TORONTO, Oct. 17, 2018 /CNW/ - IAMGOLD Corporation
("IAMGOLD" or the "Company") today announced that it has made a
strategic investment in Emergent Technology Holdings LP ("EmTech"),
a financial technology company that uses blockchain technology to
track the provenance of responsibly sourced gold.
IAMGOLD joins partners that include Sprott Inc., Valcambi sa and
Yamana Gold Inc., in investing in EmTech's innovative gold supply
chain and digital token platform. EmTech's Responsible Gold™ supply
chain application is the only blockchain solution that automates
the tracking of responsibly sourced gold from origin to vault. This
gold is digitized into G-Coin™ tokens, which are digital
certificates of title to responsibly sourced gold. G-Coin tokens
can be bought as investments, moved easily to transfer wealth or
make payments, and are redeemable for physical gold.
EmTech's G-Coin tokens are the foundation for a liquid, digital
gold trading market. EmTech's proprietary blockchain technology
reduces the operational expenses associated with gold tracking and
trading and improves the security and transparency over traditional
supply chain and trading platforms.
"We are thrilled to be an early investor in Emergent
Technology," said Steve Letwin,
President and CEO of IAMGOLD. "Innovation is a key aspect of the
industry's modernized operating model, and as miners we must begin
thinking more strategically to stay sustainable and profitable in
the future. By placing us at the forefront of an exciting new
blockchain-based ecosystem, this investment will allow IAMGOLD to
unlock new value by revolutionizing provenance and efficiency and
providing greater transparency in the supply chain. EmTech also
brings a unique opportunity for the gold sector to collaborate and
further contribute to the improvement of socioeconomic and
humanitarian conditions in jurisdictions where precious metals are
mined. We look forward to working with like-minded peers for the
betterment of the gold mining industry and taking control of our
destiny by bringing gold into the digital age."
"We welcome IAMGOLD's support of Emergent Technology and the
Responsible Gold ecosystem. Together with our partners, we are
improving the integrity of the gold supply chain," said
Matthew Keen, EmTech's Managing
Director, Responsible Gold Trading. "Investors and fabricators are
increasingly demanding ethically sourced gold from miners and
refiners. Our proprietary blockchain technology supports their
efforts by providing an immutable and irrefutable record of
provenance and chain of custody. For the first time, ethically
minded investors can trade G-Coin tokens to access gold's classic
portfolio diversification attributes."
IAMGOLD's partnership with EmTech presents an exciting
opportunity to drive profitability while remaining committed to the
mining of responsible gold. By harnessing blockchain, IAMGOLD will
be able to deliver new benefits to its stakeholders and move the
gold industry forward in ground-breaking new ways.
EmTech's Responsible Gold supply chain application is
operational and available for licensing. G-Coin tokens will be
available for purchase later this year.
About Emergent Technology Holdings LP
Based in
Santa Clara, California, Emergent
Technology Holdings LP owns and operates Emergent Payments®, the
Responsible Gold™ platform and G-Coin™. EmTech provides
blockchain-based technology solutions that track responsibly
sourced gold from mine, to refinery, to vault, and then digitizes
that gold into secure G-Coin tokens for investing, sending and
spending globally. EmTech operates in more than 70 high-growth
markets across Asia-Pacific,
Latin America, Africa and the Middle East. For more information visit
www.emergenttechnology.com
About IAMGOLD
IAMGOLD (www.iamgold.com) is a mid-tier
mining company with four operating gold mines on three continents.
A solid base of strategic assets in North and South America and West Africa is complemented by development and
exploration projects and continued assessment of accretive
acquisition opportunities. IAMGOLD is in a strong financial
position with extensive management and operational expertise.
For further information please contact:
Anthony Moreau, Business
Development & Innovation Manager, IAMGOLD Corporation
Tel: (416) 594-2879
Toll-free: 1-888-464-9999 info@iamgold.com
Please note:
This entire news release may be accessed via fax, e-mail, IAMGOLD's
website at www.iamgold.com and through CNW Group's website at
www.newswire.ca. All material information on IAMGOLD can be found
at www.sedar.com or at www.sec.gov.
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SOURCE IAMGOLD Corporation
