PRESS RELEASE
By: NewMediaWire
September 4, 2024
GEM Digital Limited Increases Investment Commitment With Cunningham Mining Ltd From $153M USD to $336M USD
Cunningham Mining Ltd Secures $153 Million USD Investment Commitment from GEM Digital Limited for American Creek Resources Ltd Acquisition with RWA Token
VANCOUVER, British Columbia - (NewMediaWire) - September 4, 2024 - Cunningham Mining Ltd is pleased to announce that the originally executed token subscription facility with GEM Digital Limited (“GEM Digital”) for the amount of $153 million USD has been increased to $336 Million USD, boasting major confidence to markets from the original financing facility that will be used for the proposed acquisition of American Creek Resources Ltd (TSXV: AMK). Cunningham Mining Ltd plans to use the increased facility for further acquisitions of gold properties in the coming future.
Under the agreement, GEM Digital will provide Cunningham Mining with a Token Subscription Facility of up to $336 million for a 36-month term following a Centralized Exchange listing of the Cunningham Mining Token. Cunningham Mining will control the timing and maximum amount of drawdowns under this facility and has no minimum drawdown obligation.
"We are excited about strengthening our partnership with GEM Digital for this significant token subscription facility, which will enable the company to acquire American Creek Resources Ltd and further expand our presence in the gold exploration sector. American Creek Resources’ full twenty percent carried interest of the Treaty Creek Gold deposit will be added and monetized onto the balance sheet of our pending RWA based NGTGOLD Token containing over 6 million ounces of in ground gold resource and potentially more," said Ryan Cunningham, CEO of Cunningham Mining Ltd. "This acquisition aligns with our strategic growth plans and will allow us to capitalize on the promising opportunities in the gold market.
"We are confident that this financing deal with GEM Digital will support our acquisition of American Creek Resources Ltd and drive long-term value for our shareholders," added Cunningham. "We look forward to leveraging the expertise and resources of both companies to maximize the potential of this acquisition and deliver positive results for all stakeholders. Our NGTGOLD Token will be announcing its formal exchange listing in the coming days.”
The closing of the financing deal is subject to customary closing conditions and regulatory approvals. Further details regarding the acquisition of American Creek Resources will be announced in due course.
About GEM Digital Limited
GEM Digital Limited is a digital asset investment firm. Based in the Bahamas, the firm actively sources, structures and invests in utility tokens listed on over 30 CEXs and DEXs globally.
Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group with offices in Paris, New York and the Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 530 transactions in 72 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provides GEM and its partners with exposure to Small-Mid Cap Management Buyouts, Private Investments in Public Equities, and select venture investments.
About Cunningham Mining Ltd
Cunningham Mining (www.cunninghammining.com) has successfully completed the acquisition of the Placer Claims known as the 'Nugget Trap Placer Mine" in the British Columbia Mineral Title registry, covering 573.7 acres, along with the accompanying permits and authorizations ("Property"). The Property is situated within the Skeena Mining Division of British Columbia, Canada, in the area known as BC's Golden Triangle. The company intends to digitize its current and future mining properties and claims through the issuance of “NGTGOLD” www.nuggettrap.com digital asset tokens.
Cunningham Mining Ltd
10026 Pacific Centre 25th FL
Vancouver, BC, V7Y 1B3
Phone: 1-833-344-4653
Email: info@cunninghammining.com
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