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I-ON Digital Corp. (OTC: IONI) (“I-ONDigital” or the “Company”) announced the completion of itspreviously announced Contribution and Exchange Agreement with OrebitsAcquisition Group, LLC ("OAG"), by which I-ON Digital hasacquired a controlling interest in Orebits Corp. (“Orebits”),along with Orebits' gold digitization patent portfolio,trademarks, brand marks, and core intellectual property. As part ofthis transaction, I-ON Digital will assume control over the Orebitsdigital platform and 9,700 Orebits.au gold-backed digital assets inexchange for Series C Preferred Shares in I-ON Digital. The Companyestimates that the transaction will add approximately $18.2 million inshareholder equity to I-ON's balance sheet.
I-ON Digital is at the forefront ofinstitutional-level asset digitization, tokenization, andsecuritization. The Company’s focus is on tangible mineral assetslike proven gold and other precious metals reserves. The Companyrecently added a SaaS platform that will allow banks, broker-dealersand other financial intermediaries to onboard an institutional-levelplatform further facilitating receipt, management, and reporting inthe arena of digital assets. The Company is dedicated to offeringinnovative solutions that bring tangible value to the banking,financial technology and mineral asset industries.
Employing proprietary means, the Companywill immediately convert the 9,700 Orebits.au into I-ON's owngold-backed digital securities, referred to commercially as ION.au. Byleveraging its internally developed and acquired patent &intellectual property portfolio, the Company aims to enhance theunderlying value of these digital securities. Having validatedinternal applications for institutional-level asset digitization andtreatment, the Company looks to renew its focus on the acquisition ofUS-based gold and other mineral asset claims. With the addition of anestimated $18.2 million in shareholder equity, the Company believesthat it will be able to offer a broader variety of digitalasset–based financial instruments to an expanding list of productand service offerings.
"We are extremely excited to announcethe completion of this transaction and can't wait to deployincreased shareholder equity to further expand and enhance our assetdigitization offerings in the marketplace," shared Ken Park,Director and Chief Marketing Officer of I-ON Digital Corp. "Thistransaction builds on the technological progress we've made thisyear and will greatly enhance our go-to-market strategies whileexpanding our product and service offerings along theway."
About I-ON Digital Corp (OTC: IONI)
I-ONis a leading-edge provider of asset-digitization and securitizationsolutions engineered to provide a secure, fast, transparent, andinstitutional-grade ecosystem that digitizes documentary evidence ofownership, in accordance with a rigorous onboarding and acceptanceprocess, into secure, asset-backed digital certificates that bringliquidity and accepted value to a wide-array of assetclasses.
I-ON develops, acquires, and deploys a portfolio ofnovel and patented next-generation technologies that have beenintegrated and engineered into a comprehensive ecosystem built on azero-trust, hybrid blockchain architecture that utilizesstate-of-the-art smart contracts and sophisticated workflow managementAI technologies to digitize ownership records of recoverable gold,precious metal, and mineral reserves into digital certificates thatfacilitate wealth transfer through new asset-backed financialinstruments and asset classes that provide reserve owners andinvestors a new channel to maximize portfolio liquidity.
Byoffering services associated with asset digitization andsecuritization, and by licensing the Company's expandingintellectual property portfolio, I-ON is able to generate revenuethrough transaction fees while actively growing innovative platformsbeneficial for next-generation transactional models. Additionalinformation is available athttps://iondigitalcorp.com/.
Forward-LookingStatements
This news release contains forward-lookingstatements involving risks and uncertainties, which may cause resultsto differ materially from the statements made. When used in thisdocument, the words "may," "would," "could,""will," "intend," "look to," plan,""anticipate," "believe," "estimate,""expect," "seek," "potential,""outlook," and similar expressions are intended to identifyforward-looking statements. Such statements, including, but notlimited to, I-ON's current views with respect to future events andits financial forecasts, are subject to such risks and uncertainties.Many factors could cause actual results to differ materially from thestatements made, including those risks described from time to time infilings made by I-ON with the Securities and Exchange Commission. Inaddition, there is uncertainty about the further spread of theCOVID-19 virus or new variants thereof or the occurrence of anotherwave of cases and the impact it may have on the Company'soperations, the demand for the Company's products, global supplychains, and economic activity in general. These and other risks anduncertainties are detailed in the Company's filings with theSecurities and Exchange Commission. Should one or more of these risksor uncertainties materialize, or should assumptions underlying theforward-looking statements prove incorrect, actual results may varymaterially from those described herein as intended, planned,anticipated, or expected. Statements in this news release regardingpast trends or activities should not be taken as a representation thatsuch trends or activities will continue. I-ON does not intend orassume any obligation to update these forward-looking statements otherthan as required by law.
ContactDetails
Oktane Media
Ken Park
+1866-440-2278
CompanyWebsite
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