Dear Investors, Partners, Community, Friends.
When the Novem Gold project started, there was a pact made including everyone involved. This pact was that we will always go the safe route, do the legal thing and the right thing, never cut corners, build a utility token with a real utility, stores that give customers real benefits, and the safest gold backed token in the world.
After over a year of hard work we finally have both tokens ready, from a technical and marketing point of view, to go to market. And whilst our founders have had a store in Wels, Austria for a long time (it is the proof of concept that we are basing all future stores on):
we are proud and happy to announce, that on September 2nd 2019, our very first Novem Gold store will open its doors at Landstraße 1, 4020 Linz, Austria. We have already put up ads on the windows, in the meantime the interior is being redone to meet our needs.
Because the tokens are ready on the technical side and the stores are progressing, we have started the public pre-sale of our NVM token and submitted the securities prospectus regarding our NNN gold token to the FMA for approval.
A prospectus is a disclosure document that informs potential buyers about the outline, details and also potential risks of a financial security. Since part of our pact was to go the safe route, not just for ourselves but also for our customers, we have based our company, which is emitting the NNN token, in Liechtenstein, this means it will be regulated as a security. That brings higher scrutiny and therefore more safety for everyone involved. To be legally allowed to go to market, a security must have an approved prospectus, thats why we had one made and submitted it weeks ago.
This timeline was designed so the approval was very likely to be given before July the 21st, 2019, which is the day on which the new EEA law regarding the content and format of a securities prospectus took effect, as announced on the FMA Website:
Unfortunately, the prospectus we submitted did not get the approval in time. Now, our lawyers and accountants are working hard on collecting the necessary information and creating/adapting the content needed to finish our prospectus in full and approvable conformity to the new law. However, even though everyone works at full speed, this will affect a delay of 4-6 weeks realistically, meaning that our NNN gold token will go to market later than expected.
Because the market-entry of the NNN gold token is a vital step in our business and marketing plans as well as the sale phases, we have decided to extend the pre-sale phase and postpone the NEO & NEO Gas only phase, as well as the ICO phase until we can name definitive dates, based on the prospect getting its final approval.
This does not constitute any other changes in our project, however we believe it necessary to ensure the success of our token sale.
We are looking forward positively to where this journey will lead us, hopefully to many, many Novem Gold stores everywhere and living up to our vision of being the safest gold token in the world to become a reliable way of investing in gold for people all around the world. Thank you for your patience and we appreciate having you on our team.
The exact dates and details can be seen in our timeline on the token page at https://nvm.novemgold.com
the Novem Gold Team