Black Pearl S.A. – owner of the MCAN COIN cryptocurrency wallet listed on: Latoken, P2PB2B, CoinTiger, DigiFinex, QB Exchange and Coinsbit – in accordance with the development strategy aimed at dynamic strengthening the business activity in the area of the acquisition of enterprises for own cryptocurrency, and thus an increase in the value of the Company’s physical assets:
Reduced the number of MCAN COINs in circulation by 80%, thus reducing the available quantity of MCAN COINs from 5,000,000,000 to 1,000,000,000. The reduction took place through the so-called „Burning” – it means permanent exclusion from circulation by transferring 4,000,000,000 MCAN COIN to the address 0x000000000000000000000000000000000000dEaD – transaction hash: 0x7fa0d5ac5b3012a5ed5f2235db19dbab249be55c272c9ba0292ef2d11e173bef
The stock of mined / issued coins has thus been permanently reduced and limited to the maximum quantity available („Maximum Supply”) of 1,000,000,000 MCAN COIN.
Froze a further amount of 400,000,000 MCAN COIN within a new reduced quantity of 1,000,000,000, in order to provide investors with transaction certainty and the utility of MCAN COIN as a digital currency based on the potential of the medical marijuana market, which is now in line with global trends and is growing rapidly. Thus, 600,000,000 out of 1,000,000,000 MCAN COIN remained in use for a period of 2 years, of which 11,687,454 MCAN COIN is at the disposal of Black Pearl S.A. for the purpose of acquisition of other business entities and possible sale of MCAN COIN by Black Pearl S.A. to institutional investors.
The 400,000,000 MCAN COIN wallet will be unfrozen after a minimum period of two years – after informing the market in advance of this intention and subject to the minimum price of 1 MCAN COIN exceeding USD 10. Setting this threshold is related to the target – a permanent exceeding of the MCAN COIN stock market valuation set by Coinmarketcap as the target minimum market value.
As conclusion, after performing the above operations, the MCAN COIN „Maximum Supply” is at the level of 1,000,000,000, including the „Frozen Wallet” 400,000,000 and the „Circulating Supply” 600,000,000.
Information is essential and is of fundamental importance in the Issuer’s development strategy.