SAN FRANCISCO, CA, Dec. 27, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- APT Systems, Inc. (OTC Pink: APTY), a fully-reporting, fintech company, advises that it has fully launched its wholly owned subsidiary, AUREX Trading and Recovery Inc. The new operation is focused on trading precious metals and other valuable commodities, recoverable from a variety of military, industrial and consumer electronics.
AUREX is initially focused on the aggregation and refining of commodities like gold, palladium, platinum and silver extracted from a variety of sources but mostly electronics. The trading operation has been opened in a warehouse located just outside of Reading, PA with the ability to source, ship, aggregate and refine precious metal bearing products. Management has secured scalable industrial space that is strategically located with easy access to major cities. The Aurex facility provides us with immediate advantages in logistics that allows the Company to benefit from regional pricing differences.
“We’re excited to be opening this precious metal trading and recovery facility, especially in Pennsylvania, a state that has significant advantages including proximity to source material and refining partners,” said Glenda Dowie, CEO of APT Systems. “This trading operation is focused on providing liquidity and price transparency to small recyclers helping us to achieve best practices for managing and recycling e-waste.”
It is estimated that the United States produces more e-waste annually than any other country and that Americans throw away 9.4 million tons of electronics every year. Sadly, it is estimated that only 29% of all global e-waste is handled via the accepted best practice recycling channels.
AUREX is focused on opportunities that can be shown to demonstrably enhance the operations and cash flows of the small recycling partners it serves. The Company is evaluating prospects for developing a formal platform for posting industry prices to create more transparency inside the e-waste industry.
About AUREX Trading and Recovery Inc: Founded in 2018, this subsidiary has made its goal to help the recycling industry move society towards adopting our responsible ‘zero electronic waste in our landfills’ policy. AUREX is leveraging industry-leading technology to provide liquidity and pricing transparency to recyclers and the precious metals recovery industry.
About APT Systems Inc.: APT Systems Inc. is a financial technology company that is developing platforms, including trader access to proprietary charting tools, via the KenCharts application, and plans to launch its innovative trading application, Intuitrader. Verifundr is an escrow and payments platform and Tyrtrade is an interchange for minting and delivering Spera, a stable coin. Management also strategically reviews other compatible financial businesses which demonstrate strong growth potential. We are continuing our diligent search for software products and partners that would enhance our operations. Management launched its subsidiaries SNAPT Games, Inc. and RCPS Management, Inc. to further facilitate new products, acquisitions and long-term goals.
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