Proceeds to fund Mynt’s global expansion empowering people to buy, sell and spend gold and silver via Mynt’s trading app and gold-backed debit MasterCard
IRVINE, CA, May 17, 2024–Mynt, Inc (mynt.inc), the company that empowers people to buy, sell and use physical gold and silver to make payments using a debit Mastercard, today announces a private placement of $5 Million.
Founded in 2023, Mynt offers investors worldwide a low cost way to buy and sell physically allocated gold and silver and for the first time instantly spend it via the Mynt gold-backed and silver-backed debit cards anywhere in the world Mastercard is accepted. The app will include multiple currency wallets, including USD, GBP and EUR.
The Dollar has lost more than 85% of its purchasing power over the last 50 years whereas gold’s purchasing power has increased by over 470%. Mynt’s transactional gold and silver currency accounts offer users the ultimate form of money, insulating them from the destructive effects of inflation and protecting them from the systemic risk of future global financial crisis.
John Drummond, CEO of Mynt said, “We plan to raise 25 million dollars. This first proposed financing will provide the Company with the financial resources to launch our trading platform and gold-based debit card to both investors and consumers worldwide.”
Mynt is committed to being at the forefront of innovation in the gold market by supporting initiatives that make gold quicker, easier and more cost effective to use as a means of paying for goods and services. The Mynt Mastercard and its physically-backed storage are groundbreaking technologies.
About Mynt
Mynt is a FinTech business operating a multi-currency gold and silver trading platform and debit card that enables gold and silver to be used as money. Mynt is on a mission to provide everyone in the world with a reliable form of money. Mynt’s gold backed and silver backed Mastercard enables clients to save, exchange and spend physically allocated gold, silver and other currencies, anywhere in the world where Mastercard is accepted. Mynt’s clients know their gold is secured in a Loomis International Vault in Switzerland and insured by Lloyds of London. Gold, silver and all currencies purchased via Mynt, are in safeguarded and segregated accounts. Gold is the world’s alternative to government-controlled paper money and is a secure and globally accepted form of payment. Mynt is a tangible alternative to cryptocurrencies, because it allows access to physical gold and silver and facilitates instant purchases worldwide. Mynt interacts with the global banking system and is a form of instantaneous payment for goods and services. Mynt expects to be issuing its debit card to clients in the third quarter of 2024.
Cautionary Statement Regarding Forward-Looking Statements
This communication contains forward-looking statements within the meaning of section 27A of the Securities Act and section 21E of the Exchange Act that are based on beliefs and assumptions and on information currently available to Mynt. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including strategies or plans as they relate to the proposed transaction, are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Although Mynt believes that it has a reasonable basis for each forward-looking statement contained in this communication, the Company cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. Forward-looking statements in this communication include statements regarding the proposed transaction, including the timing and structure of the transaction, the proceeds of the transaction and the benefits of the transaction. Mynt cannot assure you that the forward-looking statements in this communication will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including the ability to complete the business combination due to the failure to obtain approval from shareholders or satisfy other closing conditions in the business combination agreement, the occurrence of any event that could give rise to the termination of the business combination agreement, the ability to recognize the anticipated benefits of the business combination, the amount of redemption requests made by the public shareholders, costs related to the transaction, the risk that the transaction disrupts current plans and operations as a result of the announcement and consummation of the transaction, the outcome of any potential litigation, government or regulatory proceedings and other risks and uncertainties. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by Mynt or their respective directors, officers or employees or any other person that Mynt will achieve their objectives and plans in any specified time frame, or at all. The forward-looking statements in this communication represent the views of Mynt as of the date of this communication. Subsequent events and developments may cause those views to change. However, while Mynt may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of Mynt as of any date subsequent to the date of this communication.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Mynt, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Company Contact:
John Drummond
Chief Executive Officer
Mynt, Inc.
1-760-688-3107
j.drummond@mynt.inc