KABN (Gibraltar) PLC to Launch ERC 1400 Equity Token Offering
Crowdfunding Offering supported by UK Based Tokenise and KABN Equity Token created using Polymath Token Studio
December 9, 2019 – Gibraltar – KABN (Gibraltar) PLC (“KABN” or the “Company”) is pleased to announce that it has created its KABN Equity Token using the Polymath Token Studio and will make its Equity Token available for sale through a public Equity Crowdfunding sale via UK based Tokenise, which is fully compliant with the UK FCA regulatory framework. The Company’s Token Offering information site can be found at www.kabntoken.com
Unlike a network or utility token, each KABN Equity Token will represent a KABN (Gibraltar) PLC Preference Share as equity or ownership in the Company.
After spending well over 2 years to develop, test and launch its active business platform, KABN believes that ownership of identity is a basic human right and that individuals should be the primary beneficiary of any use of that identity data. To that end, KABN has developed a continuous, Always On, verified identity solution for commercial clients and consumers that allows individuals to manage both their private and public data, restricting the sharing and use of that data while benefiting the user. KABN also has a platform that will help users maximize value of their data through qualified offers from 3rd parties, including KABN’s Financial Services program KABN KASH and its Pegasus Flyte digital currency linked VISA card program.
The KABN Equity Token is a new generation of Security Token Offerings created with the Polymath Token Studio, allowing qualified private and public investors to purchase KABN Preference Shares, or Equity in the Company, represented by tokens on the Ethereum Blockchain. The KABN token can be viewed by visiting:
KABN has designed its Equity Token Offering to be a true investment in the Company, allowing Preference Share and Token Holders to participate in the potential growth and long-term value appreciation of the Company. KABN Preference Share / Equity Token Holders will receive first priority of dividend distribution and in the event that KABN has a liquidity event, all KABN Equity Token holders will be included in the event, allowing KABN Equity Tokens holders to truly benefit in the Enterprise, or overall value of the Company.
KABN Systems North America Enters into LOI with Torino Power Solutions Inc.
Vancouver, British Columbia, November 26, 2019 – Torino Power Solutions Inc. (CSE: TPS) (the “Company” or “Torino”) is pleased to announce that the Company and KABN Systems North America Inc. (“KABN North America”) have entered into a non-binding letter of intent (“LOI”) dated November 25, 2019 pursuant to which the Company will acquire all of the issued and outstanding shares in the capital of KABN North America, which will constitute a fundamental change of the Company and that will result in a reverse takeover (the “RTO”) of Torino by KABN North America.
KABN North America is a Canadian FinTech company with assets of approximately $1.7 million that specializes in continuous online Identity Verification, Identity Management and Monetization and is currently in development to launch a digital banking and financial services platform. It is developing a financial services platform in North America that consists of:
KABN ID: a blockchain and biometrically based, patent-pending, EU General Data Protection Regulations (GDPR) compliant, “always on” ID validation and verification process at its core.
KABN Card: new types of financial and related services through a payment card-approved, digital currency-linked prepaid card and mobile banking wallet program for a variety of digital currencies and multi-currency fiat transactions.
KABN KASH: a robust loyalty and customer engagement platform. KABN North America is the exclusive licensee in Canada and the United States of America of the intellectual property (the “Licensed IP”) that is comprised in the KABN ID, KABN Card and KABN KASH programs. KABN North America’s key shareholders are KABN (Gibraltar) PLC and Crypto KABN Holdings Inc. of Vancouver, British Columbia, Canada, which are the licensors of the Licensed IP.