NEW YORK, Apr. 13, 2021
Dignity Gold Secures Gold Backing for New Digital Security Known as DIGau
–– Gold Backing is Secured by United States Domiciled Company —
Dignity Gold, LLC (“Dignity Gold”) is pleased to announce that it has secured a pledge of gold for the gold based digital token of its wholly-owned subsidiary, Dignity Corp. Dignity Gold has been engaged in negotiations with several potential gold backers and has examined each to find the best option for the Company and for all pending token holders. This process has included, among several others, SION Trading FZE’s purported Safe Keeping Receipt which it was contractually obligated to provide; this contract was canceled by Dignity Gold due to non-performance by SION.
The token, now to be known as “DIGau”, will be backed by a minimum of $6 billion in gold reserves pledged to Dignity Gold under deeds of trust and a pledge and security agreement. As of March 26, 2021 this was represented by 3,442,144 ounces of gold reserves. Under the minimum provision, if the price of gold increases, the dollar backing amount will rise concurrently; if the market price of gold decreases, additional ounces will be pledged to Dignity Corp. to back the token. The deeds of trust and pledge and security agreement are evidenced by recorded liens in Dignity Gold’s favor filed with the respective County Recorders.
The gold that has been pledged to Dignity Gold, a portion of which is being provided to Dignity Corp., is represented by reserves at several gold and precious metals mines in the United States. The gold is currently located in tailings and alluvial placer deposits, with extraction intended to begin this year. Dignity Gold holds a lien and security interest on mining claims located in Lincoln County, Nevada and Mohave County, Arizona (the “Mining Claims”). The Mining Claims include one property subject to a NI 43-101 report, dated April 12, 2018, which valued its mineral deposits at $93,562,549,200, $7,742,304,000 of which is gold. A supplemental report dated March 30, 2021 showed a 33% increase in the valuation of these minerals.
In conjunction with the deeds of trust and pledge and security agreement, Dignity Gold has also entered into a forward purchase agreement for extracted gold from these properties. A portion of the gold purchased will be held by Dignity Corp. to enhance the backing of the DIGau token.
Dignity Corp. intends to issue the DIGau token (previously anticipated to be called “DIGG”) as soon as possible after clearing various securities regulatory compliance processes in cooperation with its partner, Tritaurian Capital, Incorporated, member FINRA & SIPC.
Dignity Gold has been working for over a year to complete the regulatory compliance process including providing and confirming the appropriate backing for a gold backed digital token. This has been a multi-faceted process, including the negotiations with several possible sources for the gold backing before selecting what Dignity Gold believes to be the best option.
About Dignity Gold, LLC
Founded in 2019 by Stephen Braverman and Kent Swig, Dignity Gold is the parent company of Dignity Corp. which intends to issue the Dignity token using the ticker DIGau backed by gold deposits located in the United States.
About Tritaurian Capital, Incorporated
Tritaurian is a registered broker-dealer and member of FINRA and SIPC. Tritaurian’s FINRA record is available at on FINRA BrokerCheck. Tritaurian is the first non-ATS broker-dealer to be approved for a license to sell digital private placement securities using distributed ledger technology, otherwise known as blockchain technology. Digital securities are an emerging, yet rapidly evolving, implementation of distributed ledger technology with the potential to increase access for investors and decrease cost for issuers. Tritaurian believes that blockchain-based securities improve transparency, increase security and streamline regulatory compliance through the open and programmable nature of blockchain tokens.
Impact Partners, [email protected]
SOURCE Dignity Gold, LLC