trueGold's Growth Gains Momentum as it Welcomes Two New Strategic Investors, Partners and Board Members

MELBOURNE, Australia, Aug. 22, 2022 /PRNewswire/ -- trueGold Consortium is a subsidiary of Security Matters (SMX), a tech company that focus on providing a complete transparent mine-to-refinery to marketplace, to final product as well as to recycle/reuse; ethical supply chain assurance and digital blockchain platform solution for the entire gold industry. Based in Australia, trueGold welcomes strategic investors and partners, Ava Global Logistics and Alberto Morales, who join the growing consortium with a pre-money valuation of AUS$60million. In addition, Grant Angwin has been appointed the Chairperson who will lead the Gold Industry Advisory Board and Jason Waters will join the Board of Directors.

Strategic Partners, Ava Global Logistics and Alberto Morales

The two latest investors joined trueGold Consortium – a jointly held company of SMX and W.A. Mint Pty Ltd, a wholly-owned subsidiary of The Perth Mint, Australia (44% each), seeking a complete mine-to-marketplace ethical gold supply chain assurance and to tangibly authenticate and provide irrefutable proof of quality, quantity, and origin of gold for credible ESG reporting in real-time.

Established in 2016, Ava Global Logistics is a market leader in secure international logistics and risk management solutions, trusted by some of the most security-conscious financial services, mining, industrial and government clients.

"Ava Global understands the importance and need for reliable technology that will provide greater levels of security and transparency for clients, which can accurately verify the origination and certify ESG compliance in real-time of globally stored and transported gold. And so, we are pleased to be associated with trueGold and look forward to our collaborative efforts, both commercially and on the Gold Industry Advisory Board," said Chris Fergus, CEO of Ava Global Logistics.

With over 30 years of experience in corporate finance, mergers, and acquisitions, founder of major Latin American silver producer Andean Precious Metals Corp (TSX-V: APM), Alberto Morales, foresees the increasing importance of ESG practices globally.

"I am excited to be involved in this innovative and revolutionary technology that verifies physically and digitally the full traceability of gold from origination to finished product in real-time to build an accurate and reliable ESG verification system. What impresses me most is the ability of the trueGold system and its blockchain platform to verify and provide full traceability of the gold even if it has been melted and reformed into a new product," he said.

Currently, other technologies available are a 'check and verify' system of the suppliers whilst trueGold's technology provides full traceability for gold from mine to product, to recycling, and back to refining.

Solidifying the Advisory Board and Board of Directors

Following the joining of AVA Global Logistics and Alberto Morales, trueGold also appointed Grant Angwin as the Independent Chairperson of the Gold Industry Advisory Board and Jason Waters, CEO of The Perth Mint, to the trueGold Board of Directors.

The trueGold Consortium is confident that Angwin's 40-year experience in the gold industry, most recently as President of Asahi Refining NA – the world's largest gold and silver refiner – will strengthen the Gold Industry Advisory Board's activities to facilitate the delivery of its advice, developing and approving its forward work program and facilitating discussions between members.

The trueGold Industry Advisory Board consists of members from the gold industry, who will actively participate in the adoption and commercialization of trueGold's technological offerings and be an advocate and a promoter of trueGold within the gold industry.

Additionally, the appointment of Jason Waters, currently serving as The Perth Mint CEO, is expected to be a strong positive contributor on the trueGold Board, in developing a reliable and credible ESG verification tech solution and digital platform for the global gold supply chain.

"We look forward to continuing the strong alliance between The Perth Mint and trueGold with the shared objective to provide the gold industry with an industry wide solution to help provide both tangible and blockchain solutions that not only help to enable full transparency of the entire supply chain of the gold industry but also credibly verify the gold's provenance after the finished product has been recycled," said Hugh Morgan AC, Chair of trueGold Consortium.

trueGold, Providing Full Transparency from Mine to Recycling and Back to Refining

trueGold uses SMX tech application to ensure circular economy practices in the gold industry. As well as to provide the world's first ethical gold supply chain assurance solution that spans the whole gold value chain from mine to refinery to terminal market through recycling and back again to refinery.

The company enables accurate, credible, and transparent ESG reporting capabilities by creating a digital twin to the physical object via a shared blockchain platform with all the players along the gold value chain. It is also increasing interconnectedness between miners, refiners, financiers, bullion traders and buyers, manufacturers, and recyclers, and delivering transparency and assurance based on science and technology – not paper-based.

trueGold technology also simplifies tracking in the gold industry to comply with ESG practices through One Digital Blockchain Platform that allows a decentralized supply chain for the verification of gold, using one technology and one service provider from mine to client and recycling, and a B2B trading platform for gold.

Growing on Solid Foundation: SMX's Announced Business Combination with Lionheart III Corp.

In July, SMX had announced its plans to enter into a business combination with Lionheart III Corp. (NASDAQ: LION), a special acquisition purpose company, expected to be valued at US$360 million.

The value reflects an implied pre-money valuation of the company of US$200 million and an expected post-transaction cash balance of US$116 million, assuming no redemptions by Lionheart's public stockholders (noting that recent SPAC transactions have been characterized by high redemption rates). The transaction is anticipated to close in the 4th quarter of 2022.

Additional information about the merger and proposed transaction is provided in a current report on form 8-K filed by Lionheart with the U.S. Securities and Exchange Commission on July 26, 2022 and available at www.sec.gov.

About trueGold Consortium

trueGold seeks to be an essential part of every gold trade both physically and digitally – as a global industry standard, providing the most secure and fully transparent traceability tech solution, from the mine to market to finished product. Thus, enabling companies and brands to meet their ESG regulations and obligations tangibly and measurably.

trueGold uses both the SMX tech applications that offer an advanced next-generation technology that can invisibly mark and store multiple data at a molecular level, in solids, liquids, or gas; as well as its blockchain digital platform.

About Security Matters Limited

Security Matters has commenced the commercialization of its unique, patented technology that uses a hidden chemical-based 'barcode' designed to permanently and irrevocably 'mark' any object, be it solid, liquid or gas. The barcode is read using the company's unique 'reader' to access the corresponding stored data, recorded, and protected using blockchain technology.

About Lionheart III Corp.

Lionheart III Corporation is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. For more information, visit: https://lheartcapital.com/our-companies/lionheart-iii/.

SOURCE trueGold; Security Matters Ltd