SMX Secures Majority Stake in True Gold Consortium
Portfolio Pulse from Benzinga Newsdesk
Security Matters (SMX) has signed an agreement to acquire an additional 7.5% equity stake in True Gold Consortium, increasing its common share holdings to 51.9%. This acquisition is expected to benefit from SMX's traceability, verification, and certification technology.
October 10, 2023 | 9:31 am
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POSITIVE IMPACT
SMX's acquisition of a majority stake in True Gold Consortium could strengthen its position in the market and potentially increase its revenues due to the application of its technology.
SMX's acquisition of a majority stake in True Gold Consortium indicates a strategic move to leverage its technology in a new sector. This could potentially lead to increased revenues and a stronger market position, positively impacting its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100