Canamex Resources Corp

Canamex Gold Corp set for listing on Canadian Securities Exchange on Friday

Canamex says it's seeking to "utilize innovative royalty stream funding models for precious-metal-asset-backed cryptotokens"

Pictured is Canamex's Ethereum-based token
Pictured is Canamex's Ethereum-based token

Canamex Gold Corp (CVE:CSQ) says its shares will begin trading on the Canadian Securities Exchange (CSE) on or around Friday (April 27) this year.

At that time the stock will cease trading on the venture exchange.

"The company seeks to utilize innovative royalty stream funding models for precious-metal-asset-backed cryptotokens, trading and clearing on the Ethereum blockchain, for the purposes of funding gold and silver exploration and mine development," said David Vincent, the firm's chief executive.

"To effectively develop and then to deploy these new technologies and transformative market financing models, the company should be listed on an exchange that welcomes and encourages entrepreneurship and innovation.

"The CSE meets these criteria, which is clearly demonstrated by its recent initiative, to develop Canada's first platform for clearing and settling securities using blockchain technology."

Vincent also noted that the CSE had a very competitive and attractive "cost structure" compared to the venture exchange.

"Shareholders of the company should see considerable benefits resulting from this decision, both in the near term and in the longer term, he added.

Canamex is said to be is moving towards become the first company to issue a crypto-token backed by gold, and from its own project in Nevada no less. 

The team is also looking at working with other companies in or near production to help them finance with crypto-token gold and silver royalty streams, instead of traditional debt and/or equity financing.

Shares were unchanged at C$0.12.

Quick facts: Canamex Resources Corp

Price: $0.04

Market: CSE
Market Cap: $2.46 m

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