LAS VEGAS, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Simex Group Inc. (formerly known as American Retail Group Inc.), is the holding company of Simex Inc., the developer and owner of the multifunctional blockchain platform “SIMEX”. Simex Group Inc. is proud to announce that Hong Kong-based mining company, Jade Resources Limited, has agreed to plan its next investment offering round, the Kazakhstan Jade Project: a new security token endeavor, utilizing the SIMEX platform.
Simex Inc. is the beneficial owner of a licensed digital assets exchange organized and existing under the laws of the Republic of Estonia. Simex Inc. specializes in a wide range of software solutions in the blockchain industry including development, maintenance, and support of its state-of-the-art multifunctional digital exchange platform and diverse software instrumentarium of tokenization and digitalization of securities and commodities. Simex Group Inc. intends to open access to blockchain investment vehicles to investors around the globe. Simex Group Inc. expects that by utilizing the SIMEX platform, it will open new horizons to issuers, investors, and broker-dealers and will make the process of investment easier for both investors and issuers.
The Kazakhstan Jade Project is developed for Jade Resources Limited, a leader in the mining and production of jadeite and one of the major suppliers of jade to China. Jade Resources Limited owns one of the largest single jadeite deposits in the world, in a jade mine in Kazakhstan. Jade Resources Limited is a vertically integrated company controlling the entire chain of jadeite operations: from mining and manufacturing to marketing. Access to Jade Resources Limited will allow investors from multiple countries* to access securities of Jade Resources Limited and participate in its projects.
Kevin Foo, the CEO and President of Jade Resources Limited, announced: “Use of new technologies is very common in the mining industry. Technology provided by SIMEX makes it easier for investors to enter prospective high-yielding mining projects such as Kazakhstan Jade. We can offer potential investors the opportunity to assess our project and to know that their investment is compliant with the pertinent securities laws and secured by the blockchain encrypted technology of SIMEX.”
Kevin Foo has had a forty-year career in all aspects of the mining industry, including R&D, operational, project management, and directorship in public companies. He has lived and worked in countries on five continents, including twenty years in Kazakhstan and Russia. Mr. Foo is best known for his revitalization and refinancing of the UK public mining company, Celtic Resources Holdings. He took this company with a market capitalization of USD $700,000 in November 1999, and later successfully sold it to a large Russian holding for USD $360 million in December 2007. Mr. Foo is also known as one of the few entrepreneurs who made a successful crossover to the oil and gas industry. He founded Victoria Oil and Gas Plc which became a successful gas utility company in Cameroon under his lead. He stepped down as Chairman of Victoria Oil and Gas Plc in early 2019 to focus on developing a major jade deposit in Kazakhstan.
* Although Simex Group Inc. is actively exploring the opportunity to allow the United States investors to register with the SIMEX platform, this option, is not available at the time of this announcement.
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of Simex Group Inc., statements relating to goals, plans and projections regarding Simex Group Inc.’s financial position and business strategy. The words or phrases “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think”, “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Simex Group Inc. cautions readers not to place undue reliance on such statements. Simex Group Inc. does not undertake, and Simex Group Inc. specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from Simex Group Inc.’s expectations and estimates.