Peterson Law acts for BitGold Inc. as it completes amalgamation with Loma Vista Capital Inc. and lists on the TSX Venture Exchange
On April 29, 2015, BitGold Inc. (“Old BitGold”) and Loma Vista Capital Inc. (“Loma Vista”) completed an amalgamation (“Amalgamation”) to form a new company “BitGold Inc.” (“BitGold”). On May 13, BitGold was listed as a Tier 2 Technology company on the TSX Venture Exchange under the new trading symbol “XAU”.
BitGold is a development-stage internet technology business that facilitates the buying and selling of bullion-grade gold for customers. BitGold operates a platform, hosted on www.bitgold.com, that enables users to purchase gold using various electronic payment methods. The Company’s platform is intended to provide various transaction capabilities, including instant cross-border gold payments, merchant invoicing and processing for gold, debit card spending of gold at traditional points of sale, conversions to a customer’s external digital wallet or bank, and physical gold redemptions. BitGold also plans to operate a network of ATMs allowing users to open accounts or deposit local currency in exchange for vaulted gold, which will be accessible for digital transactions. All physical gold acquired through the platform is owned by the customer, stored in vaults administered by The Brink’s Company, acting through Brink’s Global Vault Services International, Inc., which insures gold through third party insurance providers. BitGold accounts are low-cost and convenient to open by anyone in eligible countries as long as applicable regulatory requirements such as Anti-Money Laundering and Know Your Customer requirements are met. The BitGold Platform will not initially be available to U.S. Residents and will be unavailable to residents of sanctioned countries.
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