MetalStream CEO, David Vincent, and Gassendi CEO, Alexander Croft
MetalStream Ltd is pleased to announce its acquisition of Gassendi Trading DMCC, providing MealStream with an end-to-end gold supply-chain solution in Dubai.
— David Vincent, MetalStream CEO
KUALA LUMPUR, MALAYSIA, July 22, 2022 /EINPresswire.com/ — MetalStream Ltd (LL16561,“MetalStream”) is pleased to announce the completion of the acquisition of Gassendi Trading DMCC (“Gassendi”).
The completion of this acquisition adds significant value to Metalstream’s business. It provides MealStream with an end-to-end gold supply-chain solution from the receipt of unrefined gold at any port of entry into Dubai to the final refining of the gold by licensed and regulated refinery in Dubai.
David Vincent, the CEO of MetalStream stated, “We are delighted to have completed the acquisition of Gassendi. Gassendi has a demonstrated track record in providing secure logistics solutions for the clearance, transport and refining of unrefined precious metals into Dubai. It is a well-run company with strong and experienced leadership”.
Alexander Croft, CEO of Gassendi commented, “The acquisition by MetalStream is an extremely important milestone in Gassendi’s development and is designed to expand the operations of the business, through precious metals offtake agreements out of Africa, and other jurisdictions.”
The MetalStream Model
MetalStream is transforming financing for gold miners through its innovative use of metal stream contracts and the tokenization of gold to be delivered under these contracts, by its security tokens issued on the Ethereum ecosystem. Security tokens represent the rights to assets, and offer an immutable and auditable record of ownership via the blockchain.
Liquidity is intrinsic to the MetalStream model as security tokens are more easily stored and traded than physical gold. MetalStream tokens can be traded either directly or via a digital security exchange in the future. The tokens are fully compliant with all relevant securities laws and regulations.
MetalStream Ltd (LL16561) is a company incorporated in the Labuan International Business and Financial Centre, Malaysia, which is an independent offshore financial jurisdiction regulated by the Labuan Financial Services Authority under the purview of the Ministry of Finance, Malaysia. MetalStream has assembled a team of industry leaders in mining, technology and capital markets to bring the benefits of tokenization to the mining industry. Its core business is the issuance of security tokens fully backed by and redeemable for precious metals.
Further information about MetalStream can be found on MetalStream’s website at www.metalstream.io. Enquiries should be directed to email@example.com. The Labuan Financial Services Authority accepts no responsibility for the adequacy or accuracy of this release.
Gassendi Trading DMCC (“Gassendi”) is a licensed and regulated precious metals company specializing in the transport and refining of precious metals based in Dubai. Gassendi services include the sale of precious metals, vaulting, refining, customs clearance and logistics. Further information about Gassendi can be found on Gassendi’s website at www.gassendi.ae.
This document contains forecasts, projections, goals, plans, and other forward-looking statements regarding MetalStream’s earnings and other data. Such forward-looking statements are based on MetalStream management’s assumptions, estimates, outlook, and other judgments made in light of information available at the time of preparation of such statements and involve both known and unknown risks and uncertainties.
Accordingly, plans, goals, and other statements may not be realized as described, and actual financial results, success/failure or progress of development, and other projections may differ materially from those presented herein.
Even when subsequent changes in conditions or other circumstances make it preferable to update or revise forecasts, plans, or other forward-looking statements, MetalStream disclaims any obligation to update or revise this document.
Unless otherwise specified, all financial data in this document is defined in USD.
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