Diamond Lake Minerals CEO Brian J. Esposito and Horizon Fintex CEO Brian Collins have announced a $3.75 million share exchange agreement between the two companies. This significant deal involves Horizon Fintex's regulated tokenized-securities exchange platform, Upstream.
According to the terms of the agreement, Horizon Fintex issued 1,250 common shares valued at $3,000 each in exchange for 1,000,000 newly issued common shares of Diamond Lake Minerals. The partnership is expected to be mutually beneficial, aiming to attract new issuers to list on Upstream. This move will potentially increase Upstream's trading liquidity and provide economic advantages to the shareholders of both companies. Notably, Upstream is distinguished as the only market offering investors direct exchange access to primary and dual-listed equities globally via smartphones.
Additionally, Diamond Lake Minerals has signed a Cooperation, Marketing, and Referral Agreement with a subsidiary of Horizon Fintex. This agreement appoints Diamond Lake Minerals as a commercial advisor responsible for introducing and referring issuers who wish to list on Upstream.
One standout feature of Upstream is its direct connection between investors and the exchange through the Upstream trading app, bypassing stockbroker middlemen. This allows investors to trade in real-time for 20 hours a day, five days a week. The platform also features streamlined onboarding and transparent order books where participants can view level-2 bids and offers. Furthermore, Upstream is designed to prevent market manipulation techniques such as short selling, stock lending, wash trades, and payment for order flow, leveraging Horizon Fintex's advanced Ethereum smart-contract technologies.
