Black Pearl S.A. - the owner of the MCAN COIN cryptocurrency wallet listed on cryptocurrency exchanges such as Latoken, P2PB2B, CoinTiger, DigiFinex, QB Exchange and Coinsbit - in accordance with the development strategy aimed at dynamically strengthening the business activity in the area of the acquisition of companies, and thus an increase in the value of the Company's assets, has taken the steps leading to burning of 80% of the existing MCAN COIN in the Maximum Supply and reduce the available quantity of MCAN COIN from 5,000,000,000 to 1,000,000,000.
The Supervisory Board of the Company issued, in the form of a resolution adopted on July 15, 2021, consent to:
Locking 4,000,000,000 MCAN COIN for the purpose of their so-called "Burning" – it means permanent exclusion from circulation.
After the operation, there will be a visible change in the history of the currency chain and a change in the number of available MCAN COIN. The stock of mined / issued coins will be permanently limited to the maximum quantity available ("Maximum Supply") of 1,000,000,000 MCAN COIN.Freezing by Black Pearl S.A. from a new reduced amount of 1,000,000,000 a further amount of 400,000,000 MCAN COIN 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 grows exponentially over time. Thus, to leave in use, for a period of 2 years, the total quantity in trade of 600,000,000 MCAN COIN, of which only 11,687,454 MCAN COIN will be at the disposal of Black Pearl S.A., intended solely for the purpose of acquisition of business entities and possible sale by Black Pearl S.A.
The 400,000,000 MCAN COIN wallet will be unfrozen after a minimum of two years - with prior notice and subject to the USD 10 threshold being reached at Coinmarketcap and permanently exceeding this MCAN COIN stock market valuation as the target minimum market value.
As conclusion, after performing the above operations, the MCAN COIN "Maximum Supply" will amount to 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.
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