News

PMX Gold and Omnitech Automation working on gold-dispensing ATM prototype

July 18, 2011

PMX Gold LLC, a wholly owned subsidiary of PMX Communities Inc., confirmed today that it has teamed with Omnitech Automation Inc. to manufacture a gold ATM terminal designed to integrate with the international banking system, according to a company press release.

The agreement calls for a detailed prototype proposal to be delivered within 90 days from July 11. The proposal is to include final mechanical design, completed dispenser software development, estimated costs and lead-time estimates for the manufacturer of the first prototype.

Omnitech is currently evaluating the selection of a large, reputable, established ATM manufacturer with a market leader position willing to customize their equipment to accommodate the PMX gold dispensing and deposit hardware already developed.

PMX and Omnitech hope to announce the manufacturing partner within the next 8 weeks or sooner.

"The PMX Gold ATM Terminal is not a vending machine, but an actual ATM that allows customers to make conventional dollar-based ATM transactions with their banking institution and also conduct a wide array of gold financial transactions through their PMX Managed Gold Bullion Account, including depositing or withdrawing serialized 999.9 Fine Suisse Gold, Silver and Platinum Bars directly to or from our ATMs," said Michael Hiler, PMX's president and CEO.