NEW YORK, NY, Dec. 31, 2021 (GLOBE NEWSWIRE) -- GammaRey, Inc. announced today a liquidity event of the sale of its thirty percent (30%) equity stake in Carbon Zero Asset Management, Inc to Freedom Holdings, Inc. (TICKER: FHLD) (Carbon-Zero), a Delaware corporation. GammaRey is a global fintech company specializing in the disruption of the traditional banking structure, revolutionizing the industry through the implementation of blockchain technologies. GammaRey see's this as a major first step towards monetization of its platform.
Carbon-Zero is a privately-owned fintech company driven by Ethereum based blockchain technology to the carbon credit markets using fungible tokens and smart contracts. Carbon-Zero aims to bring carbon credits more fidelity, transparency, accessibility, liquidity, and standardization. Carbon-Zero is building a programmable carbon ecosystem that will allow carbon credit market participants a tokenization process to digitize carbon credits securely. The ecosystem will include the minting and burning protocols, a transparent mechanism for validating and distributing tokens, a trading venue for tokens, and tools to engage all stakeholders, including the carbon credit originators, offsetters, project verifiers, liquidity providers, NGOs, concerned citizens, and governments.
Carbon-Zero sold 100% of the issued and outstanding equity to Freedom Holdings, Inc. (FHLD). As a result of the transaction, FHLD issued 93,501,819 of its common stock to GammaRey, valued at $93.5 million based on the closing price as of December 31, 2021.
"As the founding member and strategic investor in Carbon-Zero, we are delighted on the recent acquisition and liquidity of our stake," quoted Tim Alford, Co-Founder and Chief Commericialization Officer of GammaRey, Inc. "The momentum we created is exciting and puts GammaRey in a strong financial position for our expected NASDAQ IPO in 2022. We look forward to Carbon-Zero executing its business plan in the rapidly growing voluntary carbon credit market, which in turn will not only enhance our current valuation but strengthen our balance sheet considerably."
About GammaRey
GammaRey is a global fintech company with a focus on the remittance industry. GammaRey is revolutionizing the speed and fee structure of remittance technologies worldwide through blockchain technologies. GammaRey is quickly evolving into a full-stack ecosystem for the new world digital economy, including its commodity-backed digital currency, a digital wallet, and a proprietary platform providing functionality through securities trading, goods, and services.
For more information, please visit https://www.gammarey.com/
Press Release Contact:
Jessica Starman
888-461-2233
jessica@elev8newmedia.com
www.elev8newmedia.com
Safe Harbor Statement
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief, or current expectations of the Company, members of its management, and assumptions on which such statements are based. We caution prospective investors that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements.
