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I-ON Digital Corp. (OTC: IONI),a pioneering force in institutional-level asset digitization andsecuritization solutions, proudly announced a significant milestone.Today, the Company has entered into a Contribution and ExchangeAgreement with Orebits Acquisition Group, LLC to acquire 910,000shares of common stock of Orebits Corp. (“Orebits”), representinga controlling interest in Orebits. The Company currently anticipatesthat the transaction, subject to closing conditions, will closeeffective with the end of the fourth quarter of 2023.
By virtue of its controlling stake inOrebits, I-ON will acquire acontrolling stake in Orebits’s patented gold-digitizationtechnologies. With the Contribution and Exchange Agreement, theCompany gains ownership of approximately 9,700 Orebits.AU gold-backeddigital securities, which will be seamlessly converted into ION.au: I-ON 's proprietary digitalasset class. The consummation of the Contribution and ExchangeAgreement will, by extension, put the Company in position to furtherleverage its recently completed secure hybrid blockchain platform and,further, advance the Company's vision and propel the future ofdigitized assets. The Company onboarded an initial block ofgold-backed digital assets in the second quarter of 2023. As enhancedby the Company’s hybrid blockchain platform and related workflowmanagement, the Company estimates the transaction to be valued atapproximately $18 million. The actual value of the transaction mayvary depending on market conditions and the results of a year-endaudit.
The Contribution andExchange Agreement further propels I-ON 's overall strategy torevolutionize the way physical gold, precious metal, and mineralclaims are converted into digital assets and asset-backed securitiesallowing claim holders to monetize and leverage their in-situ (inground) and unrefined reserves. I-ON 's innovativeasset-digitization platform, which utilizes next-generation hybridblockchain technologies together with state-of-the-art smart contractsand advanced workflow management AI, allows mineral and precious metalreserves to be digitized into secure asset-backed securities thatprovide reserve owners and peripheral investors with new financialchannels to maximize liquidity without requiring them to physicallyremove these assets from the ground, thus protecting the environmentand revolutionizing the mining industry as a whole.
"We believe that this acquisition is asignificant milestone for our company," said Ken Park, I-ON 's Chief MarketingOfficer and Director. "In addition to increasing our balancesheet, this transaction will finalize the acquisition of a controllinginterest in Orebits Corp., which was at the forefront of mineral assetdigitization over 5 years ago, along with its patented technologiesand assets, adding substantial value to the Company and ourshareholders, while moving us closer to our ultimate goal of becomingthe leading provider of asset digitization and securitization in thisemerging industry."
Managementexpects that the expanded portfolio of I-ON.au will expand the marketacceptance of the Company's asset-backed digital securities,representing the emergence of entirely new financial instrument classthat can be leveraged for financing, collateralization, and/or thehypothecated use within a wide range of ESG-friendly bond offerings.With ION.au, claim holders, investors, and the precious metalsindustry can take advantage of an entirely new range of financialopportunities from their in-situ and unrefined gold, precious metal,and mineral reserves.
Thetransaction represents a huge step forward in the Company'spursuit to become the leading provider of cutting-edge assetdigitization solutions and provide greater financial opportunities forboth claim holders and investors alike, through the digitization andsecuritization of gold, precious metals, and minerals reserves, andthe cultivation of other next-generation technology-drivenasset-backed financial instruments.
I-ON DigitalCorp (OTC: IONI) is a leading-edge provider of asset-digitizationand securitization solutions engineered to provide a secure, fast,transparent, and institutional-grade ecosystem that digitizesdocumentary evidence of ownership, in accordance with a rigorousonboarding and acceptance process, into secure, asset-backed digitalcertificates that bring liquidity and accepted value to a wide-arrayof asset classes.
I-ON develops, acquires, and deploys aportfolio of novel and patented next-generation technologies that havebeen integrated and engineered into a comprehensive ecosystem built ona zero-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 at https://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.
Contact Details
I-ONDigital Corp.
Ken Park
+1 866-440-2278
CompanyWebsite
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