NEW
YORK, June 7, 2023 /PRNewswire/ -- SMX
(Security Matters) plc (NASDAQ:SMX; SMXWW) is pleased to announce
that it is in the process of creating a new subsidiary, trueSilver,
and has entered into a 120 day exclusive agreement with
Sunshine Minting Inc., to create a path to full transparency and
traceability for silver products from mine site to final products
and recycling and the creation of an industry standard.
This announcement follows the successful filing of patents
pertaining to gold, aluminum, steel and cobalt in 2023.
With silver rarely being found in its pure form (native silver)
and at least 80% of the world's silver being produced as a
by-product of mining for other metals such as gold, copper, lead
and zinc, this progression is considered by SMX to be the natural
next step.
Metals Focus and The Silver Institute forecasted in the "World
Silver Survey 2022", the total supply (mine production, recycling,
net hedging supply and net official sector sales) to be 1,030.0
million ounces in 2022 (up from 997.2 million ounces in 2021), with
the 2022 total demand equaling 1,101.8 million ounces (up from
1,049.0 million ounces in 2021).
SMX's trueSilver technology invisibly 'marks' the silver with a
durable marker, that will allow the physical silver to have a
complete and transparent memory of its journey from
mine-to-marketplace, to recycle and reuse. Enabling an ethical
silver supply chain assurance, to tangibly authenticate and provide
irrefutable proof of the origination of silver for credible ESG
reporting in real time.
From Sunshine Minting: "As we see
the demand for transparency in the pursuit of ethically sourced
materials escalating, along with the requirements for ESG
compliance, we are very excited to work with the team at SMX to
help develop trueSilver as an industry wide solution."
From SMX: "we are extremely honored and looking forward to the
new relationship with Sunshine Minting, with this cooperation, we
look forward to trueSilver becoming the leading player in the
silver industry on ESG IMPACT and provinces standards, including
proving recycled silver content."
About SMX
As global businesses face new and complex challenges relating to
carbon neutrality and meeting new governmental and regional
regulations and standards, SMX is able to offer players along
the value chain access to its marking, tracking, measuring and
digital platform technology to transition more successfully to a
low-carbon economy.
About SMI
Sunshine Minting Inc., (SMI) is a leading domestic and global
supplier of precious metal mint products with manufacturing
facilities in Nevada, Idaho, as well as a joint venture in
Shanghai, China. SMI's primary
customers are sovereign governments, financial institutions,
corporations, major marketing companies, other businesses, and
private groups. In addition to supplying world class products
globally, SMI is heavily invested in providing solutions to
industry challenges such are our MintMark SI Anti counterfeit
feature and recently our Nan-O-DT anti tarnish solution for silver
products.
Forward-Looking Statements
The information in this press release includes "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include, but are not
limited to, statements regarding expectations, hopes, beliefs,
intentions, or strategies regarding the future. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "contemplate," "continue," "could,"
"estimate," "expect," "forecast," "intends," "may," "will,"
"might," "plan," "possible," "potential," "predict," "project,"
"should," "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements in this press release may include, for example:
successful launch and implementation of SMX's joint projects with
manufacturers and other supply chain participants of silver, steel,
rubber and other materials; changes in SMX's strategy, future
operations, financial position, estimated revenues and losses,
projected costs, prospects and plans; SMX's ability to develop and
launch new products and services; SMX's ability to successfully and
efficiently integrate future expansion plans and opportunities;
SMX's ability to grow its business in a cost-effective manner;
SMX's product development timeline and estimated research and
development costs; the implementation, market acceptance and
success of SMX's business model; developments and projections
relating to SMX's competitors and industry; and SMX's approach and
goals with respect to technology. These forward-looking statements
are based on information available as of the date of this press
release, and current expectations, forecasts and assumptions, and
involve a number of judgments, risks and uncertainties.
Accordingly, forward-looking statements should not be relied upon
as representing views as of any subsequent date, and no obligation
is undertaken to update forward-looking statements to reflect
events or circumstances after the date they were made, whether as a
result of new information, future events or otherwise, except as
may be required under applicable securities laws. As a result of a
number of known and unknown risks and uncertainties, actual results
or performance may be materially different from those expressed or
implied by these forward-looking statements. Some factors that
could cause actual results to differ include: the ability to
maintain the listing of the Company's shares on Nasdaq; changes in
applicable laws or regulations; the effects of the COVID-19
pandemic on SMX's business; the ability to implement business
plans, forecasts, and other expectations, and identify and realize
additional opportunities; the risk of downturns and the possibility
of rapid change in the highly competitive industry in which SMX
operates; the risk that SMX and its current and future
collaborators are unable to successfully develop and commercialize
SMX's products or services, or experience significant delays in
doing so; the risk that the Company may never achieve or sustain
profitability; the risk that the Company will need to raise
additional capital to execute its business plan, which may not be
available on acceptable terms or at all; the risk that the Company
experiences difficulties in managing its growth and expanding
operations; the risk that third-party suppliers and manufacturers
are not able to fully and timely meet their obligations; the risk
that SMX is unable to secure or protect its intellectual property;
the possibility that SMX may be adversely affected by other
economic, business, and/or competitive factors; and other risks and
uncertainties described in SMX's filings from time to time with the
Securities and Exchange Commission.
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SOURCE SMX
