Metaverse Capital Corp (CSE:FORK)(OTCMKTS:GBCHF) announced Thursday it will administer a crowdsale for a Bitcoin miner on the Hyperion Exchange.
Hyperion Crypto Exchange Inc tapped Metaverse to oversee the equity offering for Ocean Falls Blockchain of Ocean Falls, British Columbia. The equity offering will be made in the form of a regulated security token, according to a statement.
Under its agreement with Hyperion, Metaverse also will perform compliance checks for the offering as a security token, preparation of media materials, marketing and promotion, as well as interacting with participants to address questions and concerns.
Metaverse said Ocean Falls leverages an inexpensive supply of electricity, and is engaged in the development of advanced mining technologies including heat capture and transfer to maximize efficiency and minimize environmental impact. Ocean Falls' operations are slated to expand both in Ocean Falls and at other locations along the central coast of British Columbia.
The Toronto-based Hyperion Exchange is an alternative trading system that acts as a blockchain-based trading platform for security tokens, which are also called non-bearer tokenized securities. It’s registered with the US Securities and Exchange Commission.
“Traditional stock markets have become less and less appealing for equity offerings, between the fixed costs of listing, and the ongoing costs and hassle related to compliance,” said Metaverse CEO Shidan Gouran. “As a security token marketplace, the Hyperion Exchange overcomes much of this, giving companies and investors alike access to a more robust and dynamic range of securities without the drawbacks of traditional exchanges.”
In other company news, Metaverse also announced that it has sold its masternode stakes in the Dash and Loki blockchain networks at a profit. Despite the company’s decision to sell these stakes, it continues to operate its masternode pooling platform for clients as a key part of its operations.
Metaverse, based in Vancouver, British Columbia, changed its name from Global Blockchain Mining Corp last week.
Contact the author: email@example.com
Follow him on Twitter @PatrickMGraham