|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Cunningham Mining Ltd Announces the Launch of its Nugget Trap Token (NGTG$$) Offering on the Biconomy Exchange
Oct 25, 2024 at 09:20 pm
HOUSTON, Oct. 25, 2024 (GLOBE NEWSWIRE) - Houston Natural Resources Corp (OTC:HNRC) portfolio company Cunningham Mining Ltd announced today the launch
HOUSTON, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Cunningham Mining Ltd, a portfolio company of Houston Natural Resources Corp (OTC:HNRC), today announced the launch of its Nugget Trap Token (NGTG$$) offering on the Biconomy Exchange (www.biconomy.com).
The company also intends to list the token on a number of other exchanges. This innovative tokenization initiative aims to revolutionize the mining sector by providing a new financing model for mining operations.
Cunningham Mining Ltd (“CML”) has entered into a definitive arrangement agreement with American Creek Resources Ltd ("American Creek") pursuant to which CML has agreed to acquire all of the issued and outstanding common shares of American Creek at a price of USD $0.31 per Share in an arm's-length, all-cash transaction valued at approximately USD $150 million on a fully diluted basis. The transaction will be completed by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia).
GEM Digital Limited has provided CML an investment commitment for up to USD $336 million. This substantial financial backing is set to fuel CML’s ambitious expansion plans, including the proposed acquisition of American Creek Resources Ltd and future gold property acquisitions. The enhanced token subscription facility will be available to Cunningham Mining for a 36-month term following the listing of the Cunningham Mining Token on a Centralized Exchange. This arrangement provides Cunningham Mining with considerable flexibility, as the company retains control over the timing and maximum amount of drawdowns, without any minimum drawdown obligations.
HNRC owns 9% of Cunningham Mining Ltd and is expected to provide HNRC shareholders with a significant increase in its asset base and a liquidity event in the fourth quarter.
Real World Asset (RWA) tokens, such as the Nugget Trap Token, provide a groundbreaking opportunity for investors to gain ownership of tangible assets from the mining industry. By digitizing commodities like precious metals and minerals, these tokens offer a unique combination of stability and growth potential. With this potential in digital friendly economy, investors can capitalize on market fluctuations, offering both flexibility and potential RWA tokens as they gain popularity, and they are attracting a broader, more diversified audience.
Key Highlights:
Special Attachment: Spot Gold Price Feature
In conjunction with the Nugget Trap Token offering, Cunningham Mining Ltd is pleased to provide a special attachment related to the current spot gold price. This attachment will offer insights into the gold market trends and how they impact the value of the Nugget Trap Token. Token holders are required to hold for six months to activate the embedded offer.
Digital Asset: Nugget Trap Gold Placer Claim
The Nugget Trap Token is at the forefront of this paradigm shift, transforming how stakeholders engage with real-world assets. Backed by solid industry fundamentals, it represents an exciting innovation in the digitization of physical assets, making the mining industry more transparent, efficient, and accessible. As blockchain technology continues to revolutionize industries, RWA tokens are reshaping the investment landscape, offering a compelling blend of real-world asset ownership and cutting-edge financial innovation to monetize their in-ground assets effectively. This tokenization model not only provides liquidity but also offers tangible value to token holders.
About Cunningham Mining Ltd
Cunningham Mining (www.cunninghammining.com) has successfully completed the acquisition of the Placer Claims known as the "Nugget Trap Placer Mine" in the British Columbia Mineral Title registry, covering 573.7 acres, along with the accompanying permits and authorizations ("Property"). The Property is situated within the Skeena Mining Division of British Columbia, Canada, in the area known as BC's Golden Triangle. The company intends to digitize its claims through the issuance of Digital Asset Tokens.
About Houston Natural Resources Corp
Houston Natural Resources Corp. (OTC: HNRC) (www.hnrcholdings.com) stands as a versatile energy enterprise with stakes in both oil and gas. Notably, the company has successfully obtained full ownership, a 100% interest, in Cunningham Energy LLC, boasting appraised reserves totaling $352 million. Additionally, Houston Natural Resources Corp. holds minority investments in Rhino Energy Ltd, CE Energy Sponsors, LLC, and HNR Acquisition Corp. Demonstrating a commitment to growth, the company remains proactive in its pursuit of new opportunities within the energy and energy transitions sectors, all with the overarching goal of delivering enhanced value to its shareholders.
FORWARD-LOOKING STATEMENTS:
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties.
Contact:
Houston Natural Resources Corp
12 Greenway Plaza, Suite 1100
Houston, Texas 77046
Phone: (713
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Arbitrum (ARB), Polygon (MATIC), and MultiversX (EGLD): Is There Hope for a Comeback in 2025?
- Oct 26, 2024 at 12:20 am
- 2024 has been a challenging year for many cryptocurrencies, with some tokens experiencing major declines. Among the hardest hit are Arbitrum (ARB), Polygon (MATIC), and MultiversX (EGLD), each among the worst performing cryptocurrencies of 2024, shedding over 64% of their value year-to-date (YTD).
-
- BRICS Summit Winds Down With Calls for Independent Payment Systems Free From Western Influence
- Oct 26, 2024 at 12:20 am
- The annual BRICS Summit in Kazan is winding down. While the much-touted BRICS digital currency did not materialize, some members expressed grievances with the Western world and called for alternative payment systems between member states.
-
- The Rise of Spot Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs): A Transformative Era in Cryptocurrency Investment
- Oct 26, 2024 at 12:20 am
- The launch and approval of spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have significantly reshaped the landscape of cryptocurrency investment.
-
- Bitcoin Maximalist Max Keiser Renews Scathing Attack on Altcoins, Claims Ethereum, Solana, and XRP Destined to Lose All Value
- Oct 26, 2024 at 12:20 am
- Popular Bitcoin maximalist Max Keiser has once again launched a scathing attack on altcoins, claiming that major cryptocurrencies like Ethereum (ETH), Solana (SOL), and XRP are destined to lose all value in comparison to Bitcoin (BTC).