Tinaga Resorts Launches Beach Resort backed Securitized Token Offering
Manila, November 9, 2020 (ACCESSWIRE) – Tinaga Resorts Corp (TRC) today announced that it has issued a Securitized Token Offering “STO” to raise $10.60 million for the development of a 5 star beach resort. Tokens go on sale on November 16, 2020 at www.tinagaislandresort.com.
This STO is the first such in the world involving a marquee beach resort. The beach was voted the #1 beach in Philippines by Price Waterhouse Coopers “PWC” and our lot is the best lot on beach. https://www.pwc.com/ph/en/gems/calaguas.html
The Tinaga Island Resort Token “TIRC”
Market Cap and Valuation:
The initial market cap is $19M. The land valuation is $8.40M. Our budget is $10.6M to build the resort. The asset will continually appreciate as we secure a 5-star resort hotel management company, a world renowned architect, and then build the resort. Your ownership via the TIRC token is pro-rata of this valuation.
Additional revenue returns will commence from December 2021 by the ‘off-plan’ private sales of the luxury villas. The first stage approximately 25 villas will generate approximately $12.5M. Second stage will be another $25M in sales. The net income from these sales will be shared pro-rata with token holders in 2023.
Driving Token Value:
From the outset, we will drive value in the token but revealing partners (architects, interior designers, etc.) adding exchanges, revealing the ‘green paper’, 5-star hotel management company and a host of other announcements.
The Tinaga Luxury Resort will begin operations in approximately December 2024. Once operational, the token will generate profit from the hotel operations.
Ownership in TIRC Tokens allows you to enjoy income from the villas sales and hotel operations. And the appreciating real estate asset as we secure hotel management, an architect, interior designers etc.
This digital security was issued on the Ravencoin Blockchain.
“We are thrilled to see the Tinaga Resorts TIRC digital security on the Ravencoin blockchain”, said Tron Black, lead developer of Ravencoin. “Tokenizing and trading private securities like TIRC will be the future model that will enable broader investor access, provide liquidity optionality, and reduce the cost of capital.”
We will start selling TIRC on November 16, 2020 on our website at $0.10 per token (50% discount). TIRC token sales (with limited pre-listing discount) will go on sale November 16, 2020 until the allocation of US$1 million is sold out.
TIRC intends to trade its token on the CryptoSX exchange in Q2, 2021.
CryptoSX is a fully licensed and regulated Digital Assets Exchange that allows issuers to tokenize and investors to buy and sell digital assets including assisting issuers to securitize assets, such as public company securities, real estate, art, antiques and other valuable assets. The Exchange recently integrated itself with Ravencoin to accommodate STO’s utilizing its blockchain. Along with its existing Ethereum platform, it intends to become fully compliant with the U.S. Securities and Exchange Commission and with FINRA. CryptoSX welcomes companies from around the world to securitize their assets, raise capital for business development and expansion and as a platform for secondary trading.
Ravencoin (RVN) is a decentralized peer-to-peer network designed to efficiently handle one specific function: the transfer of assets from one party to another. Built on a fork of the Bitcoin code, the proof-of-work Ravencoin platform was launched January 3rd, 2018 and is a truly open source project (no ICO, no pre-mine, no masternodes). It focuses on building a useful technology, with a strong and growing community.
With the empowerment of world-leading technologies, CryptoSX is building a cutting edge crypto exchange platform for STOs backed by Fiat/Crypto conversion capabilities. They are significantly involved in assisting companies in STO primary listings, STO secondary trading and to develop and launch a substantial decentralized finance “DeFi” business, including crypto lending. CryptoSX is compliant with all of the applicable financial and virtual exchange policies and regulations of the Philippine government under CEZA (Cagayan Economic Zone Authority). CryptoSX was awarded a Full Principal License by CEZA in 2018. Since then, CryptoSX has been working very closely with CEZA to further develop and enhance the STO listing procedures, compliance and reporting requirements. It is one of the very few exchanges that is operating with such a relevant license in Asia.
For more information on CryptoSX please visit: www.cryptosx.io
About Tinaga Resorts Corp.
Tinaga Resorts Corp “TRC” is a Philippine corporation implementing the latest environmental technology, combining green development with responsible eco-tourism and is exercising responsible stewardship over its natural environment. Tinaga island is a showcase of pristine clear blue water and unspoiled virgin white sand beaches. In recognition of a 100% green sustainable development, TRC strives to maintain a delicate balance between achieving tourism development goals and conserving the islands fragile environment.
TRC has incorporated the use of sustainable bamboo and coconut timber, along with concrete pillars and base in the construction of its villas and structures. Bamboo is a fast growing grass combining the hardness of a mild steel and the strength of concrete. The resort’s energy needs are derived from 100% renewable sources: solar power and methane gas from a biomass converter. Solar hot water heaters are installed on each villa roof and a 100% biodegradable sewage system reuses recycled water for irrigation.
As one of the most stunning and undiscovered islands in the Philippines, Tinaga, has lovely stretches of virgin white sand beaches with crystal clear blue waters. The beach and surrounding waters are ideal for sunbathing, swimming, snorkeling, scuba diving, water skiing, sailing, and or fishing or just relaxing in a hammock by the pool.
Investors should note that trading digital securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity which could impact the price and ability to sell, and possible loss of principal invested. Further, an investment in single digital security could mean lack of diversification and, consequently, higher risk.
Please visit: www.tinagaislandresort.com
Please join our Telegram Community : t.me/tinagaislandresortchat
For Media and/or Investor Relations inquiries:
Email: [email protected]
Or Call Dennis Burns Tel +1 (567) 237-4132