Madison Reports Initial Sales of First Uranium-backed NFT

TORONTO, Oct. 27, 2022 (GLOBE NEWSWIRE) — Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) and Lux Partners Ltd. (“Lux”) are pleased to announce the first capital inflow from the initial first tranche mint launch of the Lux Uranium token , with proceeds totalling net to Madison USD $5.12 million.

The initial sales have exceeded all Lux projections as the non-fungible tokens (NFTs) continue to offer an exceptional value proposition, price discovery and transparency for exposure to uranium at a marginal discount to the current U 3 O 8 spot price as quoted at USD$52.60 using October 24, 2022 prices published by UxC and TradeTech . Additional guidance will be provided over the next two weeks as follow-on sales orders, market listings and partnerships are made public.

The five-year exclusive supply agreement initially provides 7.65 million pounds of U 3 O 8 that Madison has contributed to the […]

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