technology platforms, software, hardware and components designed to protect people and their freedoms. Under the technical leadership of the Company's proposed Chief Technology Officer, Eric 'Eijah' Anderson, we will be laser focused on bringing these technologies to market."

"It is my life's work," McAfee concluded. "I fully expect that we will leave an even greater and longer lasting impact than the company I created in the 1980's."

As previously announced, MGT has executed asset purchase agreements to acquire certain technology and assets from D-Vasive Inc., a provider of leading edge anti-spy software, and Demonsaw LLC, a provider of a secure and anonymous file sharing software platform.  In conjunction with the anticipated acquisitions, the Company also announced the proposed appointment of John McAfee as Executive Chairman and Chief Executive Officer upon closing of the transactions.  Further, MGT Capital also intends to change its corporate name to John McAfee Global Technologies, Inc. Closing is contingent on customary conditions including approval by MGT's stockholders. 

About MGT Capital Investments, Inc.

MGT and its subsidiaries are principally engaged in the business of acquiring, developing and monetizing intellectual property assets. MGT's portfolio currently includes social casino and gaming platforms, and ownership stakes in DraftDay.com, a top daily fantasy sports wagering platform and DraftDay Fantasy Sports, Inc. operator of an online entertainment marketing and rewards platform.

MGT also recently announced the execution of an asset purchase agreements to acquire certain technology and assets from D-Vasive Inc., a provider of leading edge anti-spy software, and Demonsaw LLC, a provider of a secure and anonymous file sharing software platform.  In conjunction with the anticipated acquisitions, the Company also announced the proposed appointment of John McAfee as Executive Chairman and Chief Executive Officer upon closing of the transactions.  Further, MGT Capital also intends to change its corporate name to John McAfee Global Technologies, Inc. Closing is contingent on customary conditions including approval by MGT's stockholders. 

Forward–looking Statements

This press release contains forward–looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward–looking statements." MGT's financial and operational results reflected above should not be construed by any means as representative of the current or future value of its common stock. All information set forth in this news release, except historical and factual information, represents forward–looking statements. This includes all statements about the Company's plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward–looking statements. These risks and uncertainties include issues related to: rapidly changing technology and evolving standards in the industries in which the Company and its subsidiaries operate; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new business, license and sign new agreements; the unpredictable nature of consumer preferences; and other factors set forth in the Company's most recently filed annual report and registration statement. Readers are cautioned not to place undue reliance on these forward–looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks and uncertainties described in other documents that the Company files from time to time with the U.S. Securities and Exchange Commission.

Investor Contact

Garth Russell  
Managing Director 
KCSA Strategic Communications 
[email protected] 
212.896.1250

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SOURCE MGT Capital Investments, Inc.

Related Links

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