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Newnote Retained to Develop Worlds First Net Smelter Return Silver Backed Crypto-Currency

Posted by AGORACOM-JC at 9:06 AM on Thursday, July 17th, 2014

Vancouver, British Columbia – Newnote Financial Corp. (the “Company” or “Newnote”) (CSE: NEU; FSE: 1W4) is pleased to announce it has been retained by Silver Phoenix Resources Inc. (CSE: SP) to develop the worlds first Net Smelter Return (NSR) backed crypto-currency.

Net Smelter Return (NSR) is the net revenue (total revenue minus production costs) that the owner of a mining property receives from the sale of the mine’s metal/non metal products less transportation and refining costs. As a royalty it refers to the fraction of net smelter return that a mine operator is obligated to pay the owner of the royalty agreement. The royalty is paid in variable or fixed payments based on sales revenue received by a mining operator in return for mining output. It is contingent only on the sales price and quantity of product sold.

The new digital currency going by the name of “Silverbits” will be represented by the Net Smelter Return against Silver Phoenix’s River Jordan Property for 5 millions ounces of silver. Silver Phoenix will pre-mine 20,000,000 Silverbits which will be released for sale over 3 to 4 years as funds are needed for exploration and acquisitions. The Silverbits would be redeemable from Silver Phoenix once production started; however, there would be no guarantee the property would go into production.

William Murray, Silver Phoenix President & CEO states: “It is time the mining sector started looking at other alternatives for raising funds. One of which would be to monetize their deposits and bypass the banks. Forced hedging by the banks is an example of how they keep the metal prices down. Crypto-currencies could be one way investors benefit directly.”

Paul Dickson, President and CEO states: “Junior exploration companies are facing difficult times in raising capital to further explore their properties. Silver Phoenix’s forward thinking is an excellent example of how technology and innovation can be utilized in traditional business sectors to improve access to capital.”

As one of the leaders in the crypto-currency sector, Newnote specializes in the custom development of virtual currencies based on the criteria and specific needs of its clients. Newnote can be retained to develop new digital currencies which include a full range of utilities such as Linux, Windows, Mac OSX and Android Wallets and Block Chain ledger for tracking transactions. Newnote offers complete end-to-end consulting, development, deployment and maintenance of the client’s new digital currency as well as a listing on our proprietary trading platform “Puretrade” if requested.

About Silver Phoenix Resources Inc.

Silver Phoenix Resources Inc. is a Project Generator. The company’s goals are to acquire properties of merit in safe jurisdictions that can be improved on and to secure partners with the expertise to develop them to production. Their objective is to retain an interest that could be sold for cash and retain a royalty – resulting in minimized share dilution for shareholders.

About Newnote Financial Corp.

Newnote Financial Corp. is pioneering innovative crypto-currency and Bitcoin related software products and services geared at the growing business segment of this bourgeoning market. Newnote has positioned itself to be a leading contender in delivering opportunities to startup businesses world-wide and continues to create new opportunities for its clients and its shareholders. Newnote has a clear vision on the direction in which this new and unique business is headed and is continually adjusting and adopting new business practices in both technology and the policies & procedures required by banks and securities regulators.

For further information please contact:

Paul Dickson

President, CEO & Director

Newnote Financial Corp.

Suite 709-700 West Pender Street

Vancouver, BC V6C 1G8

direct: 604-229-0480

fax: 604-685-3833


Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Newnote Financial Corp. The forward-looking information is based on certain key expectations and assumptions made by the company’s management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

The CSE has not reviewed, approved or disapproved the content of this press release.