Vancouver, British Columbia--(Newsfile Corp. - January 27, 2025) - Minas Metals Ltd. (CSE: MINA) (the "Company") is pleased to announce that it has signed two agreements (the "Agreements") in order to acquire approximately US$2,000,000 of cryptocurrencies in exchange for common shares of the Company.
Under the terms of the Agreements, the Company will acquire an aggregate of 5,277.60 Solana (SOL), 335,568.10 Cardano (ADA) and 339,248.61 ai16z (AI16Z) tokens from two arm's length vendors in exchange for the issuance of an aggregate of 13,500,000 common shares. The Agreements are both dated January 23, 2025. The transactions contemplated by the Agreements are deemed to be a Change of Business (as defined in the policies of the Canadian Securities Exchange (the "CSE")) and the trading of the Company's common shares will remain halted until the CSE approves the proposed Change of Business. The issuance of common shares of the Company pursuant to the Agreements also remains subject to CSE approval.
The Company has entered into these Agreements as part of the Company's plans to rebrand itself as an investment issuer focused on the Solana ecosystem and the development of its infrastructure. This strategic move is set to bolster the Company's operations and enhance its portfolio in the dynamic cryptocurrency market. This initial cryptocurrency acquisition has been made into Solana (SOL) and other related cryptocurrencies. This investment aligns with the company's vision of leveraging the Solana ecosystem to provide comprehensive investment solutions to its clients. The Company aims to create a strong identity in the institutional digital asset landscape, in particular, the Solana ecosystem. In conjunction with this change of business, the Company intends to change its name to "Universal Digital Inc." and start trading under the symbol "LFG".
The Company intends to hold the acquired tokens for its treasury, capitalizing on Solana's anticipated growth while also generating yield through a process known as staking. Staking is a mechanism that supports the operations of the Solana blockchain network by delegating Solana tokens to validators. These validators utilize stake-weighted consensus votes to validate transactions, thereby maintaining the integrity and security of the network. By staking its Solana tokens, the Company will actively participate in the Solana network's Proof-of-Stake consensus mechanism, contributing to the decentralization and security of the blockchain while earning rewards for its involvement.
"We are excited about the acquisition and the opportunity to deepen our investment in Solana and other related cryptocurrencies," said Jon Bey, CEO. "With our new strategy, we benefit not only from direct exposure to any growth in the value of Solana but also a steady yield that enhances the long-term value of our holdings while securing the network. Management believes that Solana's high-performance capabilities and scalability make it as a cornerstone of the digital economy, and we are committed to being at the forefront of this technological advancement."
Jon Bey continued, "The Company sees a bright future for the broader cryptocurrency landscape, with management of the Company anticipating Solana emerging as a key player due to its innovative approach to decentralized applications and its rapidly growing ecosystem."
The Company aims to continue its investment in Solana and related technologies that support the blockchain and crypto ecosystem. By expanding its commitment to these advancements, the Company intends to capitalize on the long-term potential of blockchain innovations and the expanding role of decentralized finance.
About the Company
The Company is currently a junior mining exploration issuer listed on the CSE. The Company intends to pursue a change of business following which, and subject to the approval of the CSE, the Company will be an investment issuer with a focus in investments in high-growth sectors and digital assets.
For further information contact:
Jon Bey
President & Chief Executive Officer
Email: info@minasmetals.ca
www.minasmetals.ca
604-375-4488
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the completion of the transactions contemplated by the Agreements, the Company's plans to complete the change of business, regulatory approval of the Agreements and the change of business, the expected impacts of the Agreements and the change of business on the Company's business and operations, the Company's plans following the proposed change of business, the anticipated impacts on the Company's business and operations of Solana, its capabilities and its network and the anticipated growth in the digital asset and cryptocurrency sectors.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: the Company may be unable to complete the transactions contemplated by the Agreements; the Company may decide not to proceed with the change of business; the Company may not receive regulatory approval for the Agreements or the change of business; the Company may not receive the anticipated results on its business or operations following completion of the change of business; the Company's plans following the change of business may vary; the anticipated advantages of Solana, its capabilities and its network may not materialize, or impact the Company's business or operations, as anticipated, or at all; the anticipated growth in the digital asset and cryptocurrency sectors may not occur as anticipated, or at all; the volatility of the digital asset and cryptocurrency markets; the impact of governmental or regulatory orders or decisions on the digital asset and cryptocurrency sectors; and market volatility for the Company's securities.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the Company will be able to complete the transactions contemplated by the Agreements; the Company will proceed with the change of business; the Company will receive regulatory approval for the Agreements or the change of business; the change of business will benefit the Company's business and operations; the anticipated advantages of Solana, its capabilities and its network will positively impact the Company's business and operations; and the digital asset and cryptocurrency sectors will continue to see growth.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238289
SOURCE: Minas Metals Ltd.
