SAN FRANCISCO, CA, Dec. 03, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – APT Systems, Inc. (OTC Pink: APTY), a software development and fintech company, announced that it will move gold operations directly under APT which was further facilitated by the sale of its subsidiary, AUREX Trading and Recovery. This is part of an initiative to tighten corporate focus on its core business being its Verifundr escrow services and upcoming launch of its stablecoin, Spera.
"We are streamlining to maximize our attention on the Verifundr platform and our Spera stablecoin,” says Glenda Dowie, Founder and Chief Executive Officer of APT Systems, Inc. “We are moving to a dedicated gold metal managing operation inside of APT, to maintain our commitment for partial physical gold backing of Spera.”
APT Systems has agreed to sell AUREX Trading, its eScrap recovery subsidiary, to its previous operations manager. The sale is intended to allow APT to remain in close contact with the business going forward and for APT to directly maintain established relationships with the precious metal refining industry. All physical gold inventory currently held and that is in the process of being recovered over the next 90 days will be transferred to APT for eventual backing of the stablecoin.
“This move allows APT to experience the best of both worlds—all of the benefits of gold recovery while removing ourselves from the physical work of sorting tons of circuit boards and electronics in the daily operation of AUREX,” Dowie says.
Under the agreement, APT management will work closely with and continue to support AUREX operations over the next six months for a smooth transition.
“With the sale of AUREX, we remain proud of collecting valuable scrap materials which we were able to keep out of landfills,” Dowie says. “We urge interested organizations to contact AUREX to facilitate their recycling and refining needs.”
Dowie notes the move allows APTY to fully concentrate on its core product family of Verifundr escrow, supported by its Spera stablecoin. “The divestiture frees our human capital to focus entirely on Verifundr and Spera for now and to add Intuitrader in the future,” Dowie says. “This benefits our development efforts and our shareholders.”
APT Systems, Inc. is a software development and fintech company, focusing on escrow and payment services with a stablecoin named Spera partially backed with gold.
Visit www.connect.sperastablecoin.com to learn more about Spera, a stablecoin that we plan to partially back with gold and US dollars.
Be sure to follow us on Twitter @APTYsys for timely updates.
Disclaimer of Forward-Looking Statements: This press release contains statements that constitute "forward-looking statements." "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks. APT Systems, Inc (APTY) may opt to also disseminate information about itself, including the results of its operations and financial information, via social media platforms such as Facebook, LinkedIn, and Twitter.
Contact: Glenda Dowie, CEO at 415-200-1105
© 2021 GlobeNewswire, Inc. All Rights Reserved.