VANCOUVER, British Columbia, Jan. 26, 2018 (GLOBE NEWSWIRE) -- George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or “the Company”) (TSX.V:GCN) (OTC PINK:GCFFF) reports that Goldcliff is in the final stages of discussion with a blockchain development company for the development of the DirectRoyalty streaming and royalty platform. Discussions include utilizing DirectRoyalty to generate a gold based crypto currency. Consultation with the blockchain team has been underway for several months and the parties expect to conclude a development arrangement shortly. Shareholders and investors are cautioned that there is no assurance Goldcliff’s discussion’s will result in a business arrangement.
Goldcliff and the blockchain team are examining various methods of generating a gold based crypto currency including but not limited to an Initial Token Offering. The Company is not conducting an offering of any tokens at the moment, but if it decides to do so, it will determine and disclose the terms of such offering at the appropriate time. The Company has been advised that such an offering will be deemed to be a security for the purposes of the Securities Act (British Columbia) and therefore the distribution will require either a prospectus or an exemption from the prospectus requirement to issue the tokens and to effect trades. The Company may utilize the accredited investor exemption, the offering memorandum exemption or such other exemptions from the prospectus requirement that are detailed in National Instrument 45-106 (Prospectus Exemptions). If a token offering is completed, there may be trading of the tokens within the network. In such a case, the Company will need to file a prospectus to permit the secondary market trading of the token, or alternatively apply for an exemption from the prospectus requirement for secondary market trading. There are no assurances that such exemptions will be granted.
DirectRoyalty, 100% owned by Goldcliff, is an online crowdsourcing platform that will enable investors to purchase fractional interests in precious metals royalties, streams, and advance sale arrangements, directly from producers. Blockchain functionality and the use of Smart Contracts will facilitate the seamless tracking of precious metals from dore production at the mine site, or concentrate delivered to the refiner, through to monetization or direct delivery to either investing customers or third party custodial agents.
