Entoro Capital to Purchase Blockchain-Based Data Storage Platform & Marketplace from Leonovus
OTTAWA — Leonovus has engaged Entoro Securities of Houston, Texas to act as the lead placement agent for the offer and sale of the Company’s digital security called GAAX, built on the Galaxa blockchain -based data storage platform and marketplace. Entoro is an investment bank and advisory group for digital securities.
“We believe this is an excellent opportunity for investors in the data center or related businesses as the Galaxa project will take cloud computing to the next level of service globally,” said James C. Row, CFA, Managing Partner of Entoro Capital. The project will be listed on Entoro’s proprietary offerings platform OfferBoard .
GAAX will be sold in the offering at two prices. The first $5,000,000 of GAAX will be sold at a price of $0.00075 each, with the remainder being sold at a price of $0.001 each. The minimum subscription amount will be $25,000. The Placement Agent will build a syndicate of broker dealers to raise a minimum of $10,000,000 and a maximum of $25,000,000 paid in USD, EUROS, Bitcoin (BTC) or Ethereum (ETH) on a best efforts basis.
The Galaxa blockchain platform incorporates the patented distributed storage and compute technology developed by Leonovus Inc. Galaxa will be the first blockchain-enabled, enterprise-class, Anything-as-a-Service (XaaS) distributed storage and compute marketplace. The Galaxa blockchain protocol will be powered by a native utility token. These utility tokens are separate from the investment digital securities named GAAX.
Annually, new GAAX will be created at the rate of 2% of the previous year’s total issued and outstanding digital securities. These new GAAX will be issued quarterly. 30% of these securities will be issued to current digital security holders and the balance will be issued to Leonovus Inc. to continuously fund the development of the marketplace.
GAAX is a Digital Security because the owners of the digital security will receive regular distributions most likely in the form of BTC or ETH. Because GAAX is a digital security, a Regulated Digital Security Exchange (“DSE”) is required to buy and sell GAAX if and when it becomes tradeable. At the beginning of 2019 there are Digital Security Exchanges being developed in Canada, the USA, Singapore, Hong Kong, Gibraltar, Switzerland, the Bahamas and Malta.
The Company has retained Securitize Inc. (“Securitize“) to provide hosted software as a service that enables the Company to prepare, facilitate, and manage the Offering (the “Portal“). Securitize provides the compliance platform that electronically qualifies GAAX investors. The Securitize DS Protocol provides end-to-end seamless token and investor management services for GAAX.