Kabuni signs MOU with Canadian Securities Exchange for world’s first Security Token Offering
Kabuni signs MOU with Canadian Securities
Exchange for world’s first Security Token Offering
Feb. 13, 2018 (Vancouver) — Kabuni, an innovator in blockchain and 3-D printing on an industrial scale, is pleased to announce it has signed a Memorandum of Understanding (MOU) with the Canadian Securities Exchange (CSE) for the company to issue the world’s first Security Token Offering (STO).
Kabuni intends to file a prospectus with the British Columbia Securities Commission (BCSC) for approval to sell tokens to investors through an STO. Subject to meeting the requirements of the BCSC and CSE, the tokens would be traded on the CSE’s existing equity trading platform. This would mark the first time a tokenized security has been listed for trade on a recognized securities exchange.
Kabuni brings the power of blockchain technology and 3D printing to an industrial scale, known as additive manufacturing, for secure production of 3D assets. With questions of IP protection and secure payment solved through block-chain encryption, customers on the Kabuni platform are able to completely re-think the design, manufacturing and distribution process.
“Security Token Offerings are crucial to building trust and integrity within the financial marketplace. As an innovative company operating in the blockchain space that places trust and security at a premium, we’re excited to be the first STO in the world,” says Neil Patel, Kabuni Founder and CEO.
Kabuni is currently building a 36,000-sq.-ft. facility in Richmond, B.C. to house a wide range of blockchain-enabled industrial grade printers, technologies and materials. The Kabuni Additive Manufacturing Facility will also be home to the company’s 3D research department, as well as its AI and
blockchain development labs.
Kabuni has also appointed a new executive chair and three new board directors. They include:
Jeff Booth, Executive Chairman: Jeff co-founded BuildDirect.com and led the company through various iterations to more than $120 million in revenue. He led the company through a transition from an e-commerce company to a platform company using first-party data to create AI and machine learning to build a more efficient networked supply chain for both buyers and sellers.
Tim Weber, Board Member: Tim is Global Head of Hewlett-Packard 3D Metals. His business is responsible for development and commercialization of additive manufacturing (3-D Printed) metals. The HP 3-D Metals solution will disrupt in speed and cost and provide functional parts to enable the digital manufacturing of metals.
John F. Hornick, Board Member: As a counselor and litigator with the Finnegan IP law firm, John has more than 30 years’ experience advising top companies on every aspect of protecting, commercializing and enforcing their IP. He is founder of Finnegan’s 3D printing practice and author of the award-winning book, 3D Printing Will Rock the World.
Shannon Susko, Board of Director: Shannon has 18 years of experience leading financial technology services companies in North America. Her technical expertise is coupled with extensive sales, marketing and operations experience. Shannon has served on for-profit and not-for-profit boards at a regional, national and international level.
About the STO
The CSE is introducing an innovative securities clearing and settlement platform that harnesses the unique features of blockchain technology. The platform will enable companies like Kabuni to issue conventional equity and debt through tokenized securities, which would be offered to investors through STO. Unlike blockchain-based cryptocurrencies, the STOs will be subject to full regulation by applicable securities commissions. For more information, please read CSE’s Feb. 13, 2018 release or visit their online info page.
Kabuni is a blockchain-enabled platform for additive manufacturing on an industrial scale that protects, prints, and pays. Our tamper-proof public record will follow the path of any 3D printed product; from idea through to print, payment and beyond. For more information: www.kabuni.com