ICO’s are a term that we are seeing growing in popularity right before our eyes; businesses are using ICO’s with new ventures as a method of fundraising, which also includes businesses in the legal American marijuana market. Büber Technologies, a software-as-a-service provider has recently announced its upcoming token sale will use the Simple Agreement for Future Tokens (SAFT) structure accompanied under the United States Securities Act that recognizes token buyers as investors.
The düber token (DBR) is also part of the Ethereum (ETH) blockchain cryptocurrency that can be used within the network to buy goods and services provided by licensed pot businesses.
“At düber, we believe that we have the unique opportunity to transform the cannabis industry through incentivizing the creation and sharing of information, which benefits all patients, consumers and businesses,” stated Glenn Ballman, founder of düber. “We have chosen the SAFT ICO structure, and combined it with a broad-based seeding program to enable a wide distribution of the tokens to members of the cannabis community.”
Previously during the dot-com bubble Ballman founded Onvia, a company that currently trades on the Nasdaq exchange and led it through a $240 million IPO – valuing it a $6 billion business. The company provides companies an online database of US government procurement opportunities, is still operating today and is currently worth approximately $65 million by market cap.
The news of this new ICO comes on the heels of düber announcing it has agreed to sign a $50 million dollar funding agreement with Vacone Real Estate for the acquisition. The agreement will build out and master lease for 15 marijuana distribution centers throughout California, Washington, Oregon, Nevada and Arizona. The deal also allows Düber to expand operations to 400,000 square feet of distribution space.
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