Vancouver, British Columbia--(Newsfile Corp. - October 31, 2025) - Republic Technologies Inc. (CSE: DOCT) (FSE: 7FM0) (WKN: A41AYF) (the "Company" or "Republic") is pleased to provide this comprehensive news release outlining recent management updates, corporate developments, and business strategies for Q2 and Q3 2025.
Management Update
At the Company's Annual General and Special Meeting held on August 9, 2025, Republic announced the appointment of Mr. Tianrui Zhang as an independent director. Mr. Zhang also assumes the role of Chair of both the Audit Committee and the Governance, Compensation, and Nomination Committee. In addition, the Company confirmed the appointment of Ms. Litong Cao, current Chief Operating Officer, as Director and Secretary.
The Company's current management team and Board of Directors are as follows:
Daniel Liu - Chief Executive Officer and Chair of the Board
Mr. Daniel Liu brings significant leadership experience across the technology and investment sectors. Prior to founding Republic Technologies, Mr. Liu co-founded Float, a partner exchange with OKX, one of the world's largest cryptocurrency exchanges, which scaled to exceed US$100 million in daily trading volume in 2018. He also led the development of RelayX, a precursor to today's OKX wallet. Earlier in his career, Mr. Liu worked at CIT Bank, where he closed more than US$4 billion in financings in the energy sector. As Chief Executive Officer, Mr. Liu is responsible for guiding the Company's strategic vision, overseeing capital markets initiatives, and advancing its digital transformation agenda. He holds a Bachelor of Science in Business Administration and Management from the University of Southern California.
Litong Cao - Chief Operating Officer, Secretary and Director
Ms. Litong Cao is an operator with deep expertise in the technology sector. Ms. Cao previously served as Chief Operating Officer at Parallel, an institutional-grade lending protocol for POS blockchains, where Ms. Cao led strategic operations during the company's US$30 million fundraise from Sequoia Capital, Lightspeed, and Founders Fund, and helped scale its infrastructure to over US$800 million in Total Value Locked. Ms. Cao was previously Partner, Head of Investments at a family office, where she oversaw a US$1 billion digital asset portfolio. Ms. Cao's proven ability to scale organizations and execute high-growth strategies will be instrumental as Republic advances into its next stage of growth. Ms. Cao holds a Bachelor of Arts degree in Quantitative Economics and Sociology from the University of California, Los Angeles.
Stevenson Ty - Interim Chief Financial Officer
Mr. Stevenson Ty brings over a decade of financial leadership experience spanning both public and private companies across diverse industries, including mineral exploration, bitcoin mining, and technology. Since 2016, he has led Ty Consulting Inc., providing strategic corporate accounting services to Canadian public and private enterprises. Mr. Ty is a Chartered Professional Accountant (CPA) and holds a Bachelor of Technology in Accounting from the British Columbia Institute of Technology.
Tianrui Zhang - Independent Director
Mr. Tianrui Zhang brings extensive venture capital expertise and strategic investment acumen to Republic's Board. As Managing Partner of a family office with over US$200 million in assets under management, he specializes in identifying and scaling transformative opportunities in consumer technology, artificial intelligence, and blockchain. His portfolio includes category-defining companies such as Weee! (online grocery marketplace), AiFi (autonomous retail technology), Canaan (semiconductor and blockchain infrastructure), and Polkadot (blockchain interoperability protocol). Mr. Zhang's investment career spans both Asian and North American markets, with prior roles at IDG Everbright (managing RMB 20 billion in industry funds), iFly, Oriza, and Grandshore Blockchain. Since 2018, he has been recognized as a thought leader in blockchain and cryptocurrency markets, beginning as an early Bitcoin mining operator in China and subsequently developing a broad network across the digital asset ecosystem. Mr. Zhang attended the University of California, Berkeley.
Hongming Luo - Independent Director
Mr. Hongming Luo is a seasoned entrepreneur and technologist with a distinguished track record in artificial intelligence, infrastructure, healthcare technology, and derivatives markets. He previously served as Investment Lead at Mask Network, which manages a $100 million ecosystem fund dedicated to frontier technologies. Mr. Luo is also the Co-founder of Next.ID, an infrastructure protocol designed for decentralized identity (DID) creation, relationship mapping, and secure data integration across diverse digital identifiers. In addition, he co-founded PulzAid, an innovative medtech company that developed advanced triage systems to optimize patient intake and alleviate emergency room congestion. Mr. Luo holds both a Bachelor's and a Master's degree in Computer Science from the University of California, Berkeley.
Corporate Updates
Rebranding
On June 27, 2025, the Company provided an update highlighting progress toward its proposed rebranding to Republic Technologies Inc. and the ongoing integration of Ethereum infrastructure. On July 16, 2025, the Company announced that it had formally changed its name to Republic Technologies Inc., effective July 15, 2025. The Company's shares continue to trade on the Canadian Securities Exchange under the ticker symbol "DOCT".
The new name, Republic, reflects the Company's broader commitment to decentralization, transparency, and democratized access to secure systems. Inspired by the philosophical foundations of Plato's Socratic dialogue, the name underscores Republic's long-term vision of building a more inclusive and equitable digital economy. The Company has also updated its website, corporate materials, and regulatory filings to reflect the new name.
Financings
On June 4, 2025, the Company (then Beyond Medical Technologies Inc.) closed the first tranche of its non-brokered private placement of senior secured convertible notes, raising CAD $1.68 million (USD $1.2 million). The notes are convertible at CAD $0.41 per share or 70% of the lowest issuance price prior to maturity, subject to a floor price of CAD $0.25, with a 24% premium payable if not converted. Proceeds are being used for working capital and to acquire ETH for the Company's attestation business.
On June 23, 2025, the Company completed the second and final tranche, raising an additional CAD $418,750. These notes are convertible at CAD $0.53 per share, carry a 12-month term with a 15% premium if not converted, and automatically convert if the 10-day VWAP exceeds CAD $1.06. Proceeds are allocated to working capital and expansion of the attestation platform.
Please see the Company's news releases dated June 4, 2025 and June 23, 2025 for further details.
Business Developments
On July 29, 2025, the Company announced its integration with Kraken, a global digital asset exchange, to support the execution and expansion of its Ethereum validator and attestation operations.
On August 5, 2025, the Company entered into a strategic partnership with BitGo to safeguard its Ethereum infrastructure operations and digital asset treasury with institutional-grade custody and staking solutions. Through this partnership, the Company will leverage BitGo's custody-integrated staking to generate rewards on its ETH treasury while ensuring assets remain under BitGo Trust custody.
On September 11, 2025, the Company announced a strategic partnership with FalconX, a digital asset prime brokerage, to provide ETH liquidity and execution support for the Company's validator infrastructure, which underpins its attestation services.
On September 19, 2025, the Company announced a strategic engagement with Fireblocks, a leading enterprise platform for digital asset custody, to enhance governance, risk management, and security for its ETH-denominated treasury and validator operations.
Operations
On August 20, 2025, the Company reported the results of its Annual General and Special Meeting of Shareholders (the "2025 AGM"), held on August 19, 2025. At the AGM, shareholders fixed the number of directors at four and elected Daniel Liu, Hongming Luo, Tianrui Zhang, and Litong Cao to the Board. Shareholders also appointed Charlton & Company, CPA as auditor and approved (i) an ordinary resolution adopting a new 20% rolling long-term incentive plan (the "LTIP") and (ii) a special resolution deleting and replacing the Company's articles (the "Articles"). The Articles and information circular are available on SEDAR+.
On September 4, 2025, the Company announced that the Board approved an Advance Notice Policy, effective immediately. The Advance Notice Policy requires that advance notice be provided to the Company in circumstances where nominations of persons for election to the Board are made by certain shareholders.
Business Strategy
General
The Company's business is focused on leveraging blockchain infrastructure to build secure, verifiable data infrastructure that serves the public good, including but not limited to healthcare, regulatory compliance, supply chain management, financial services, education, and beyond.
The Company aims to operate attestation services powered by validator infrastructure. Validators propose new blocks, confirm transactions, and-most importantly-generate attestations, which are cryptographic votes on the validity of newly proposed blocks. These attestations are digital signatures submitted by validators to confirm both the block and its underlying transactions. This attestation mechanism forms the foundation for a wide range of general-purpose, on-chain use cases that are increasingly adopted by both public- and private-sector actors.
Since the attestation process will require the Company to hold and stake ETH under the Proof-of-Stake (PoS) mechanism, the Company has established an ETH-denominated treasury. The Company records ETH as a core operational asset on its balance sheet and requires ETH to support validator activation and infrastructure growth.
Summary
To support the Company's primary business objective above, the Company is focused on the following two pillars:
Infrastructure Services
The Company seeks to operate validator software that stakes ETH to confirm transactions, propose and add new blocks, and maintain consensus on the Ethereum blockchain. Through these activities, validators generate attestations-cryptographic digital signatures that verify both the validity of each block and its underlying transactions. The Company views general-purpose attestations as an emerging standard increasingly adopted by both public and private sector actors. These include proof-of-ownership, proof-of-data, identity verification, and other digitally signed attestations that enable individuals, organizations, and systems to create verifiable, tamper-proof claims on the blockchain. This capability serves a broad range of institutional and retail clients across sectors, including biotechnology, consumer industries, regulatory compliance, supply chain management, artificial intelligence, financial services, and education.
The Company expects to generate revenue primarily through service fees for attestation activities. In the attestation process, the Company's validators will receive attestation requests, such as verifying the validity of proposed blocks and voting on block finality. These attestation requests are generated by a wide range of on-chain activities, including signing digital signatures, completing transactions, processing cross-border payments, verifying messages or content, authenticating identity for event ticketing, redeeming loyalty rewards from applications, and participating in corporate governance votes. These assignments are drawn from the general validator set through Ethereum's consensus protocol, meaning that many attestation requests originate from outbound clients with whom the Company may or may not have direct relationship. The protocol automatically routes these requests to the Company's platform for attestation. When these duties are performed in accordance with protocol rules, fees are credited on-chain to the Company's designated withdrawal address.
The Company is currently in the pre-commercialization stage of its services. At this stage:
Infrastructure Partnerships. The Company is focused on onboarding a select group of infrastructure partners and pursuing deep collaboration with them, including the potential white-labeling of their core components for business use. These partnerships are designed to accelerate time-to-market by leveraging proven technology stacks rather than building all stacks in-house, thereby reducing development risk and ensuring institutional-grade performance from the outset. The Company is prioritizing partners with established track records in digital asset custody, validator operations, and enterprise blockchain integration. By embedding these components into its service architecture under white-label arrangements, the Company can maintain brand consistency and product control while relying on battle-tested systems for security and reliability. This partnership strategy also enables flexible scaling as demand increases, giving the Company access to operational redundancy, technical support, and global coverage without incurring disproportionate upfront capital costs.
Technology Evaluation. The Company is actively testing different infrastructure providers and their respective services to determine optimal integration pathways. For example, while Fireblocks and BitGo both offer custodial solutions, the efficiency of transaction processing, quality of user experience, and breadth of API integrations differ across platforms. Fireblocks offers a highly networked ecosystem with rapid transaction routing and strong institutional adoption, whereas BitGo provides more conservative custody frameworks with multi-signature security and regulatory licensing in multiple jurisdictions. These distinctions matter when integrating with downstream financial partners, exchanges, and liquidity providers, as performance and compliance requirements vary depending on transaction volume and jurisdictional oversight. In parallel, the Company is assessing validator infrastructure across providers offering Distributed Validator Technology (DVT), slashing insurance, and redundancy protocols to ensure both technical resilience and institutional-level risk mitigation. As the Company builds its business stack, these evaluations allow it to mix-and-match providers for an optimal balance of cost efficiency, speed, compliance, and security, creating a modular architecture that can evolve with changing regulatory and market conditions.
Compliance Framework. The Company is diligently establishing a robust internal compliance framework. Because business operations directly involve the use of both the Company's treasury and its partners' resources, it is essential to implement a mature compliance system that governs access rights, enforces segregation of duties, and ensures proper authorization for all financial activities. This framework includes multi-layered approval processes, monitoring and reporting protocols, internal audits, and adherence to applicable regulatory standards. The goal is to build an operational environment where sensitive data and financial transactions are safeguarded through strong governance, reducing the likelihood of mismanagement, unauthorized access, or regulatory breaches. The Company's compliance initiatives are also designed to align with expectations of institutional investors, including sovereign wealth funds, family offices, and asset managers, who require demonstrable risk management systems before allocating capital.
Given that the attestation business may expose clients' information to smart contract risks and financial risks, the Company believes the most prudent approach is to integrate established, market-tested infrastructure components that can significantly mitigate such risks while ensuring institutional-grade reliability. The Company anticipates bringing the business to commercialization within six months, with initial development costs estimated at approximately $5 million.
Treasury
Under Ethereum's Proof-of-Stake (PoS) consensus mechanism, attestators are required to hold and stake ETH in order to conduct the attestation process. The scale of ETH staked through an attestator's infrastructure directly enhances its capacity to secure the network and generate accurate, reliable attestations. In this context, the Company has established an ETH-denominated treasury, records ETH as a core operational asset on its balance sheet, and intends to expand the size of its ETH holdings to support the attestation business as necessary.
The Company has raised ETH through a combination of equity and debt financings. Capital is raised and deployed with the objective of optimizing the cost of capital through disciplined balance sheet management, the strategic timing of issuances, and the allocation of proceeds to ETH acquisitions and validator development.
For further information, please see the Company's Annual Information Form dated September 16, 2025 available on the Company's SEDAR+ profile at www.sedarplus.ca.
Outlook for Q4 2025 and Beyond
The Company is developing its business through the following initiatives:
Partnership Alignment: The Company is actively pursuing strategic partnerships with established Ethereum infrastructure providers, custodians, and institutional-grade staking platforms. These collaborations are designed to expand validator capacity, enhance system resilience, and reinforce market credibility by aligning with trusted industry leaders. By leveraging partnerships, the Company hopes to accelerate adoption, share technical expertise, and integrate best-in-class infrastructure standards to better serve institutional clients.
Attestation Platform Commercialization: A central priority is the commercialization of the Company's attestation platform. The commercialized platform will provide visibility into key technical metrics, including latency, uptime, finality checkpoints, epoch performance, overall network health, unbonding status, and slashing risk, ensuring enterprise clients can monitor performance and reliability with transparency and precision. Following the launch of the attestation platform the Company will continue building on strategic partnerships with industry-leading companies, the platform may be scaled to handle a greater volume of attestations and be repositioned to serve a broader base of institutional clients.
Treasury Expansion and Management: The Company's ETH-denominated treasury serves as a core operational requirement, providing the capital base necessary to operate validators and secure the Ethereum network. The Company plans to systematically expand its ETH holdings, while generating sustainable revenue through the deployment of these assets into attestation operations. In parallel, the Company is advancing research into new revenue models and diversifying streams derived from attestation activities. This includes exploring innovative service models for enterprise clients and pursuing integrations with leading technology partners to optimize ETH-related operations across the workflow.
Global Education and Business Development: To foster adoption of attestation standards, the Company is committed to thought leadership, ecosystem engagement, and enterprise education. Through participation in global conferences, proposed engagement with regulators, and development of industry-specific case studies, the Company hopes to highlight the role of attestations in enabling secure, tamper-proof verification. These initiatives are designed to accelerate institutional trust, onboard enterprise partners across sectors, and establish the Company as a global leader in blockchain-based attestation infrastructure.
About Republic Technologies Inc.
Republic Technologies is a publicly traded technology company integrating Ethereum infrastructure into the global economy. Backed by an ETH-denominated treasury, we aim to operate proprietary validator and attestation networks to safeguard data integrity for universal applications.
On behalf of the Board of Directors,
Daniel Liu, Chief Executive Officer
Email: daniel@republictech.io
https://republictech.io/
Neither the Canadian Securities Exchange nor its Regulation Services Provider has reviewed or accepts responsibility for the accuracy or adequacy of this release.
Forward-Looking Statements
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to: the Company's expectations, strategies and plans; the development and commercialization of the Company's attestation platform; expectations about the Company's plan to scale a proprietary validator infrastructure on the Ethereum network; expectations that the Company will expand into regulated sectors such as education, logistics and financial services by onboarding additional enterprise clients to its attestation program; the expectation that general-purpose attestations will be increasingly adopted by both public and private sectors; the expectations about the Company's ability to maintain and scale its Ethereum-denominated treasury to support its attestation business; expectations about the Company's ability to generate revenue via its attestation operations; expectations about the Company's strategy to evaluate and select service providers; the Company's plans to build an operational environment safeguarded through strong governance; the Company's plans to participate in global education and business development to highlight the role of attestations in enabling secure, tamper-proof verification; and all other timing, development, operational, financial, economic, legal, regulatory and political factors that may influence future events or conditions as such matters may be applicable.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company will have the required resources to achieve its business plans; that the Company will be able to retain and maintain key personnel and third party consultants required to achieve its business objectives; that the Company will be able to develop and commercialize its attestation platform; that the Company will be able to scale a proprietary validator infrastructure on the Ethereum network; that the Company will be able to expand into regulated sectors such as education, logistics and financial services; that general-purpose attestations will become an emerging standard increasingly adopted by both public and private sector actors; that the Company will be able to maintain and scale its Ethereum-denominated treasury to support its attestation business; that the Company will generate revenue by deploying the company's Ethereum holdings into its attestation operations; that the Company will onboard and collaborate with infrastructure partners to enable flexible scaling as demand increases; that the Company will effectively evaluate and select service providers to obtain an optimal balance of cost, efficiency, speed, compliance and security; that the Company will build an operational environment safeguarded through strong governance; that the Company will participate in global education and business development to highlight the role of attestations enabling secure, tamper-proof verification; that the Company will address any potential cybersecurity threats promptly and effectively.
Additionally, forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not be able to raise capital necessary to fund its operations; that the Company will be unable to develop and commercialize its attestation platform; that the Company will be unable to scale a proprietary validator infrastructure on the Ethereum network; that the Company will be unable to expand into regulated sectors; that general-purpose attestations will not become an emerging standard increasingly adopted by both public and private sector actors; that the Company will be unable to maintain and scale its Ethereum-denominated treasury to support its attestation business; that the Company will be unable to promptly and effectively address cybersecurity threats; that the Company will not have sufficient resources to maintain its operations on a competitive basis, and those other risks as more fully described in the Company's Annual Information Form and other filings made by the Company with Canadian securities regulatory authorities under the Company's profile at www.sedarplus.ca.
The forward-looking statements contained in this press release represent management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this press release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this press release by you or any of your representatives or for omissions from the information in this press release.
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SOURCE: Republic Technologies Inc.
