LAS VEGAS, NV–(Marketwired – January 10, 2018) – IEG Holdings Corporation (“IEG Holdings”) (OTCQB: IEGH) announced today that its wholly owned subsidiary, Investment Evolution Crypto, LLC (“Crypto”), is negotiating to purchase a gold project with gold metal in the ground and prospecting licenses. IEG Holdings plans to utilize a gold resource to investigate creating, through Crypto, and a joint venture with Investment Evolution Corporation, also a wholly owned subsidiary of IEG Holdings, its own gold metal-backed crypto/blockchain currency, and potentially offer loans and accept loan repayments in its own crypto/blockchain currency. Crypto has not begun material operations and is in the development planning stages to explore these crypto/blockchain opportunities in this time of changing technology. Prior to launching these plans, Crypto will investigate the legalities and economic risks and benefits of its plans. Any crypto currency offering will be registered with the Securities and Exchange Commission (“SEC”).
Paul Mathieson, IEG Holdings’ Chairman and Chief Executive Officer, said, “Unlike Bitcoin, Ripple, Ethereum and Litecoin etc., IEGH’s crypto currency is planned to be backed by gold metal and registered with the SEC as a security. We believe potentially combining the exciting new blockchain technology with the hard asset of gold metal, expected SEC registration, a leading sophisticated online consumer finance system and individual US state lending licenses is a very exciting proposition. In addition, we believe the future leaders of the crypto/blockchain sector will be companies that are materially compliant with all the existing and future related US government legislation. We aim for IEGH to leverage off its existing fintech business credentials, specifically its extensive experience in online consumer loans, to potentially be a key player in the crypto/blockchain sector.”
IEG Holdings is an SEC-reporting fintech public company that holds 20 individual state lending licenses and/or certificates of authority that has taken IEG Holdings nearly a decade to secure.
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Additional Information
This press release is provided for informational purposes only and does not constitute an offer to purchase or the solicitation of an offer to sell any securities. IEG Holdings has filed with the SEC a Registration Statement on Form S-4 and a Tender Offer Statement on Schedule TO containing a letter of transmittal and other documents relating to the tender offer. IEG Holdings or LendingClub Corporation will mail these documents without charge to LendingClub Corporation common stockholders. Investors and stockholders should read those filings carefully as they contain important information about the tender offer. These documents, as well as IEG Holdings’ other public filings with the SEC, may be obtained without charge at the SEC’s website at www.sec.gov and at IEG Holdings’ website at www.investmentevolution.com. The information contained on the SEC’s and IEG Holdings’ websites is not incorporated by reference in this press release and should not be considered to be a part of this press release. The letter of transmittal and related materials may also be obtained without charge by contacting Okapi Partners LLC, the information agent for the offer, at info@okapipartners.com or (855) 208-8903 (toll-free).
About IEG Holdings Corporation
IEG Holdings Corporation provides online $5,000 and $10,000 unsecured consumer loans under the brand name, “Mr. Amazing Loans”, via its website and online application portal at www.mramazingloans.com. IEG Holdings started its business and opened its first office in Las Vegas, Nevada in 2010 and currently offers $5,000 and $10,000 unsecured consumer loans that mature in five years. IEG Holdings is a direct lender with state licenses and/or certificates of authority in 20 states — Alabama, Arizona, California, Florida, Georgia, Illinois, Kentucky, Louisiana, Maryland, Missouri, Nevada, New Jersey, New Mexico, Ohio, Oregon, Pennsylvania, Texas, Utah, Virginia and Wisconsin. IEG Holdings provides loans to residents of these states through our online application portal, with all loans originated, processed and serviced out of our centralized Las Vegas head office.
For more information about IEG Holdings, visit www.investmentevolution.com.
