In the space of a handful of months, Diamond Lake Minerals, Inc. (OTC: DLMI) has transformed itself from a little-known penny stock with a legacy in Canadian mineral claims to a noteworthy new addition to the digital asset investment sector.
Diamond Lake’s OTC-traded share price has been noteworthy too: It’s more than 10 times higher year to date, with a few weeks in hand to boot.
It’s safe to say that this year has been one of positive upheaval for Diamond Lake Minerals, but what’s happening under the hood to make it so?
In with the new
Following a many years-long journey, company president Michael Reynolds found a hero to lead the company’s exciting new vision with the hiring of new chief executive Brian J. Esposito.
As part of chief executive Brian J. Esposito’s vision for the group, he has recruited what he called an “arsenal of incredible iconic advisors”.
Among these advisors are recognisable names in the finance and investment world, not least Anthony Scaramucci.
He’s perhaps best known for his tumultuous, short-lived stint as the White House communications director under Donald Trump, but Scaramucci also founded and led SkyBridge, a global alternative investment firm and is founder and chairman of SALT, a globally renowned thought leadership forum and venture studio.
Other notable names on the advisory board include former BlackRock executive Agnes Budzyn, managing partner of blockchain firm Bluedge Ventures, and E! TV Founder Larry Namer.
But Esposito is the star of the show, a seasoned commercial strategist across a multitude of sectors, from brands and entertainment to technology and Web3.
This experience will benefit Diamond Lake Minerals as it seeks to extend its tentacles into these lucrative sectors.
Bridging traditional and digital investing
Esposito brings a unique wedge of expertise to Diamond’s new vision as an investment firm in the form of security tokenisation.
Before you ask. No, these are not cryptocurrencies or NFTs. They are, as Esposito punctuated, “registered SEC digital securities” that can be offered in the cutting-edge digital marketplace.
Diamond Lake Minerals will be facilitating these security token offerings through its partnership with digital asset trading platform INX, allowing each of Diamond’s subsidiaries to have a security token in the market.
“That opens up a couple of things,” said Esposito, explaining: “It gives traditional investors the opportunities to actually be in this market. These are the wealth of the world that don’t believe in things like crypto, digital assets or NFTs… They don’t know how to get involved and they’re intimidated by the process, but they know how to buy a stock.
“We want to be that stock that they hold in their portfolio to say that they’re supporting that industry and that they’re investing into that space.”
Having a security token offering in the market also opens Diamond Lake Minerals to new avenues of capital raising for its holdings.
In many ways, Esposito’s vision reflects broader trends in the world of digital asset investing.
With giants like BlackRock and Fidelity fighting tooth and nail to get bitcoin-based exchange-traded products onto the US stock market, the world of decentralised finance could soon see far more traditional investors rushing into the space.
Unfortunately, they have yet to convince the SEC that their plans are worthy. Thankfully, innovators like Diamond Lake Minerals are proving how the old school and new school can easily work together for the benefit of investors.