Arizona Silver enters ethereum blockchain alliance

Feb 23, 2018

2018-02-22 17:43 ET – News Release

Mr. Greg Hahn reports

ARIZONA SILVER ANNOUNCES FOUNDING MEMBERSHIP IN ETHEREUM BLOCKCHAIN STRATEGIC ALLIANCE AND RESIGNATION OF DIRECTOR

Arizona Silver Exploration Inc. has founding membership in the formation of an ethereum blockchain strategic alliance for gold-and-silver-asset-backed cryptotokens. Further details are provided herein.

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 cryptotokens and potential future initial token offerings (ITO). 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 financing future exploration, feasibility studies, mine development and/or mine expansion, by its member companies. Discussions are also under way with additional parties, which 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 cryptotokens 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 six ethereum cryptotoken domain names, ticker codes and associated smart contracts for gold-and-silver-commodity-backed cryptotokens. 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.

Greg Hahn, chief executive officer and president of Arizona Silver Exploration, commented, “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.”

David Vincent, chief executive officer of Canamex Gold, commented: “The alliance seeks to utilize innovative gold and/or silver royalty stream funding models, for gold-and/or-silver-asset backed cryptotokens, 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.”

Peter Berdusco, chief executive officer and president of Guyana Goldstrike, commented: “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 cryptotoken market. Given the fact that our Marudi gold project has an established mining licence 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.”

Michael Bennett, chief executive officer and president of Altamira Gold, commented: “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 cryptotoken offering backed by gold will facilitate acceleration of start-up on potential future mining operations and strengthen junior resource companies by reducing dilution.”

Alan Carter, chief executive officer of Cabral Gold, commented: “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 cryptotoken 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 endeavours.

http://arizonasilverexploration.com/news-releases/