AmaZix partners with Timeless Luxury Group on its security token offering for high-end properties and resorts

Swiss company Timeless Luxury Group, which specializes in luxury holiday villas, resorts and lifestyle products, has partnered up with AmaZix, a blockchain advisory firm which has worked on over 120 ICOs to introduce a new digital security offering or DSO.

The DSO will give holders of the token a 40% cut of the profits of the Timeless Hideaways and Timeless Resorts. Additionally, investors will receive 10% of all revenues of the other three divisions of the company – Timeless Yachts, Timeless Selection and a planned global franchise concept. As a bonus, holders of the tokens will also receive a discount of 20% on bookings of Timeless Hideaways or Timeless Resorts.

Timeless Selection

A securities offering for international and US accredited participants

Timeless has opened up its DSO to US accredited investors by using a US-registered broker dealer, TriPoint Global Equities, as well as the SEC-registered transfer agent, Vstock Transfer, for the issuance and custody of digital securities.

The ERC-20 tokens are exempted from SEC registration under the Securities Act using “Reg D 506(c)”  – Regulation D being a common exemption used by STOs and limits the US investors to only those that are accredited. With the SEC starting to pursue unregistered ICOs, it’s wise that ICOs and STOs do their homework here.

From concept to DSO

Timeless currently has two concept properties in Austria with plans to grow using the proceeds of the DSO.

Room with a view – Zell am See, one of Timeless’ Concept properties

Michael Gössl, founder and CEO of Timeless explains: “The business has been successfully demonstrated and proofed through the Austrian concept properties Wilder Kaiser and Zell am See. After analyzing and optimizing them, we expanded the scope and are developing a strong project pipeline. We have identified up to 41 potential new hideaway properties along with a planned resort and we are now seeking to raise capital of up to USD100 million through the DSO to acquire and develop these.”

“We believe we are on the starting ramp of a dynamic growth path and want to use funds from the DSO to grow Timeless together with our investors”, emphasized Gössl.

Advising Timeless is AmaZix, a leading provider of blockchain-related advisory and consulting across the globe.

Jonas Karlberg, CEO of AmaZix said: “Timeless is precisely the reason we at AmaZix love to work in this space – to get the chance to partner with such unique opportunities. The business model is as unique as the fundraising model in this case, with a compliant DSO being the vehicle. AmaZix believes in programmable, regulatory-compliant digital securities, and we are very pleased to be associated with one of the first to strike a path in this direction.”

 

The post AmaZix partners with Timeless Luxury Group on its security token offering for high-end properties and resorts appeared first on CryptoNewsReview.

Comments are closed.