Coronet Metals will use the DigiShares platform to conduct an STO (Security Token Offering) and provide digital tokens (CMM tokens) to investors. The STO will be based on an existing business that extracts precious and non-ferrous metals by recycling tens of millions of tons of tailings and slack left in abandoned mines and smelters in the southwestern United States. They are the first in the world to combine the primary industry of mining and blockchain technology into a feasible real business. To date Coronet Metals has issued 1 billion authorized shares, of which 80 million will be distributed. They are planning to raise from $100 to $150 million in financing from security tokens.
DigiShares CEO, Claus Skaaning stated, „Coronet is our first white-label partner within mining and we highly respect their deep expertise and knowledge in this space. Mining is an exciting field with many good investment opportunities that lends itself well to tokenization to enable smaller investors to participate and to increase the liquidity significantly. DigiShares and Coronet share values related to sustainable and environmental production”.
Coronet Metals CEO James Gim said: 'We have partnered with DigiShares for our STO since we view them as the leader in the space. After the STO completion, all accumulated operative funds will be used by the mining company for excavation operations and subsequent financing of the processing company’s plant equipment in a joint venture, which will acquire the proprietary Avimetal systems for operating within the processing plant facilities in the U.S.; Thanks to this technology we will use neither water nor chemicals, little power < 1KW, dry concentrate, and we will save on logistic costs which makes us extremely environmentally-friendly. At the end of the first year of mining we will provide the option to exchange tokens to banking gold certificates in selected locations of the world.'
About Coronet Metals US Inc.
Coronet Metals, incorporated in 2012 in Nevada has researched and analyzed the tailings and slags waste over the course of 5 years. They became successful thanks to world-famous metallurgists and geologists and a partnership with Avimetal that provides the technology.
About DigiShares A/S
DigiShares is one of the leading providers of white-label solutions for tokenization of real assets, including real estate and private equity. Our solutions enable asset owners and fund managers to digitize and automate processes, reduce administrative cost, reduce the ticket size to fractionalize and democratize, and finally to provide a huge increase in liquidity through the built-in marketplace that enables shareholders to trade their assets.