BRIX Resources launches #blockchain enabled platform for asset backed commodities
BRIX Gold Token to be first of a series of regulatory compliant offerings
Toronto, Ontario - April 4, 2018 (Newsfile Corp.) (Investorideas.com Newswire) BRIX Resources Ltd. ("BRIX" or the "Company") is pleased to announce that it has developed the first integrated blockchain enabled program for asset backed commodities, allowing qualified investors to engage in a new and innovative capital formation program for the gold sector.
The BRIX Gold Token will be the first offering by BRIX under this commodity tokenized security model and will be backed in part by physical gold with a redeemable feature representing the prorated portion of gold per token. BRIX expects to pay Token holders on a quarterly distribution in ETH coin an amount up to 30% of the net profits generated from BRIX investments as determined by the board of directors of the Company, in each case expected to commence in a quarter ending not earlier than December 31, 2018.
From the outset, BRIX Gold Tokens are expected to be backed in part by physical gold purchased using 50% of the gross proceeds and held in trust in a vault company in good standing with the London Bullion Market Association (LBMA) and insured to their market value. BRIX also expects to acquire certain streaming, royalty and joint venture rights in the anticipation that these interests will increase the Token Holders' physical gold reserves. The Company's long-term goal is to potentially increase the value of the physical gold reserves beyond the initial funding. This is a unique concept as the BRIX program is expected to allow for increasing reserves as the Company's business progresses.
BRIX intends to invest in early stage exploration projects through its Project Generator Model. BRIX will monetize these investments as the Company deems appropriate, with the proceeds being used for distribution payments to BRIX Gold Token holders and will be reinvested into new early stage opportunities to create further value and to support the Company's operations.
The Company's leadership team is made up of highly skilled industry, business, compliance and technology professionals whose mission is to grow business opportunities at the intersection of traditional and new technology sectors.
"The BRIX Gold Token program is a new and innovative way for investors to be part of the evolving technology landscape and the traditional gold market programs," said Michael Smith, CEO Brix Resources Ltd.
The Company plans to commence a Token offering to accredited investors in Canada and potentially other jurisdictions under existing securities exemptions. The Company may consider other compliant distribution methods in the future.
About BRIX Resources Ltd. - www.brixresources.com
BRIX Resources, Ltd. is a Canadian Company specializing in the development of tokenized commodities, using blockchain technologies and services to create value in mainstream market programs. BRIX is beginning with gold (Au) as its first token offering.
BRIX looks at traditional gold as part of the known and well-established economy as well as a major part of speculative and hedging investment strategies. BRIX combines these aspects with new and innovative business strategies that focus on blockchain technologies resulting in the creation of a potentially dynamic capital growth opportunity in the precious metal markets.
The BRIX Gold Token will be the first gold backed token issued in compliance with applicable securities regulations, offering its tokens to accredited investors in key geographic and regulatory markets through existing securities exemptions, regulatory and exchange approvals.
The knowledge of the team, in combination with leading global experts in the business of gold geology, production, markets and business strategy, is expected to provide a catalyst for innovation and an exciting new business opportunity.
For more information, please contact:
Mr. Michael Smith, CEO
BRIX Resources Ltd.
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including statements regarding the terms, timing and completion of the proposed private placement and the anticipated use of proceeds. Forward-looking information is not a guarantee of future performance or results, since it involves risks and uncertainties. There is no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in forward-looking statements. Some of the factors on which the forward-looking statements are premised include (but are not limited to) the satisfaction or waiver of the conditions precedent to the completion of the token offering and the lack of material changes to general economic, market and business conditions. Forward-looking information is subject to the risk that those factors will not materialize, and to other risks. Except as required by law, the Company does not assume and expressly renounces any obligation to update any forward-looking information, which is only applicable on the date on which it is given.
The proposed token offering described above has not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States.
This release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or for dissemination in the United States.
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