Unicoin Inc. buys Copper Mine in record $210M global Properties-for-Crypto transaction

Release date Aug. 16, 2023, 03:00 pm EDT
San Francisco, CA, United States
Unicoin Inc. buys Copper Mine in record $210M global Properties-for-Crypto transaction
Unicoin Inc. announces the successful acquisition of a promising copper mine, expanding their portfolio and strengthening their presence in the mining industry. This strategic move positions Unicoin Inc. to capitalize on the growing demand for copper and underscores their commitment to sustainable resource development.

Unicoin, an assets-backed cryptocurrency that addresses the extreme volatility of the crypto market, announced today that it signed an agreement with Electroquímica Del Neuquen S.A., ("Electroquímica") an Argentine corporation, to acquire from Electroquímica the rights to explore and exploit mineral rights located in Argentina, primarily copper. Unicoin creates value for its investors by growing a diversified portfolio of assets, including equity stakes in high-growth companies and real estate properties.

The property is known as the Barda Gonzalez Project, in the Neuquen Province of Argentina. The purchase price shall be paid in unicoins. The acquisition is structured pursuant to Unicoin's program of acquiring real estate assets at 140% of their appraised value for unicoins, at an agreed value of $0.50 per unicoin. Unicoin Inc. agreed to pay Electroquímica 420,000,000 unicoins for the acquisition, a $210M value at the 50¢/ú price investors currently pay for unicoins.

The transaction is subject to the completion of due diligence and successful transfer of the mining concessions from Electroquímica. Upon closing of the transaction, Electroquímica will become the largest single holder of unicoins.

"We are pleased to announce a major step forward in achieving our goal of building a $1 Billion real estate portfolio to support the value of Unicoin," said Alex Konanykhin, CEO of Unicoin Inc. Konanykhin also stated that "these valuable property rights significantly increase our total assets, while supporting our ability to raise capital and launch unicoins, providing benefits to all of our investors."

"We are pleased to have selected Unicoin as our cryptocurrency of choice to partner with as we strongly believe in their business model of an asset-backed coin versus the majority of the coins on the worldwide market with ZERO assets. We look forward with great excitement towards the future to collaborate with Unicoin on other projects around the globe, and to make Unicoin the top cryptocurrency for serious investors worldwide," said Ernesto Bernadet, owner of Electroquímica.

According to consulting firm McKinsey & Co., electrification is expected to increase annual copper demand to 36.6 million metric tons by 2031, with supply forecast to be around 30.1 million tons, creating a 6.5 million-ton shortfall at the start of the next decade. The US Department of Energy added copper to the critical minerals list earlier this month.

Unicoin growth strategy includes innovative fundraising strategies like its Buy Now, Pay Later program and its 140% program, which offer real estate owners the opportunity to use their properties to acquire cryptocurrency.

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Distribution channels: Blockchain Real Estate
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