Madison Metals Signs Uranium Forward Sales Agreement and Creates the First Uranium-backed NFT with Lux Partners

TORONTO, Sept. 30, 2022 (GLOBE NEWSWIRE) — Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) is pleased to announce the signing of a historic and first-of-its-kind uranium forward sales agreement with Lux Partners Ltd. (“Lux”). Lux operates Lux Network , the first decentralized blockchain integrated with and operated by a network of regulated bank and money transmitter partners. The five-year exclusive supply agreement provides for the delivery of up to 20 million pounds of U 3 O 8 from Madison’s uranium projects in Namibia following the commencement of commercial production. The fulfillment of the U 3 O 8 delivery would back the first-ever uranium-backed non-fungible tokens (“ NFTs ”).

“Having the ability to potentially monetize our uranium resources at a premium using innovative technology provided by industry leaders is a testament to our forward-thinking strategy to deliver shareholder value,” said Duane Parnham, Executive Chairman and CEO […]

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