Madison Metals opens second channel for uranium token sales

Madison Metals Inc. is pleased to announce that the Company is in discussions with a development group about issuing a newly listed fungible token (FT) backed by Madison’s uranium resource. The fungible token aims to increase liquid transactions and contract tracing while opening a second channel of asset sales.

Additionally, FT token sales are anticipated to contribute significant cash to Madison’s treasury and will be reported to shareholders once material events are concluded. The added cash generated from a second channel of token sales and royalties from trading will be used by Madison to advance compliant resource/reserve figures, for engineering and economic studies, and for mining at its uranium properties in Namibia, Africa.

Advancement of Madison’s uranium assets is now expected to occur on a non-dilutive basis, representing an industry first. The Company currently has approximately 23.5 million shares outstanding, C$1,000,000 in its treasury and no debt.

“Despite challenging times during this period of economic change and unforeseen delays, we have progressed with our innovative strategy, partnering to monetize and expand our in-the-ground uranium resource,” says Duane Parnham, Executive Chairman and CEO of Madison.

The non-fungible tokens (NFT) sold under the non-exclusive strategic partnership with Lux Partners Ltd. (“Lux”) have been slow to list and there has been a delay in receiving outstanding payments owed by Lux to Madison, compromising the Lux agreement.