Scottsdale, Arizona--(Newsfile Corp. - August 3, 2021) - Passive Token (ETH:ERC20 $PASV) announced today that it intends to offer, subject to market conditions and other factors, $25 Trillion aggregate of tokens due post $PASV Token launch 2021 (the "tokens") in a private offering (the "offering") only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In connection with the offering, $PASV Token expects to grant the initial purchasers an option to have first right of refusal to partner on future staked liquidity pool projects as they enter into their second phase after the token launch.
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The final terms of the tokens, including the initial conversion rate, interest rate and certain other terms, will be determined at the time of pricing. Prior to October 1, 2022 the tokens will be convertible only upon satisfaction of certain conditions and during certain periods. On or after October 1, 2022 the tokens will be convertible at any time thereafter.
Conditions prior to October 1, 2022 for conversion shall be $PASV price shall be a minimum of 100 times the original value at launch price.
$PASV expects to use the offering of tokens to stabilize and bring validity to the token ecosystem. The purchase will encompass 2.5% of the circulating supply which at the time of purchase the purchaser will be the largest $PASV Token holder.
$PASV community evaluates potential acquisitions and strategic transactions of businesses, technologies or assets. However, $PASV has not designated any specific uses outside of real estate and has no current agreements with respect to any material acquisition or strategic transaction. These intentions are subject to change.
This token offering will be offered and sold only to purchaser, reasonably believed to be a qualified institutional buyer pursuant to Rule 144A under the Securities Act. The tokens, if any, are not being registered under the Securities Act, or the securities laws of any other jurisdiction.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the tokens described herein.
About Passive Token
Passive Token Ecosystem ($PASV) is an RFI/Governance community driven ecosystem. This is the first fully compliant, fractional, tokenized ownership of businesses, technologies or assets powered by blockchain. As a community we will vote, authorize, and fund each and every opportunity together with the purpose of establishing passive monthly income for Passive Token holders. $PASV Token is transforming fractional ownership as we know it.
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements relating to: whether $PASV will offer and issue the tokens and the terms of the tokens. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as "guidance," "expect," "anticipate," "should," "believe," "hope," "target," "project," "plan," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond $PASV's control. $PASV actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, could cause results to differ materially from those expressed or implied by such forward-looking statements: (i) changes as a result of market conditions or for other reasons, and (ii) the impact of general economic, public health, industry or political conditions in the United States or internationally. All information provided in this press release is as of the date hereof, and Slack undertakes no duty to update or revise this information unless required by law.
Passive Token Ecosystem, $PASV
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91924