Silver Scott Mines Strengthens Digital Strategy Through Kanab.club MOU
Rhea-AI Summary
Silver Scott Mines (OTC PINK:SILS) has signed a Memorandum of Understanding (MOU) with Everest Networks to redevelop the Kanab.club social networking platform. The agreement includes transforming the platform into a mobile application, with SILS maintaining a significant ownership stake in the project.
While financial details remain undisclosed, the deal aligns with the company's dual-track growth strategy of developing software for clients while building value through digital initiatives. The development deal is expected to close by the end of September 2025.
Positive
- Company will maintain significant ownership stake in Kanab.club platform
- Strategic expansion into digital and social networking space
- Deal expected to close within one month
Negative
- Financial terms of the MOU not disclosed
- Project still in early MOU stage, not finalized
AI-generated analysis. How Rhea-AI works. Not financial advice.
Equity stake in redeveloped social platform expected to drive additional shareholder value
FRANKLIN, NJ / ACCESS Newswire / September 2, 2025 / Silver Scott Mines, Inc. (OTC PINK:SILS) (the "Company") today announced that it has signed a Memorandum of Understanding ("MOU") with Everest Networks to redevelop and expand Kanab.club , a social networking and lifestyle platform, including its transformation into a mobile application.
Under the terms of the MOU, financial details will not be disclosed. However, Silver Scott Mines will maintain a significant ownership interest in the project, allowing the Company to participate directly in the platform's long-term growth and success.
"This MOU underscores our strategy of using digital innovation as a complementary driver of shareholder value," said a Company spokesperson. "By working with Everest Marketing, we see an opportunity to revitalize Kanab.club into a more dynamic community platform while strengthening our digital portfolio alongside our healthcare tech platforms."
The finalized development deal is expected to close by the end of September.
Silver Scott Mines continues to execute a dual-track growth plan, advancing its software development projects for clients while building value through its own digital initiatives. The Company believes this approach provides shareholders with exposure to both traditional resource opportunities and emerging technology-driven platforms.
About Everest Networks, Inc.
Everest Networks, Inc. Is a Wyoming-based company established in 2019. It has successfully built and launched social media and networking technologies, including the Kanab.club.
About Silver Scott Mines, Inc.
Silver Scott Mines, Inc. (OTC PINK:SILS) is a diversified technology and software development company with interests in digital asset infrastructure, tokenized natural resources, fintech innovation and healthtech solutions. Through strategic development and acquisitions, the Company aims to build shareholder value across traditional and emerging sectors.
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Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially due to factors discussed in the Company's filings and other public disclosures. The Company undertakes no obligation to update any forward-looking statements, except as required by law.
CONTACT
Stuart Fine
CEO
Silver Scott Mines, Inc.
908-356-9852
SOURCE: Silver Scott Mines Inc
View the original press release on ACCESS Newswire