Security Matters (ASX: SMX) acquires stake in SMX Beverages JV

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Strong points

  • Security Matters Limited will be and Global BevCo Pty Ltd entered into a joint venture in 2020 for one company – SMX Beverages Pty Ltd.
  • SMX has now offered Global BevCo to acquire the remaining 50% of Global BevCo Unit Trust.
  • Security Matters mainly focuses on the digitization of physical objects on the blockchain.

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Limited security issues (ASX: SMX), a software company, announced Friday that it has offered Global BevCo to acquire the remaining 50% of a joint venture that currently features a 50/50 partnership between SMX and Global BevCo.

Global BevCo Pty Ltd and SMX had entered into a Joint venture Agreement dated February 10, 2020 for their 50/50 joint venture, SMX Beverages Pty Ltd.

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In accordance with the JV, SMX proposed to Global BevCo to acquire 50% of Global BevCo Unit Trust, under which-

  • SMX will make SMXB its subsidiary owned by the participation of Global BevCo Unit Trust in the transfer by SMXB of shares of Global BevCo Unit Trust.
  • SMX will appoint a new trustee for Global BevCo Unit Trust in accordance with the agreement.
  • The transaction also includes an offer of an advisory arrangement to Global BevCo, comprising a provision of AUD 13,500 per month and a 5% revenue share for referred clients where the fees and referral fees are payable in six months. delay.

About security issues

Security Matters primarily focuses on digitizing physical objects on the blockchain to enable a circular and closed-loop economy. He began to market his unique technology which uses a hidden chemical-based ‘barcode’ that permanently ‘marks’ any object using blockchain technology.

At the end of the line

This joint venture will likely bring invaluable business experience and networks to the SMXB joint venture. This will ensure continued profit for the business, as BevCo will further help SMX bring its patented circular economy technology to market.

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