KWG won’t have a chrome-based crypto currency after all; the company proposed to create a blockchain-contract offering of a crypto currency, to be called the ‘Ferro’, backed by the Ring of Fire’s chromite discoveries.
However, as the cost and complexity of access to this capital markets innovation in that manner proved to be daunting, KWG decided not to proceed at this time with the creation of its originally contemplated crypto-currency but has instead recently focused on first creating and distributing a chrome delivery warrant, the terms and details of which are not yet determined.
KWG has received preliminary confirmation from the Canadian Securities Exchange that it should be able to list the proposed warrants for trading on the Canadian Securities Exchange. KWG is now considering the requirements for distribution of such a warrant issue, possibly as a return of capital dividend to its shareholders, in order to ensure compliance with applicable securities laws.
The company also continues to research the utility of the blockchain-contract provenance and safety attributes, for possible future use in the trading of such listed delivery warrants and options, as an analogue to the London Metal Exchange inventory tracking systems.