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Meet the Small Cap Company Aiming to Capitalize on the Commodities Boom with a Game Changing Blockchain Platform Called ElectrumX!

Cover Technologies Inc. (CSE: COVE) (OTC: MGPRF) is the newest player taking the rising Blockchain space by storm and is developing a game-changing blockchain-based platform positioned to increase value across the commodity supply chain!

Canada (CSE: COVE)
U.S. (OTC: MGPRF)

September 22, 2021
Cover Technologies Begins Development of ElectrumX Metals Spot Market Under Leadership of New CTO Steven Dryall

Cover Technologies Inc.’s current business is the development of a technology to process magnesium from tailings in an environmentally and sustainable manner. Leveraging its business in the commodities sector and its recent acquisition of a blockchain technology, the company is planning to integrate its newest technology acquisition to expand the scope of its business in the commodities space.

2021 has proven that the BOOM times are back for the commodities market and Cover Technologies Inc. has identified a lucrative and exciting opportunity within the space.

Utilizing innovative blockchain technology, the company is setting out to make the commodities markets a lot more efficient and be involved in multiple levels in the commodities supply chain.

The Bloomberg Commodity index has impressively rebounded to levels NOT seen since 2015!

With buoyant economic growth in both the U.S. and China increasing the demand for commodities, small-cap company Cover Technologies Inc. (CSE: COVE) (OTC: MGPRF) may be one of the most compelling ground-floor situations unfolding on right now!

“We are facing a structural inflation shock. There’s a lot of pent up demand, and everyone wants everything now, right now.”

– Doug King of Merchant Commodity Fund

Imagine a platform that could make trading commodities simpler, cheaper, and more transparent.

Well, imagine no further because that is what Canadian-based Cover Technologies Inc. (CSE: COVE) (OTC: MGPRF) is creating and is expecting to launch it in Q2 of 2022!

With the commodities market back on its feet, Cover Technologies Inc. (CSE: COVE) (OTC: MGPRF) has commenced development of ElectrumX to complement its mangnesium extraction technology.

ElectrumX is a blockchain-based platform for tracking and transacting commodity minerals with features to include a spot market and integrations with third-party decentralized finance (“DeFi”) solutions!

The development and launch of ElectrumX is being led by blockchain and digital currency visionary Steven Dryall, who was appointed Chief Technology Officer (“CTO”) of the Company.

Recognized by the Royal Canadian Mint as a contributor to the evolution of currency and as an established legacy in areas of fintech to include blockchain, crypto, and digitized commodities, Mr. Dryall is instrumental to the development of ElectrumX as well as the management of the company’s existing technologies!

“I have long been a supporter of blockchain technologies as well as an enthusiastic contributor to their many potential use cases. Markets for minerals such as magnesium can benefit significantly from digitization through blockchain-based technologies such as ElectrumX, and I believe that with the collective acumen of our management team in fintech, commodities, and blockchain, we can bring significant value to the commodities space this way.”

–       Steven Dryall

TOP Reasons to Have Cover Technologies Inc. on Your Radar:

  1. The company is taking advantage of the red-hot blockchain space which appears to be still in its infancy but gaining major speed!
  2. With innovative technology to serve and assist the BULLish resource minerals market, the company may about to catapult to recognition!
  3. The development of ElectrumX is in good hands as newly appointed CTO Steven Dryall has held founding or executive roles in firms to include Confluent Technologies, Nikola Tesla Unite, and Incipient Industries!
  4. The very recent acquisition of Flurbo Technology from Nifty Technologies (September 15th, 2021), complements the company’s current business of developing a technology to process magnesium from tailings in an environmentally and sustainable manner!
  5. The rapidly growing adoption of electric vehicles and increasing support initiatives by government of various countries are key factors driving market revenue growth for magnesium. The global magnesium alloys market size is expected to reach USD 4,254.9 Million in 2028, and register a CAGR of 11.8% during the forecast period!

Make Sure to Keep on Reading to See Why Small-Cap Company Cover Technologies Inc. (CSE: COVE) (OTC: MGPRF) Could Emerge as the Next Big Winner in the Commodities Sector and Blockchain Race!

Greetings Investors,

You’ve heard about digital assets, but did you know that the technology behind digital assets is an even BIGGER story?

It’s called blockchain and it is changing the way people and businesses think.

The “blocks” in blockchain are chunks of data stored together. When a block is filled, it is “chained” to a new block, building a timeline of data that makes the information in the blockchain secure.

What this all means is that digital records (which are useful for companies involved in industries such as banking, health care, supply chain management and more) are safer.

The blockchain market has been one of the biggest stories of 2021… and a thrilling one at that!

It should come as no wonder that Investors across the world are wondering how to get in on the action with this new, potentially game-changing technology.

Combining the innovativeness of blockchain with the importance of the commodities markets is what could make Cover Technologies stand out from the crowd!

The magnitude of Cover Technologies Inc. (CSE: COVE) (OTC: MGPRF)’s ElectrumX platform should not be dismissed….

Stakeholders throughout the mineral supply chain (e.g., miners, processors, refiners, etc.) will all have the ability to seamlessly enter provenance data, recorded on an immutable distributed ledger (blockchain) to enhance visibility into the origins of a given unit/allotment of minerals, as well as the sourcing practices used to obtain it!

This data will be accessible on the ElectrumX spot market and can be used as criteria for placing trade orders (e.g., a market order for magnesium produced specifically in a given region, or by an artisanal miner whose sourcing practices have been verified as sustainable).

Users of the ElectrumX spot market will also have the ability to trade various minerals represented through digitized cryptographic instruments with near-instant delivery!

The ElectrumX spot market additionally will offer several advantages compared to incumbent spot markets for mineral commodities to include lower fees, faster transaction speeds, and greater visibility into the minerals being transacted with the ability to automatically filter transactions or searches based on verified provenance data.

The Commodities Boom

Global commodity markets have recorded a broad-based upswing in the last year. Domestic factors such as increased export demand, pent-up domestic demand and commodity-specific demand–supply imbalances are all helping to drive up prices.

From steel and copper to corn and lumber, commodities began 2021 with a bang and have skyrocketed to levels not seen for years!

“The most important drivers supporting commodity prices are the global economic recovery and acceleration in the reopening phase,” said Giovanni Staunovo, commodity analyst at UBS Group AG.

The bank expects commodities as a whole to rise about 10% in the next year!

The future for commodities mining is looking pretty BULLish, especially as President Joe Biden’s multi-trillion dollar infrastructure plan supports investments in roads, water, electricity, broadband internet and other physical infrastructure projects. These projects will require a lot of minerals and metals.

Plus, inflation expectations priced into the US bond market have climbed to their highest level in eight years and bond investors now expect inflation will run at an annualized 2.4 per cent over the next 10 years!

Why is this significant? Because commodities prices typically rise when inflation is accelerating…

It was only last year when the World Economic Forum recognized the opportunities for blockchain to bring value to players in mining and metals after releasing a proof of concept for emissions tracing that same year.

“There is an increasing demand for metals and minerals, and an increasing demand for sustainable and responsible and traceable supply chains,” said Jörgen Sandström, Head of Mining and Metals Industry, World Economic Forum.

For DeFi solutions which handle or facilitate transactions of minerals, it will be possible to integrate data feeds from ElectrumX to allow mineral traders and investors to benefit from in-depth insights collected and held by ElectrumX!

Bringing DeFi to the Minerals Mining Market

By cutting out paper, improving tracking and allowing data sharing, blockchain is set to revolutionize mining forever!

Here are just some ways that blockchain could help the mining market:

Fewer paper exchanges – Trade in minerals and metals is a paper heavy process and blockchain can minimize this.

Faster transactions and broad adoptability – A synchronized nature of blockchain will allow ecosystem participants to be notified of trade developments at the same time. Synchronicity and faster consensus can provide less disputes and more straightforward resolutions.

Compliance – Mining and metals companies must remain up-to-date and any ethical issues need to be addressed. Blockchain can be leveraged to develop applications that address compliance, transparency and accountability.

Sustainability – Blockchain can be used to create comprehensive end-to-end tracking of ores and minerals. This can help ensure that minerals are purchased from complaint and conflict-free regions. 

Minerals such as magnesium can benefit significantly from digitization through blockchain-based technologies.

Magnesium is used in super-strong, lightweight materials and alloys. The market for this mineral is fast growing!

Worldwide use of magnesium and its alloys has increased significantly in recent years. Global demand in all sectors using magnesium is expected to grow by about 7% per year over the next decade! (IMA, Future Market Insights)

Both the aerospace and automotive industries rely on magnesium and represent massive markets for it!

A report by the United States Automotive Materials Partnership shows that 250 lbs of magnesium can replace 500 lbs of steel, and 90 lbs of magnesium can replace 130 lbs of aluminum, per vehicle, resulting in a 15% weight reduction.

What is Helping Cover Technologies Inc. (CSE: COVE) (OTC: MGPRF) Offer Such a Game Changing Platform for the Spot Market?

THE ACQUISITION OF FLURBO FROM NIFTY TECHNOLOGIES!

It was in September of 2021 that the company closed the acquisition of Flurbo, a decentralized finance (“DeFi“) blockchain technology software application designed to facilitate tracking, trading, transacting, and borrowing against digital assets, in a secured and transparent manner (“Flurbo”). The acquisition of Flurbo was previously announced on May 19, 2021, and August 19, 2021.

Cover Technologies Inc. views the asset acquisition of this blockchain technology as a complement to its current business of developing a technology to process magnesium from tailings in an environmentally and sustainable manner!

The acquisition of Flurbo will provide the Company with the technology to vertically integrate the various levels of the resource sector from initial production to processing, and then up the supply chain, logistics, and finance.

The company’s acquisition of Flurbo is an opportunity to aggregate all participants and transactions at all levels in the resources industry by providing one trusted and transparent digital solution!

Flurbo will provide resource producers the ability to capture mineral production statistics to help streamline logistics and financing, and facilitate provenance tracking. The Flurbo solution may also be used by a wide variety of participants including producers, purchasers, financial institutions, financiers, streamers, logistics companies, and assayers.

FLURBO

Flurbo takes the “technical mumbo jumbo” out of making informed decisions in crypto asset investing.

For institutional investors who seek to invest crypto assets for passive returns with mitigated risks, Flurbo systematically identifies opportunities that best suit each investor’s risk tolerance profile.

Flurbo offers turnkey staking solutions and leverages artificial intelligence to locate lending, trading, and DeFi (“decentralized finance”) opportunities according to a client’s criteria.

Just as travelers can appreciate the simplicity of the latter, institutional crypto investors will be able to appreciate the simplicity of Flurbo’s “plug and play” recommendation engine which can lead them to investment and trading ideas that match their criteria.

Flurbo: DeFi Crypto Investing for Non-Crypto Minds

So, you’ve heard of decentralized finance (“DeFi”)… but you don’t necessarily know what it means.

Here is an overview of DeFi and why it has grown to a USD $50 billion investment category as of February 2021! (The information below can be read at: Flurbo Executive Summary)

The persisting obstacle to mainstream adoption of cryptocurrencies as an investment is the sheer complexity of transacting crypto assets compared to traditional asset types.

For novice investors who choose to attempt trading by themselves, unfamiliarity with markets and exchanges can be costly… particularly if the investor does not have the patience to explore the full range of options before making a trade.

While assistance from a broker or intermediary could mitigate this hazard, such services can incur expensive fees or commissions.

Flurbo has created a DeFi aggregator engine which determines the optimal path of a DeFi token trade using an artificial intelligence mechanism!

Users enter their desired goal (e.g., borrow 100 Example Token) into a user interface similar to that of Google Flights, and Flurbo will identify the ideal route to make the transaction efficiently in terms of both time and cost.

As a non-custodial service, clients retain control over their crypto at all times, and will have the option to link Flurbo’s smart contracts to their wallet to complete trades.

Full-Service Staking Infrastructure

Flurbo offers a “Stake and Take” model with managed server hardware. Simply “Stake” your crypto, and “Take” your earned yield.

Keep Calm and Retain Custody

Peace of mind is much more valuable than any rate of return. Flurbo is completely non-custodial, keeping you in full control of your crypto assets.

Best DeFi? Just “Flurbo It”!

Do you prefer Google Flights over searching with individual airlines? You are not alone. Flurbo takes a similar “optimal path to end goal” approach to identifying DeFi opportunities.

Managed Assets

Industry leading you can stake and earn interest.

 

Why is the FLURBO Acquisition So Important?

The acquisition of Flurbo will provide the Company with the technology to vertically integrate the various levels of the resource sector from initial production to processing, and then up the supply chain, logistics, and finance.

Flurbo is an opportunity to aggregate all participants and transactions at all levels in the resources industry by providing one trusted and transparent digital solution. It will also provide resource producers the ability to capture mineral production statistics to help streamline logistics and financing, and facilitate provenance tracking.

The Flurbo solution may be used by a wide variety of participants including producers, purchasers, financial institutions, financiers, streamers, logistics companies, and assayers.

Appointment of New CEO and Director

Cover Technologies Inc. (CSE: COVE; OTC: MGPRF) has announced that Mr. Dorian Banks has been appointed Chief Executive Officer, interim Chief Financial Officer and a Director of Cover.

The Bottom Line

 Cover Technologies Inc. (CSE: COVE; OTC: MGPRF) is aiming to remove the technical “mumbo-jumbo” from Defi and Crypto all while building shareholder value!

The company is entering an industry at the right time… and their narrative is reading like an IPO story…

Blockchain… DeFi… Commodities… Sustainable Mining… Spot Market… These are some of the hottest buzz words on Wall Street and the company is engaged in all of them

Blockchain is set to be a fundamental part of business technology going forward and a big part of the minerals and mining commodities market.

Cover Technologies Inc. is developing ElectrumX RIGHT NOW and is set to launch the platform next year!

Reading about the company now is reading about something at the very early stages.

With an early mover advantage in the growing Blockchain space, small-cap company Cover Technologies Inc. (CSE: COVE; OTC: MGPRF) is one to keep your eyes on!

Start your research right away!

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INFLUENCER COMPENSATION

Pursuant to an agreement between TD Media LLC and Influencer, TD Media LLC has hired Influencer for a period beginning on 09/13/2021 and ending on 09/17/2021 to publicly disseminate information about (MGPRF:US) (COVE:CA) via digital communications. We have paid this Influencer one thousand dollars USD.

COMPENSATION

Pursuant to an agreement between TD Media LLC and Cover Technologies Inc., TD Media LLC has been hired for a period beginning on 10/04/2021 and ending on 11/02/2021 to publicly disseminate information about (MGPRF:US) (COVE:CA) via digital communications. We have been paid one hundred fifty thousand dollars USD via bank wire transfer.

OTC:MGPRF
CSE:COVE
Company Contact

Address: 810 - 789 West Pender Street Suite 600 Vancouver BC V6C 1H2 CA
Phone: +1 604 687-2038
Website: http://www.magoneproducts.com

What They Do

Cover Technologies Inc is a Canada based company operating in the magnesium products industry. The company’s principal business is the development and commercialization of technologies for the processing and production of magnesium metal and related compounds and byproducts and co-products from serpentinite tailings.