NEW YORK, May 11, 2018 (GLOBE NEWSWIRE) -- Prometheum, Inc., which proposes the only comprehensive route to a legal Initial Coin Offering (ICO), announced today that it has filed an amended Reg A+ Offering Statement for its own ICO, in which it seeks to raise $50M by selling warrants for its Ember tokens. Prometheum anticipates being the first U.S. issuer to sell warrants/tokens under Reg A+, qualified for public trading, fully compliant with the Federal Securities Laws. That means, unlike all other tokens issued to date, Prometheum warrants for Ember tokens will, when qualified by the SEC, be available to all investors (both accredited and non-accredited) and will be legally tradable in the secondary securities market in the United States.

In 2017, the SEC opined in its DAO report – and in subsequent regulatory releases, actions and comments – that all ICOs are essentially securities, thus making previous approaches to ICOs illegal. Traditionally, token issuers have sold directly to consumers without complying with relevant securities laws, rules and regulations. However, in February 2018, the SEC began issuing subpoenas to companies and advisors who have conducted ICOs outside the requirements of the Federal Securities Laws.  The tokens issued in those offerings, and the platforms they are traded on, could soon become illiquid.

Prometheum, founded by a group of seasoned Wall Street securities attorneys, has developed a platform that, when authorized by the SEC, will enable SEC-qualified free trading of ICO tokens to any type of investor. Its warrants/Ember tokens and smart contract-enabled blockchain form the underpinning for a comprehensive route to a soup-to-nuts securities ecosystem, from issuance to trading through clearing and settling.

“Issuing legal tokens via a Reg A+ filing is the first step in the process of creating a legal ICO trading platform,” said Aaron Kaplan, Co-founder and COO of Prometheum. “We have cracked the code on how to do this within the confines of Federal Securities Laws. Prometheum anticipates hosting its first ICOs for issuers in early 2019 once its tokens are approved for market issuance.”

The Prometheum team has been working for more than a year to construct its SEC-compliant ecosystem for ICOs – a complex task. Its founders are among the leading blockchain securities experts on Wall Street, with deep knowledge of the entire securities process.

Prometheum expects its Reg A+ warrants/tokens to be offered to the public in the third quarter of 2018.

Access Prometheum’s offering documents at the SEC web site at https://www.sec.gov/cgi-bin/browse-edgar?company=Prometheum&owner=exclude&action=getcompany. Learn more about Prometheum at www.prometheum.info.

About Prometheum
Prometheum, Inc. proposes the only comprehensive route to a legal Initial Coin Offering (ICO). Founded by a group of seasoned Wall Street securities attorneys, Prometheum is the first company to propose an SEC-qualified free trading ecosystem for Initial Coin Offering (ICO) of securitized tokens to any type of investor. Its proposed warrants/Ember tokens and smart contract-enabled blockchain form the underpinning for a comprehensive route to a soup-to-nuts securities ecosystem, from issuance to trading through clearing and settling. Prometheum anticipates hosting its first ICOs for issuers in early 2019. Learn more at www.prometheum.info.

Prometheum, Inc. Disclaimer
No money or consideration is being solicited by the information in this press release or any other communication and, if sent, money will not be accepted and will be promptly returned. No offer by a potential investor to buy our securities can be accepted and, if made, any such offer can be withdrawn before qualification of this offering by the SEC. A potential investor’s indication of interest does not create a commitment to purchase the securities we are offering. Any such indication of interest may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance is given and all other requirements to accept an investment from a potential investor are met after the offering qualification date.

The offering, after qualification by the SEC, will be made only by means of the Offering Circular. Any information in this press release or any other communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification for sale as provided in Regulation A+ in any such state or jurisdiction.

You may obtain a copy of the Preliminary Offering Circular and the offering statement in which such Preliminary Offering Circular was filed with the SEC by visiting: https://www.sec.gov/cgi-bin/browse-edgar?company=Prometheum&owner=exclude&action=getcompany

Media contact:
Michelle Faulkner
Big Swing Communications
+1 617-510-6998
michelle@big-swing.com

A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/b67cc447-bf9e-4f94-87e0-2b336f7ecadb