Discovery Minerals Selects Alt 5 Sigma for the Development of its Discovery Coin and Payment Gateway

Rhea-AI Summary

Discovery Minerals LTD (OTC PINK:DSCR) has selected Alt 5 Sigma Inc. to develop its Discovery Coin and payment gateway, aimed at diversifying revenue through a gold-backed digital asset. The project plans to mint 210 million Discovery Gold Coins on the Ethereum Blockchain, each tethered to 2,100 Bitcoins, Ethers, and ounces of gold and silver. The initiative will enable global merchants to accept the coin as payment. CEO Russel Smith emphasized the potential benefits for shareholders and noted plans to leverage gold reserves from the Ruby gold mine for the coin.

Positive

• Selection of Alt 5 Sigma Inc. for Discovery Coin development enhances technological capacity.
• Creation of a gold-backed cryptocurrency diversifies revenue streams.
• Potential for increased liquidity and monetization of gold resources.
• Global merchant payment gateway could expand acceptance of the coin.

Negative

• None.

GRASS VALLEY, CA / ACCESSWIRE / April 20, 2021 / Discovery Minerals LTD (OTC PINK:DSCR), the precious metals exploration and production company, is pleased to announce the selection of Alt 5 Sigma Inc., for the development of its Discovery Coin ("DSG") and Payment Gateway. The goal for creation of a gold-backed Discovery Coin is for revenue diversification to create liquidity and assist in monetizing gold resources

According to the agreement, Alt 5 Sigma plans to mint a total of 210 million of the Discovery Gold Coins onto the Ethereum Blockchain with DSG. Once fully subscribed, the intent is for the Discovery Gold Coin to be tethered to 2,100 Bitcoins, 2,100 Ethers, 2,100 ounces of physical gold and 2,100 ounces of physical silver. In addition to the minting of the coin, Alt 5 Sigma will assist the company with payment processing, secondary listing, as well as deploying a merchant payment gateway using their proprietary technology, enabling merchants globally to accept Discovery Gold Coin as payments.

"We have been exploring the creation of a gold-backed coin, leveraging gold reserve assets in mining claims. Alt 5 Sigma's team and technology has really set themselves apart when it came time to select a blockchain technology provider," said Russel Smith, President and CEO of Discovery Minerals. "The Discovery Gold Coin is a great opportunity for both our shareholders and holders of the Coins alike. As the Ruby gold mine consolidates into expanded production, Discovery Minerals Ltd will explore dedicating part of the reserves and production to the Discovery Gold Coin assets. Details of such a transaction are currently being formulated," further added Mr. Smith. Mr. Andre Beauchesne, Chairman of ALT 5 Sigma, applauded this concept as being positive for both Discovery Gold Coin and Discovery Minerals Ltd .

About Discovery Minerals Ltd

Discovery Minerals Ltd. (OTC PINK: DSCR) is an acquisition and development company that targets natural resource properties and cutting-edge technology opportunities through its subsidiaries. The Board of Directors has determined that these activities be continued with an emphasis on early positive cash flow from any projects undertaken.

About Alt 5 Sigma Inc.

ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency, and compliance.

ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker-Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.

www.alt5sigma.com, www.alt5pro.com, www.alt5pay.com, www.alt5prime.com, www.alt5connect.com

Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties, including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.

CONTACT:
Alt 5 Sigma Inc.
Andre Beauchesne, President and CEO
info@alt5sigma.com
Tel. 1-888-778-7091

Discovery Minerals Ltd.
Russell Smith
Info@discoveryminerals.com

SOURCE: Discovery Minerals Ltd.

View source version on accesswire.com:
https://www.accesswire.com/641211/Discovery-Minerals-Selects-Alt-5-Sigma-for-the-Development-of-its-Discovery-Coin-and-Payment-Gateway

FAQ

What is the Discovery Coin announced by Discovery Minerals (DSCR)?

The Discovery Coin is a proposed gold-backed digital currency being developed by Discovery Minerals in partnership with Alt 5 Sigma Inc.

How many Discovery Gold Coins will be minted?

A total of 210 million Discovery Gold Coins are planned for minting.

What will the Discovery Gold Coin be backed by?

The Discovery Gold Coin will be backed by 2,100 Bitcoins, 2,100 Ethers, and 2,100 ounces each of physical gold and silver.

What is the purpose of the payment gateway associated with the Discovery Coin?

The payment gateway will allow global merchants to accept Discovery Gold Coin as a form of payment.

When was the announcement regarding Discovery Coin made?

The announcement about the Discovery Coin was made on April 20, 2021.