Tech Firm Offering New Gold Tokens Files CA$900M Shelf Prospectus

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Bitcoin ecosystem company Matador Technologies Inc. (MATA:TSX.V; MATAF:OTCQB) announced it has filed a preliminary short form base shelf prospectus to the securities regulators in all Canadian provinces except Quebec.

Upon regulatory approval, the final shelf prospectus will enable Matador to potentially issue up to CA$900 million worth of common shares, debt securities, warrants, subscription receipts, units, or a combination of these over a 25-month period.

Specific details of any such offerings will be provided in supplements to the final shelf prospectus, which will be filed with the Canadian securities regulatory authorities as needed.

The company said it believes the shelf prospectus will streamline the process of capital acquisition, allowing the company to effectively pursue avenues for future growth, strategic acquisitions, and the accumulation of bitcoin treasury assets.

"Filing the preliminary shelf prospectus is the next step in facilitating Matador's ability to raise capital as needed to support our long-term strategy," stated Deven Soni, Chief Executive Officer of Matador Technologies. "Our goal is to responsibly grow our bitcoin treasury and increase bitcoin per share over time, while continuing to build infrastructure aligned with the broader bitcoin ecosystem."

Mark Moss, chief visionary officer of Matador, added, "This filing supports Matador's ability to allocate capital toward bitcoin accumulation, infrastructure, and ecosystem development. We believe growing bitcoin per share is a clear, measurable way to align our operations with shareholder value in a bitcoin-native framework."

A copy of the preliminary shelf prospectus can be accessed under the company's profile on SEDAR+ and on Matador Technologies' website.

Real Gold Grammies

Earlier this month, Matador celebrated a major milestone when it announced the launch of its Digital Asset Platform, a groundbreaking initiative that merges the realms of precious metal art with cutting-edge blockchain technology.

The platform facilitates the creation of unique digital art pieces that can be permanently etched onto 1 gram of physical gold. This inaugural offering, dubbed "Grammies," consists of digital designs recorded on the Bitcoin blockchain, allowing collectors to own, imprint on gold, and digitally display these pieces. This innovative approach redefines the intersection of timeless art and modern technology. The Grammies are compatible with various Bitcoin-friendly wallets and can be converted into tangible gold items, enhancing their appeal and utility.

Each Grammie is meticulously crafted onto a gram of gold and delivered directly to collectors. The initial series features a limited edition of 1,000 unique artworks, created in collaboration with the renowned artist dxxmsdxy. Each artwork is algorithmically generated, complete with its own serial number and narrative, ensuring both its uniqueness and authenticity.

A Significant Milestone

With the current price of gold at approximately US$3,300 an ounce, this initiative opens new avenues for art collectors and precious metal enthusiasts seeking diverse investment opportunities. Each piece is uniquely documented on the Bitcoin blockchain, one of the most secure blockchains globally, underscoring the security and authenticity of these digital assets. Matador holds a significant amount of gold, securely stored and audited at the Royal Canadian Mint, as reflected in the company’s audited financial statements.

This launch marks a significant milestone for Matador, following its receipt of conditional approval from the TSX Venture Exchange to complete its previously announced change of business (COB). The COB transitions Matador to a hybrid technology/investment entity, allowing it to broaden its business model to include activities aligned with its investment strategy and TSX-V standards, such as the procurement and management of Bitcoin and investments in Bitcoin-related technologies and infrastructure.

"With conditional approval in place, we are one step closer to advancing our Bitcoin treasury strategy and supporting Bitcoin-native innovation globally, subject to final TSX-V approval," Chief Executive Officer Deven Soni said.

Matador also announced the purchase of an additional 8.4 Bitcoins for CA$1.2 million (US$878,763), bringing its total Bitcoin holdings to approximately 77 Bitcoins (and Bitcoin equivalents). This acquisition reinforces its strategy of diversifying its treasury with long-term reserve assets. The company maintains a debt-free status, with all Bitcoins (and Bitcoin equivalents) fully owned. Additionally, Matador retains cash reserves of about CA$5.3 million and possesses 2 kilograms of physical gold (valued at approximately CA$323,000).

The Catalyst: Tokenized Assets Gaining Traction

This year, the trading volume of tokenized gold has soared past US$19 billion, outperforming many renowned gold ETFs, David Marsanic reported for Crypto.news reported. Tokenized assets are gaining traction as a viable alternative to traditional investment vehicles. A recent report from CEX.io, dated July 8, reveals that tokenized gold is now more popular than several gold ETFs. This asset class has achieved US$19 billion in trading volume this year, surpassing many smaller gold ETFs, though it still trails behind major players like SPDR Gold Shares (GLD) and iShares Gold Trust (IAU). However, it has surpassed the trading volumes of SGOL, AAAU, IAUM, and OUNZ.

The increase in tokenized gold trading volume has significantly outpaced that of all gold ETFs this year. Specifically, in the second quarter of 2025, the trading volume for this asset class surged from US$2.4 billion to US$19.2 billion, marking an eightfold increase. This trend is part of a broader pattern where tokenized gold has consistently exceeded gold ETFs in trading volume growth for four consecutive quarters. According to the CEX.io report, this outstanding performance indicates a shift of capital from traditional gold ETFs to tokenized gold assets, as noted by Marsanic.

The report also points out that the rise in trading volume for tokenized gold is largely driven by retail and crypto-native investors, while institutional investors continue to primarily engage with traditional gold ETFs. Notably, the number of PAXG holders increased by 25%, and XAUT holders saw a 151% rise, indicating a significant influx of new traders into the market. 

Despite these developments, tokenized gold still trails behind ETFs in terms of market capitalization. For instance, while GLD’s total market cap grew by 36%, the market cap for tokenized gold only increased by 29%. This suggests that tokenized gold is not yet widely regarded as a long-term store of value; rather, most traders currently use it as a utility asset within the DeFi ecosystem.

Prominent analysts from institutions like Goldman Sachs and JPMorgan, along with other financial analysts on Wall Street, forecast that gold could reach the US$4,000 mark by mid-2026, as reported by Juan Carlos Arancibia for Investor's Business Daily.

Ownership and Share Structure

According to the company, 65% is owned by management and insiders, including Founder and Director Donato Sferra, Vice President of Finance Geoff St. Clair, Director Richard Murphy, Soni, a strategic investor (through UTXO Management, LLC and 210K Capital, LP), Director Tyler Evans (through UTXO Management, LLC and 210K Capital, LP), and Founder Trevor Koverko, among others. 

The rest, about 35%, is retail, and includes Hive Digital with 3%, Kitco Metals with 1%, and Gold Fields Ltd. with 4%, the company said.

It has about 105.94 million shares outstanding and has a market cap of CA$82.72 million. It trades in a 52-week range of CA$0.11 and CA$2.02.