TORONTO, OCTOBER 27, 2022 (GLOBE NEWSWIRE) — Madison Metal Co., Ltd. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) and Lux Partners Limited (“Lux”) are pleased to announce the first capital inflow from the first tranche mint launch. think. Lux Uranium Tokennet revenues to Madison $5.12 million.
The first turnover is expected to reach all investors as non-fungible tokens (NFTs) continue to offer a superior value proposition, price discovery and transparency to uranium exposures at a fraction of the current U. Exceeded Lux expectations.3〇8 Spot price quoted at USD 52.60 using the October 24, 2022 price published by UxC When trade techAdditional guidance will be provided over the next two weeks as subsequent sales orders, market listings and partnerships are published.
A five-year exclusive supply agreement initially provided a £7.65 million U3〇8 Madison contributed to the Lux partnership from Madison’s Uranium Project in Namibia, backing the first-ever uranium-backed NFT. Issued exclusively on their network, Lux NFTs will bring liquidity and universal access to the uranium market, ushering in a new era of both tokenization and distribution of physical assets.
In connection with the forward purchase agreement, Madison issued 3 million shares of common stock to independent consultant advisors to facilitate the successful completion of the transaction and initial capital transfer to the Company.
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.
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.
For additional information, visit Lux Partners
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 estimated timing and amount of future exploration and the Company’s anticipated use of funds received from the placement.
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”, “could” 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, currency fluctuations, global economic conditions, dilution, stock price volatility, competition, labor market Incompetence, and unexpected expenses. our company’s. 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. Including but not limited to: The 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.