Gibraltar, Dec 10, 2019 - (ACN Newswire) - KABN (Gibraltar) PLC ("KABN" or the "Company") is pleased to announce that it has created its KABN Equity Token using the Polymath Token Studio and will make its Equity Token available for sale through a public Equity Crowdfunding sale via UK based Tokenise, which is fully compliant with the UK FCA regulatory framework. The Company's Token Offering information site can be found at www.kabntoken.com.
Unlike a network or utility token, each KABN Equity Token will represent a KABN (Gibraltar) PLC Preference Share as equity or ownership in the Company.
After spending well over 2 years to develop, test and launch its active business platform, KABN believes that ownership of identity is a basic human right and that individuals should be the primary beneficiary of any use of that identity data. To that end, KABN has developed a continuous, Always On, verified identity solution for commercial clients and consumers that allows individuals to manage both their private and public data, restricting the sharing and use of that data while benefiting the user. KABN also has a platform that will help users maximize value of their data through qualified offers from 3rd parties, including KABN's Financial Services program KABN KASH and its Pegasus Flyte digital currency linked VISA card program.
The KABN Equity Token is a new generation of Security Token Offerings created with the Polymath Token Studio, allowing qualified private and public investors to purchase KABN Preference Shares, or Equity in the Company, represented by tokens on the Ethereum Blockchain. The KABN token can be viewed by visiting:
KABN has designed its Equity Token Offering to be a true investment in the Company, allowing Preference Share and Token Holders to participate in the potential growth and long-term value appreciation of the Company. KABN Preference Share / Equity Token Holders will receive first priority of dividend distribution and in the event that KABN has a liquidity event, all KABN Equity Token holders will be included in the event, allowing KABN Equity Tokens holders to truly benefit in the Enterprise, or overall value of the Company.
Equity Token Offering
Under the terms of its agreement with Tokenise, KABN will be raising a maximum of 8 Million Euros through the sale of up to 39 Million KABN Preference Shares through the Company's Equity Crowdfunding Offering. Each KABN Equity Token will represent one (1) KABN Preference Share and the KABN Equity Token will be entitled to all the benefits of KABN Preference Share ownership. The Offering is expected to begin in early December 2019 and close no later than February 28, 2020. For further information, please refer to the Document Download section of KABN's Token site.
Additional Private Sale rounds will be available to qualified investor groups and registered capital firms at the sole discretion of the Company.
KABN has launched its Token site to provide potential investors with a comprehensive overview of KABN, its Equity Token Offering and all its supporting documentation. For further information, please visit www.kabntoken.com
All potential investors will be required to comply with qualification testing, KYC / AML review and to complete a subscription agreement as the KABN Preference Share Offering and KABN Equity Token is being offered through Tokenise in compliance with UK Equity Crowdfunding regulations and the FCA regulatory framework.
Participation in the KABN Equity Token Offering
For those interested in participating in the KABN Equity Token Offering, please join the KABN Whitelist at https://www.kabntoken.com/whitelist-fp/ KABN will potentially be offering early participants additional value offerings.
Listing on Exchanges and Digital Trading Platform
KABN is in discussions with a number of leading global Exchanges and Digital Trading Platforms to list the KABN Equity Token for trading on these Exchanges as a Security Token. The response to date has been very favourable and KABN expects to release additional information on its progress in the near future.
KABN has developed a proprietary, patent pending platform for its identity verification, validation and data management platform that uses biometrics and the Blockchain to manage identity in compliance with Europe's GDPR protocols and other leading jurisdictional privacy policies. KABN never puts Personally Identifiable Information (PII) on the Blockchain and limits the sharing of any confidential data with 3rd parties.
KABN Strategic Growth Program
KABN has also embarked on a path to analyze and where effective, enter value-based relationships in various geographic regions globally. One such proposed opportunity has been announced for KABN Systems North America Inc., whereby KABN will be a holder of shares in this strategically positioned company in Canada, which, subject to regulatory approval will be publicly trading in Canada, and that will represent the KABN product suite in Canada and the United States. KABN believes that these types of opportunities can enhance the value of the Company while potentially minimizing the capital requirements necessary to open up its jurisdictional applications. KABN as a Company will hold a minority position in the North American enterprise and will be entitled to licensing fees for its proprietary technology usage.
About KABN - www.kabn.com
KABN's mission is to create a world-class suite of products and services that support the decentralized market economy, globally enabling consumers to manage their digital identity and other data to create value-based relationships in the financial and loyalty services arena.
KABN believes that ownership of identity is a basic human right and individuals should be the primary beneficiary of any use of their identity.
At the heart of the KABN suite is KABN ID a global platform that verifies, manages and monetizes online identity. KABN ID offers consumers, 'One and Done', 'Always On' and verified, blockchain and biometrically based, validation and verification for identity. This patent-pending, GDPR compliant process facilitates efficient and frictionless customer acquisition and onboarding across single or multiple platforms.
As part of its integrated financial service platform offering, KABN has received approval to launch its digital currency linked card and banking wallet program in Europe and has announced its intention to also launch this program in North America. Both programs will launch via KABN's Pegasus Flyte branded card program together with KABN KASH, an innovative loyalty and engagement program for its customers.
KABN is continuing to engage with partners globally to expand the Pegasus Flyte and KABN KASH program, as well as other new and exciting programs for our clients and consumers.
For further information, please contact:
We seek Safe Harbor
Nothing in this Release shall be deemed to constitute a prospectus of any sort or a solicitation for investment, nor does it in any way pertain to an offering or a solicitation of an offer to buy any securities in any jurisdiction. This Release is not composed in accordance with, and is not subject to, laws or regulations of any jurisdiction which prohibits or in any manner restricts transactions in respect of, or with use of, digital tokens.
The information set forth in this Release may not be exhaustive and does not imply any elements of a contractual relationship. The content of this Release is not binding on the Company and the Company reserves the right to change, modify, add, or remove portions of this Release for any reason at any time before, during and after the sale of tokens by updating an amended Release. This Release does not constitute an investment, legal, tax, regulatory, financial, accounting or other advice, and this Release is not intended to provide the sole basis for any evaluation of a transaction on acquiring of the tokens and is expressly not incorporated by reference into any securities offering or similar Releases. Prior to acquiring the tokens, a prospective purchaser should consult with his/her own legal, investment, tax, accounting, and other advisors to determine the potential benefits, burdens, and other consequences of such transaction. The Company is under no obligation to update the Release or modify the Release for any inconsistencies or for material changes to the information.
The token itself is not intended, unless otherwise designated by a regulatory authority, to be a digital currency, security, commodity, or any other kind of financial instrument and has not been registered under the Securities Act of 1933, as amended, the securities laws of any State of the United States of America or the securities laws of any other country, including the securities laws of any jurisdiction in which a potential token holder is a resident. The tokens are not being offered or distributed to, as well as cannot be resold or otherwise alienated by their holders to, citizens of, natural and legal persons, having their habitual residence, location or their seat of incorporation in the country or territory where transactions with tokens are prohibited or in any manner restricted by applicable laws or regulations. If such restricted person purchases the tokens, such restricted person has done so on an unlawful, unauthorized and fraudulent basis and in this regard, shall bear negative consequences.
The Company neither offers or distributes the tokens nor carries on a business (activity) in any regulated activity in the United States, or in other countries and territories where transactions in respect of, or with use of, tokens fall under the restrictive regulations or require from the Company to be registered or licensed with any applicable governmental authorities. Each purchaser of the tokens is reminded that this Release has been presented to him/her on the basis that he/she is a person into whose attention the Release may be lawfully presented in accordance with the laws of the purchaser's jurisdiction. It is the responsibility of each potential purchaser of the tokens to determine if the purchaser can legally purchase the tokens in the purchaser's jurisdiction and whether the purchaser can then resell the tokens to another purchaser in any given jurisdiction.
Certain statements, estimates and financial information contained in this Release constitute forward-looking statements or information. Such forward-looking statements or information involve known and unknown risks and uncertainties which may cause actual events or results to differ materially from the estimates or the results implied or expressed in such forward-looking statements or information. The English language Release is the primary official source of information about the project. The information contained in English language Release may from time to time be translated into other languages. In the course of such translation some of the information contained in the English language Release may be lost, corrupted or misrepresented. The accuracy of such alternative communications cannot be guaranteed. In the event of any conflicts or inconsistencies between such translations and the official English language Release, the provisions of the English language original Release shall prevail.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50582
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