TORONTO, Sept. 30, 2022 (GLOBE NEWSWIRE) — Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) announces the historic and first-ever Lux”) similar forward sale of uranium. Lux operates the Lux Network, the first decentralized blockchain to be integrated and operated with a network of regulated banking and remittance partners. Up to £20m U3〇8 From the uranium project in Madison, Namibia following the start of commercial production. Fulfillment of U3〇8 Delivery backs the first-ever uranium-backed non-fungible token (“NFTs”).
Duane Parnham, Chairman and CEO of Madison Metals, said: “We believe there are many benefits to futures selling a portion of our assets in this way. To explore, develop and mine our property while generating additional revenue through token trading fees. We look forward to providing you with non-dilutive capital of
Mr. Pernum continued, “Lux’s team is highly capable and has a track record of launching and driving demand for some of the world’s most innovative products, generating billions of dollars in revenue.”
Lux NFTs bring liquidity and universal access to the uranium market, ushering in a new era of both tokenization of physical assets and distribution of the most valuable resource on the planet. Lux Uranium NFTs will be created exclusively on the Lux Network, but will be available on all major blockchains thanks to the Lux Standard for asset-backed NFTs.
Starting October 15th, 2022, Lux Uranium NFTs will be available for minting to virtually anyone in the world through the Lux Market. By selling directly to retailers, Lux is able to offer the lowest possible prices to buyers and broker opaque and inefficient financing with transparent and clear pricing. For more information, see Lux.Market.
“We are pleased to form this strategic alliance with the Madison resource team to support the launch of Lux Uranium and the blockchain Lux Network (Lux.Network), which will enhance minting, trading and staking of NFTs.” will be,” said Zach Kelling. CEO of Lux Partners. “Through staking, users are exposed to rising uranium markets while earning additional fees from financing and liquidity. We look forward to unlocking greater price discovery, asset value and liquidity.”
Lux will first tokenize £7.65m of U3〇8 Madison’s contribution to the Lux partnership. This will be followed by a further £12.35m minted by him as directed by the market. The token sale is intended to generate cash that will be returned to Madison and royalties from transaction fees. Madison’s capital earnings are used to advance compliant resource/reserve figures, as well as engineering, economic research, and mining. Madison also manages a risk assessment program and hedge book to purchase additional uranium products on an as-needed or tax-free basis as needed.
Learn more about Madison’s evolution via the newly branded madisonmetals.ca website and updated company presentations.
In connection with the forward sale agreement, Madison will issue 3 million shares of its common stock to armed consultant advisors who made referrals and facilitated the transaction. The price of common stock issued under the agreement is $1.22 Canadian as of the market close on Thursday, September 29, 2022.
About Madison Metals
Madison Metals Inc (CSE: GREN) (OTCQB: MMTLF) is an upstream mining and exploration company focused on sustainable uranium production in Namibia and Canada. Madison Metals is well positioned to bring advanced uranium assets to market quickly using cutting-edge technology and modern strategies.
With more than 50 years of mining experience, including 22 years in Namibia, the company’s management team has geological and financial expertise and a track record of creating shareholder value.
Additional information about Madison Metals Inc. can be found in the company’s SEDAR profile at madisonmetals.ca and www.sedar.com.
About Lux Partners
Lux is an Isle of Man-based fintech company that partners with regulated and licensed money transfer operators. Lux enables financial institutions to leverage blockchain technology use cases in tax-friendly and regulatory environments with proper compliance, KYC, and AML procedures. Lux executives have extensive experience managing transactions and investments across a wide range of industries. Institutions and governments alike can send and receive tokenized assets with proper compliance, KYC, and AML procedures. Lux processes transactions in cryptocurrencies and fiat currencies as it can natively process Swift and Fed wires from the blockchain. It also offers the highest level of security and privacy thanks to Lux Bridge. Via Lux Network. Lux is uniquely positioned to launch a multitude of highly scalable, highly profitable and risk-weighted industries in large, rapidly growing markets. These verticals include secure transaction processing, wealth management, DeFi ecosystems, and tokenized investments in natural resources and emerging markets.
See Lux.Partners/about for additional information.
For more information, please contact:
Representative Director, Chairman and CEO
Madison Metal Co., Ltd.
+1 (416) 489-0092
Manager, Media & Analyst Relations
Primoris Group Co., Ltd.
+1 (416) 489-0092
Neither the CSE nor the Canadian Investment and Industry Regulatory Authority assumes responsibility for the adequacy or accuracy of this release.
This release contains “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited to, statements regarding the performance of the terms of the futures sale agreement described in this press release. Issuance of Madison stock. the anticipated timing and amount of future exploration and anticipated use of funds by the company;
In general, forward-looking statements are made through the use of forward-looking terms such as “plans,” “anticipate” or “not expected,” “anticipate,” “budget,” “schedule,” and “estimate.” can be identified. “anticipate”, “intend”, “continue”, “anticipate”, “unexpected” or “believe” or that a particular action, event or outcome “could” or “could” Any variation of the word or phrase or statement “will”, “will”, “may” or “will be taken”, “will occur” or “will be achieved”. Forward-looking statements are based on certain assumptions and other material facts and, if not true, our actual results, performance or achievements may not be expressed or implied by such statements. Future results, performance or achievements may differ materially. Such statements and information are based on a number of assumptions regarding our current and future business strategies and the environment in which we will operate in the future.
Certain important factors that could cause actual results, performance or achievements to differ materially from the forward-looking statements include, among others, delays in production. exchange rate fluctuations, global economic conditions, dilution, stock price volatility, competition, labor shortages and unexpected company costs; Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors, and actual results, levels of activity, performance or achievements of the Company may not be correct based on such forward-looking statements. They may differ materially from those expressed or implied by forward-looking statements. This includes, but is not limited to: the failure of us or our contractual partners to perform their respective obligations under the contract; Unexpected delays or shortages of production at our mineral projects in Namibia. The potential impact of the COVID 19 pandemic on company operations and the economy in general. Impact of recovery after the COVID 19 pandemic and its impact on precious metals. receipt of required approvals; general business, economic, competitive, political and social uncertainties; future metal prices; accidents, labor disputes, shortages; environmental risks; and other risks of mining.
We have attempted to identify important factors that could cause our actual results to differ materially from those contained in the forward-looking statements, but we do not believe that they could cause results to differ materially from those anticipated, estimated or intended. There may be other factors that There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those projected in such statements. You should not place undue reliance on forward-looking statements.
Further information regarding these and other risks can be found in our filings with the Canadian securities regulators available on our SEDAR profile page at www.sedar.com. We disclaim any obligation to update or revise these forward-looking statements, except as required by applicable law.
Madison Metals Signs Uranium Forward Sale Agreement, Creates First Uranium-Backed NFT with Lux Partners, Canadian Business Journal
Source link Madison Metals Signs Uranium Forward Sale Agreement, Creates First Uranium-Backed NFT with Lux Partners, Canadian Business Journal