July 6, 2018
Important: News and Updates
This is a quick update for our community members on MetaliCoin. We are making significant progress and would like to share our plan for next steps in building our value.
Step 1 – Listing on the TSXv
The Toronto Stock Exchange venture board is a dedicated stock market platform forearly stage companies. Listing on TSXv will provide the high level of credibility that comes with being a regulated, audited and transparent public company. It will also give us a platform for a public equity raise of an additional USD $5 million to be used for onboarding of miners and manufacturers, technology development, regulatory filings and the start of our broader marketing campaigns.
Step 2 – Regulatory licensing of the Crypto Metal Exchange
We will register our metal exchange in the US with FINRA as a so-called ATS (Alternative Trading System) and our METL coin as a fully registered security token with the SEC.
We want to make a distinction clear – most security token registrations to date took the exemption route which does not allow them to sell tokens to the general public. This is a Reg D or Reg A process which limits either the amounts that can be raised or the investor pool to accredited investors only with no secondary market for general public investors.
Metalicoin will be executing the full F1 filing for Public Offering which is the same process followed by IPOs. We will be filing a complete prospectus with fully audited disclosures. It’s an expensive and elaborate process but the result is a token that can be taken up by both institutional investors and individuals alike. It will make us stand out in the crowded financial marketplace of ICOs. This is, in fact an RCO – a Regulated Coin Offering. We are aiming to raise in excess of USD $100 million in the Metalicoin RCO providing both high liquidity and credibility for our Metal exchange.
Step 3 – Launch of world’s first P2P Crypto Metal Exchange
We plan to deploy a fully functional exchange by the time the token sale RCO is completed. This means that we will be ready to launch and start generating revenue as soon as the token sale closes. We have already engaged with strategic technology partners who will be able to provide key tools to help accelerate our timeline to launch.
Step 4 – On-boarding of miners and manufacturers
Our goal is to have mining and manufacturing projects available on day one of the exchange launch. We have already established connection with multiple miners and manufacturers to make sure we have them on board in time and are starting to roll out our on-boarding process.
We have appointed A-Labs Ventures, a highly experienced Israeli advisory investment bank, to help us manage both the TSXv and SEC processes. We have also engaged FrontierX, a leading global strategic advisory to assist with token listing and market support.
All the best,Jeremy and the MetaliCoin team