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Mansfield-Martin Exploration Mining Announces Payment Arrangement With Silverback Crypto-Currency
Jan. 04, 2018 08:40AM PST
Silver InvestingMansfield-Martin Exploration Mining, Inc. (OTC Pink:MCPI) announced today that it has expanded its preliminary arrangement with Qu. Mansfield-Martin previously agreed to provide up to 5 million oz. silver doré to Qu to support the Silverback ICO. Joint Venture owners in the Mine Run Program will now have the option of taking returns in Silverbacks, Qu’s current …
Mansfield-Martin Exploration Mining, Inc. (OTC Pink:MCPI) announced today that it has expanded its preliminary arrangement with Qu. Mansfield-Martin previously agreed to provide up to 5 million oz. silver doré to Qu to support the Silverback ICO. Joint Venture owners in the Mine Run Program will now have the option of taking returns in Silverbacks, Qu’s current ICO, as well as doré or US currency.
The Silverback is a cooperative decentralized crypto coin running on the Ethereum block chain. Qu will offer 5,000,000 coins, each backed by 1 oz. of .999 silver. Pricing for Silverbacks will be exclusively in Ether, and set at a sliding discount to spot silver pricing: 50% over the first 10 days; 25% over the second 10 days; 10 % over the third 10 days; and 5% over the fourth 10 days.
The ICO has a term of 60 days; thereafter, Silverbacks will be priced by traditional auction/bid-ask methods. If less than 75% of the Silverbacks are purchased, all funds will be returned to subscribers.