As the oil and gas sector goes through a process of rapid change, the first Canada-based EMD formally adopts PermianChain's natural asset security tokens.PermianChain looks at the blockchain as a way of solving issues for both the natural resources sector... and the digital-asset mining sector...”— Mohamed El-Masri, founder and CEO of PermianChain TechnologiesTORONTO, ONTARIO, CANADA, October 27, 2020 /EINPresswire.com/ -- Windermere Capital, a Montreal-based investment firm, is to adopt PermianChain’s digital securities issuance platform for natural asset security tokens (NAST). NASTs are issued by privately-held oil and gas companies adopting the oil and gas Blockchain-integrated framework (OGBiF). PermianChain Technologies, the firm behind the OGBiF and NAST, is a fintech and blockchain start-up that brings together the digital asset mining and oil and gas sectors.
The move makes Windermere Capital the first exempt market dealer (EMD) to serve OGBiF issuers and deal in their NAST under available prospectus exemptions on the PermianChain framework. EMDs are a key component of the oil and gas sector in Canada. They trade in exempt market securities which can be traded without prospectus requirements although they still have to adhere to market regulations that help protect investors such as know your client (KYC) and anti-money laundering (AML) regulations. EMDs are often interested in small but still credible oil and gas projects that require investment but may not meet the requirements of the full investment process for most financial institutions.
Windermere will be the lead placement agent in Canada for the Brox Equity token (BROX), a multi-commodity, income generating digital security that is comprised of natural gas, oil, electricity and Bitcoin. BROX will be the first NAST issued through the PermianChain Investor platform to accredited investors.
The BROX issuance will be Brox Equity’s second-round capital raise, which will lead to the development of 60MW natural gas power sites for bitcoin mining data centres in Alberta and on its existing oil and gas producing fields in East Texas. The power capacity will be tokenized on the PermianChain to provide low-cost electricity and host PermianChain’s network of miners around the world. This will enhance capacity for the digital asset mining sector, using stranded or otherwise wasted natural gas from the growing number of oil and gas projects in Brox Equity’s pipeline across Canada and the US.
“PermianChain looks at the blockchain as a way of solving issues for both the natural resources sector, which often has wasted gas that would be too expensive to pipe to market, and the digital-asset mining sector, which is desperate for low-cost, reliable power to support their innovative projects,” says Mohamed El-Masri, founder and CEO of PermianChain Technologies and director and CEO of Brox Equity. “Windermere Capital adopting the NAST method to sponsor the companies that are implementing the OGBiF validates our business model and more importantly will increase access to capital and reduce waste for the natural resources sector and increase affordable power for digital asset mining projects.”
“Windermere Capital is always seeking innovative ways to capitalize on its natural resource assets. PermianChain’s framework and approach to tokenize natural resources under the OGBiF and NAST mechanisms eliminates many of the sector’s convoluted processes and high investment barriers,” says Chris Wright, Founding Partner and Managing Director of Windermere Capital. “The issuance of BROX is an important milestone to bringing institutional acceptance for NAST as income-generating financial instruments.”
Mohamed El-Masri, founder and CEO of PermianChain Technologies and director and CEO of Brox Equity will be hosting a discussion entitled Oil, Natural Gas and Blockchain, at the Blockchain Revolution Global event on Wednesday, October 28. You can register for the event here: www.blockchainrevolutionglobal.com
About PermianChain Technologies
PermianChain is a proprietary technology platform that brings together the crypto-asset mining and oil and gas sectors. Using a permissioned access blockchain, PermianChain makes it possible to utilise stranded and wasted energy resources, unlocking liquidity and transforming the way that oil and gas projects are funded, produced, bought and sold. Established in 2018, PermianChain Technologies is a pioneer member of the Blockchain Research Institute (BRI) and start-up member of the Petroleum Technology Alliance Canada (PTAC).
PermianChain recently published a join whitepaper with the BRI. To download the report go to https://www.blockchainresearchinstitute.org/project/oil-natural-gas-and-blockchain/
About Windermere Capital
Montreal-based Windermere Capital is an investment management firm focused on the creation, management and distribution of unique investment products and solutions. Founded in 2006, Windermere Capital is the culmination of a 10 year partnership, more than 60 years of investment experience and key investing partners.
About Brox Equity
Brox Equity is a Calgary-based investment holding company that is dedicated to making direct acquisitions into privately held oil and gas exploration and production companies, power generation businesses and data mining operations. The company transforms its underlying energy commodities into invest(able) digital assets for economic benefits and reliable income generation with the introduction of its own Ethereum-based (ERC-20) digital security.