Canamex Gold Corp (CSE:CSQ, OTC:CNMXF), as revealed previously, is launching a placing to accredited investors GOLDUSA Ethereum ERC20 cypto tokens via a security token offering (STO).
The tokens are being offered at a significant 40% discount to the US$1,350 per ounce gold price, but limited to the first week of subscriptions.
Each token represents 1/200 of an ounce gold and the minimum subscription is for 2,000 GOLDUSA tokens, said David Vincent, the chief executive.
"This is the first time ever that a gold-asset-backed crypto security token has been offered by a North American Exchange listed public company," the group said on Tuesday.
"Our company has seen the significant scaling potential for this innovative financing technique because of its sheer simplicity for creating win-win situations for all the stakeholders and investors involved.
"This innovative crypto-token royalty streaming model provides far more value, transparency, better terms and conditions and better profit margins within a GOLDUSA ecosystem (GOLDUSA token holders, shareholders, other junior mining companies and investors), than can be offered by traditional existing models, relying on legacy ideas.”
Canamex is focused on fast-tracking toward development of the Bruner gold development project in the prolific gold jurisdiction of Nye County, Nevada.
Previously, the firm has said it expects this initial offering to provide the financing to complete mine permitting and development work, to a shovel-ready stage (production decision and construction financing), at the project.
The region is home to several producing and past-producing mines along the Walker Lane trend.