Arizona Silver Announces Founding Membership in Ethereum Blockchain Strategic Alliance and Resignation of Director
Vancouver, British Columbia--(Newsfile Corp. - February 22, 2018) - Arizona Silver Exploration Inc. (TSXV: AZS) (OTCQB: AZASF) (the "Company" or "Arizona Silver") is pleased to announce its founding membership in the formation of an Ethereum Blockchain Strategic Alliance for Gold and Silver asset backed crypto-tokens (the "Alliance"). Further details are provided below:
Founding Members of the Alliance
The founding members of the Gold and Silver Ethereum Strategic Alliance are as follows:
- Canamex Gold Corp
- Guyana Goldstrike Inc
- Cabral Gold Ltd
- Arizona Silver Exploration Inc
- Altamira Gold Corp
Purpose of the Alliance
The members of the Alliance seek to collaborate for the purposes of future offerings of crypto-tokens and potential future initial token ("ITO") offerings. The offerings may be backed by gold and/or silver forward delivery, using gold and/or silver royalty streaming and other asset backed models, for the purposes of developing future financing models for funding future exploration, feasibility studies, mine development and/or mine expansion, by its member companies. Discussions are also underway with additional parties, who are looking to join the Alliance as members, and updates will be provided as the Alliance membership grows.
The basis of the Alliance is to also increase the trust associated with any future issuance of Ethereum Blockchain Smart Contract Crypto-Tokens for Gold and Silver, as an alternative means of raising capital, potentially without equity dilution. As previously advised, the Company has secured exclusive rights to 6 (Six) Ethereum Crypto-Token domain names, ticker codes, and associated smart contracts, for Gold and Silver commodity backed crypto-tokens. These may be used by the Alliance members, and progressively issued in any future ITO, using the models and associated intellectual property, developed by the Company.
Comments by Greg Hahn, CEO and President of Arizona Silver Exploration Inc
"I believe the ability to sell asset-backed tokens will open up new funding opportunities for companies with significant resources in the ground, and allow them to advance those projects to development and production while minimizing dilution to shareholders".
Comments by David Vincent, CEO of Canamex Gold Corp
"The Alliance seeks to utilize innovative gold and/or silver royalty stream funding models, for gold and/or silver asset backed crypto-tokens, trading and clearing on the Ethereum blockchain, for the purposes of funding gold and silver exploration and mine development, for the Alliance members. Interest in the blockchain technology, for secondary market trading and clearing is growing. For example, the Canadian Securities Exchange (CSE) has recently unveiled plans to develop Canada's first platform for clearing and settling securities using blockchain technology".
Comments by Peter Berdusco, CEO and President of Guyana Goldstrike Inc
"Guyana Goldstrike is extremely pleased to be a part of the Ethereum Alliance. It potentially provides the company with a new method of funding via an exciting and rapidly emerging crypto-token market. Given the fact that our Marudi Gold Project has an established mining license and recently announced mineral resource estimate, the timing couldn't be more ideal. The Alliance gives us the opportunity to further advance the project in a manner that may minimize shareholder dilution and maximize exposure to new investors in this growing marketplace."
Comments by Michael Bennett, CEO and President Altamira Gold Corp
"Altamira is extremely happy to be a founding member of this alliance, a brilliant initiative which lends well to the future financing for the most advanced of our projects, the Cajueiro Project. Financing of this nature with a crypto-token offering backed by gold, will facilitate acceleration of start-up on potential future mining operations and strengthen junior resource companies by reducing dilution."
Comments by Alan Carter, CEO of Cabral Gold Inc
"We are excited to be part of this initiative which offers the potential for a new and exciting means of funding junior resource companies such as ours. This innovative approach has the potential of mitigating the effect of dilution for early stage start up resource companies, and provides investors with a unique crypto-token offering backed by gold and/or silver".
Resignation of Director
Additionally, the Company announces the resignation of Ronald Shorr as a director of the Company effective immediately. The Company wishes to thank Mr. Shorr for his service as a member of the Company's board of directors and wishes him the best in his future endeavors.
On behalf of the Board of Directors:
ARIZONA SILVER EXPLORATION INC.
Greg Hahn, President and CEO
Contact: Mike Stark, Chairman and Director
Phone: (604) 833-4278
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.