This new platform is being built on the blockchain and is backed by a team of well-established experts and leaders with deep roots in the Catholic Church

Los Angeles, CA, May 31, 2019 (GLOBE NEWSWIRE) -- ICOx Innovations Inc. (“ICOx”)(TSXV and OTCQB: ICOX), which designs, builds and manages digital currencies so organizations can grow their businesses by attracting, engaging and retaining customers through the creation of their own digital currency, announced today a new customer, Cathio.

Cathio is a public benefit corporation founded specifically in service of the Catholic economy is applying blockchain technology to offer an easy-to-use payment solution that responds to the needs of the Catholic community, non-profits and institutions.

Cathio’s Board of Directors and advisors include

Former Senator Rick Santorum - Cathio Board Member, former United States Senator and Republican Presidential Nominee

Ambassador Jim Nicholson - Cathio Board Advisor, former United States Ambassador to the Holy See (Vatican)

Ed Moy - Cathio Board Member, 38th Director US Mint

Matt Schlapp - Cathio Board Member, Chairman of the American Conservative Union

Nick Nicholson - Cathio Board Member, Managing Director, Berkadia Commercial Mortgage

Ryan Thomas - Cathio Board Member and Chairman of the Board former Director of News Operations for EWTN: Global Catholic Television Network

Cameron Chell - Cathio Board Member, ICOx Innovations Chairman and co-Founder

“We are excited to announce our new customer Cathio, which will provide the first of its kind payment, remittance and funding platform that will enable the Catholic economy to save money and position it to provide greater transparency of financial transactions and to connect the Catholic community.” said ICOx Innovations President Bruce Elliott.

Under the terms of the agreement, ICOx, through its subsidiary ICOx USA Inc., has been contracted by Cathio to design and build a blockchain based payment and remittance platform for use by the Cathio Network and Catholic Community. ICOx has agreed to work with Cathio in establishing its corporate and financial governance model, network development, payments processing system, and custom consensus infrastructure. The platform will provide simple, trusted transactions and money movement designed to meet the demands of the current regulatory environment through KYC (know your client) and AML (anti-money laundering) compliance and money transmitter licensing.

ICOx USA Inc. has an equity stake in Cathio and has been contracted to develop and implement Cathio, a blockchain-based payments platform for up to $2M and is eligible for ongoing transaction and licensing fees once the platform goes live.

Cathio CEO Matthew Marcolini noted, “ICOx Innovations is a known leader in building blockchain solutions and working with brands to design, build and manage their digital currencies. We know building out the Cathio platform with ICOx will transform the way the Catholic economy moves money.”

Cathio’s Executive team brings a wealth of business, technological and philanthropic expertise with strong ties to the Catholic Church. Matthew Marcolini, CEO, previously worked as the Executive Director for Corsica Partners; Co-founder Ryan Thomas, has worked for more than a decade for the Catholic Church around the world most recently as Director of News Operations for EWTN and Catholic News Agency and co-organiser of the first Vatican Hackathon, VHacks; and Head of Ecclesial Relations, Enrique Elias, has been dedicated to the Catholic Association’s pastoral and cultural initiatives for more than 30 years.

Initial customers that have agreed to be early adopters of the Cathio payment, donation, and remittance platform include:

The Dominican Foundation: The Dominican Friars support the Catholic Church and uphold its doctrines with clear preaching and careful study. Christendom College: Christendom College is a four-year coeducational Roman Catholic Liberal Arts College with undergraduate and graduate programs offered in four locations in Front Royal and Alexandria (Virginia), Donegal (Ireland), and Rome (Italy). The Trinitarian Order: The Brothers of the Holy Trinity are a religious community founded in 1198 by St. John de Matha, to uphold the freedom of all people. Center for Evangelical Catholicism: CEC seeks to advance the New Evangelization by forming Catholics equipped to fulfill the Great Commission by spreading the gospel through parishes, schools, and for-profit enterprises.

About ICOx Innovations

ICOx Innovations (TSXV and OTCQB: ICOX) creates and manages digital currencies for innovative brands to grow their businesses - attracting, engaging and retaining their customers through the creation and use of their own digital currency. ICOx enables brands to provide additional payment options at lower costs while owning more of the transactional data chain and driving new models for customer loyalty. ICOx leverages its expertise in blockchain technology and regulatory compliance to deliver branded digital currencies for its clients.

For more information on ICOx Innovations, please visit us at: www.icoxinnovations.com. For additional investor info visit www.icoxinnovations.com or www.sedar.com and www.sec.gov searching symbol ICOX.

About Cathio

Cathio was founded in 2018 and is working to transform the way the Catholic community moves money. By bringing innovative technology and best practices from the tech world, Cathio is providing a turnkey solution for Catholic organizations to bring their financial transactions into alignment with their beliefs. Cathio was created to address the needs of the Catholic church. With changing demographics and confidence in the Catholic Church, we are creating a solution that incorporates tools to increase donations, move money with reduced cost and greater visibility while driving Catholic community engagement. Visit Cathio’s website for more information: https://www.cathio.com/

Company Contact

Bruce Elliott, President

Phone: 424-570-9446

Bruce.elliott@icoxinnovations.com

Media Contact

ICOx Innovations

Arian L. Hopkins

Communications, ICOx Innovations

arian@icoxinnovations.com

Phone: 424-570-9446 ext. 2

Investor Inquiries

Phone: 424-570-9446 ext. 8

ir@icoxinnovations.com