Token Communities Limited Common Stock Trading Opens on OTC
BETHESDA, Maryland, September 26, 2018 /PRNewswire/ --
Alex Lightman, CEO, to be Panel Member of United Nations Sustainable Development Goals Event and Keynote Blockchain Events in Asia and Europe
Token Communities Ltd ("TCL") (OTC: TKCM), an advisor and incubator to Fintech and AI start-up and growth companies, and creator of a new class of cryptoassets based on battery metals and other commodities produced by physical mining, announced yesterday that the Company's US stock opened to trade on OTC via the Deposit Trust Company ("DTC.")
The first trade on OTC via the DTC, a subsidiary of The Depository Trust & Clearing Corporation, took place on 24th September 2018, and is an important step for the development of the Company. The DTC is a registered clearing agency with the US Securities and Exchange Commission, which can now therefore provide TKCM (OR the Company) with access to their digital settlement and clearance services.
To further enhance the liquidity and access to a significantly wider investor base the Company announced today it has instructed its legal team to also apply for registration with DWAC once eligible in the next week. DWAC is the acronym relating to Deposit/Withdrawal at Custodian which was created by the DTC. The DTC FAST system run by DTC permits brokers and custodial banks, DTC participants, to request the movement of shares to or from the issuer's transfer agent electronically.
Steven A. Knight, FCA, TEP, MIOD, Chairman of the Board of TCL, commented that "We are very pleased to have commenced trading on the OTC. We are now available to the process of investors and brokers trading and exchanging our stock in the United States, which will benefit the Company and our shareholders. We expect that now trading has commenced it will improve our overall share liquidity and the appeal of the Company's shares on the market, particularly as we engage with clients in the Fintech, AI and other associated sectors across the globe. In the past months we have become increasingly more active in the international promotion of the Company's business and have sent Directors to Asia and Europe many times, as well as domestically, to create and then develop a number of high value added commercial arrangements. We anticipate making further announcements shortly."
Alex Lightman, CEO of Token Communities, who has been a keynote speaker at two dozen Blockchain events, will be a panel speaker at the United Nations Sustainable Development Goals event in New York at the United Nations complex this Thursday 27th September. Lightman, who has authored the white papers for a new class of cryptoassets, which Token Communities considers cryptocommodities that have different characteristics from cryptocurrencies, commented "Token Communities has originated many discussions with potential investors who like some aspects of the Blockchain and cryptocurrencies, but who have concerns about other aspects, such as no collateral behind the coins or tokens. That's one thing in a bull market where growth is the focus, but given that the market is down over 80% or 90% since the peak, it's clear that a new design is necessary for a bear market. Token Communities has entered into agreements with publicly traded mining companies to bring new cryptocommodities to market, starting with the battery metals needed for electric vehicles, laptops, and mobile phones with longer battery life. CobaltCoin, LithiumCoin, and GraphiteCoin are the first to come to market. Token Communities was in Seoul, Republic of Korea, with the CEO of our partner mining company and presented the CobaltCoin to three of the largest consumers of cobalt in Korea. We had a very positive reception for both the concept of cryptocommodities, which we believe will solve serious problems for consumer electronics companies, and for the cobalt itself, which is one of the most important inputs to both the wireless broadband mobile Internet that will reach six billion people by 2020, and for electric vehicles. I will be presenting some of these insights at the UN panel on the impact of tokenization on the global economy, and in my upcoming keynotes in Tokyo and Barcelona in October."
About Token Communities Ltd.
Token Communities Ltd contains our wholly owned subsidiary Token Communities PLC, a boutique Gibraltar Financial Advisory firm which specializes in incubating as well as advising and managing qualified companies in the blockchain and distributed ledger technologies arena, including smart contracts, TGEs, DApps, and more. Advisement comprises the authoring of industry standard White Papers, technical aspects, design and implementation of market strategies, business appraisal and more. All potential clients must be fully vetted and AML/KYC approved.
Disclaimer:
Certain statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes, " "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on May 21st, 2018. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Token Communities Ltd. which are condoned by the Company must emanate from the Company itself and bear our name as its Source.
For further information, please contact us at Info@TokenCommunities.com
SOURCE Token Communities Ltd
