SCOTTSDALE, Ariz., Nov. 18, 2016 /PRNewswire/ -- Monetary Metals announces that it has raised over $506,000 in equity capital. The pre-money valuation of the company was $3,000,000. The company had set out to raise $400,000, so the round closed at 27% oversubscribed.
The company plans to use the proceeds to accelerate its gold fixed-income product, its marketing including the launch of an important gold market indicator, intellectual property, and general corporate purposes.
"We are on a mission to unlock the utility of gold. We are pleased that investors from all around the world saw our vision—Europe, the Antipodes, China, and North America—and came on board," said Keith Weiner founder and CEO.
The company's offerings include the Gold Exponential Fund, a managed, private investment created to meet the needs of sophisticated investors looking to put their gold to work. The Fund seeks to compound investors' physical gold, while vaulting it outside the banking system to avoid counterparty risk.
About Monetary Metals
Monetary Metals unlocks the productivity of gold by offering a yield on gold, paid in gold and gold financing, simplified. The company's flagship offering is the Gold Exponential Fund. Monetary Metals also offers a fixed income product, with other investment vehicles under development. Monetary Metals publishes groundbreaking research to help investors understand the emerging role of gold as the ultimate measure of wealth.
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SOURCE Monetary Metals