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Canamex Gold set to close its GoldUSA token offering later this month

GOLDUSA tokens will be issued, and subject to a 4-month and 1-day escrow period, the firm said.

Pictured is a GoldUSA token

Canamex Gold Corp (CSE:CSQ) updated on its security token offering (STO), saying it will close on  September 28 this year, after which no further subscriptions will be taken.

GOLDUSA tokens will be issued, and subject to a 4-month and 1-day escrow period, the firm said.

GOLDUSA tokens issued, will be delivered to an escrow wallet under the control of ChainDelivery Royalties Corp, a 100% owned subsidiary of Canamex.

As reported in May this year, the firm launched a non-brokered private placement to accredited investors, of GOLDUSA Ethereum ERC20 crypto tokens via what's called a security token offering.

Also in today's release, Canamex said that during October this year, the firm plans to launch a non-brokered private placement of SILVERUSA tokens to accredited investors, via an initial STO.

It is expected that this offering will provide additional financing to complete mine permitting and development work, to a shovel-ready stage (production decision and construction financing), at the Bruner Gold and silver project in Nevada.

Canamex also revealed it will remunerate its directors and officers and contractors, from time to time, in the form of GOLDUSA tokens as payment for services rendered.

The deemed pricing for such remuneration is USD$4 per GOLDUSA Token, or C$5 per GOLDUSA, at the election of the payee, and such price will be reviewed by the company, from time to time, as deemed necessary.

The board of the firm has also approved the remuneration of its non-executive directors at the rate 400 GOLDUSA Tokens per calendar month, commencing from September this year.

Greg Hahn, the president, COO and a director, has elected to accept a total of 5,462 GOLDUSA Tokens, in lieu of cash settlement, pursuant to a payment due, in the amount of US$16,386.56.

Quick facts: Canamex Resources Corp

Price: 0.04 CAD

Market: CSE
Market Cap: $2.46 m

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on 29/10/18

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