Millennium Land Ltd. has recently launched CrownReserve, a desktop and mobile software application we have conceptualized. Similar to the how you might make a reservation for a restaurant or a flight, with CrownReserve you can securely and instantly reserve one of Millennium Land’s confidential corporate names for use in bidding at one of the upcoming Alberta or Saskatchewan Crown Land Sales. Millennium Land has a total of nine (9) active names registered on ETS and IRIS with the ability to increase that quantity to make sure confidential clients are always able to reserve on an active parcel. CrownReserve uses a random generator to issue reserved names so that no information is provided to the market on bidding activity. For example, in the old way of reserving confidential corporate names, if a specific name had been reserved for a particular parcel and another client requested that same name, the new reservation request had to be refused and another name suggested – the new client would now know that there was bidding activity on that parcel. Not the end of the world, but it is contrary to the closed auction electronic bidding system which is intended for bids to be made without any market activity information (as would be the case in a live auction scenario).
Confidentiality is always important – but, depending on the sale, it can be important in varying degrees. One concept that always applies is that acquiring mineral rights is strategic… the amounts paid are driven by the technical team’s views on the potential value that underlies the parcel and the bid value conveys ‘on record’ a lot of information to the market, albeit nuanced. Our confidential clients do not want their operating name associated with a bid strategy or structure, parcel, or area, they prefer to remain confidential and not reveal any corporate strategy or positioning.
We are proud of our team’s innovation in bringing this concept to life and are excited to offer this simple and secure tool to our clientele.
For confidential parcel reservations, go to MLand.ca or direct on your desktop at: https://crownreserve.mland.ca
Available on The App Store or get it on Google Play.
For more information please contact:
Jeff Rideout, P. Land
Vice President, Mineral Land Services
D: 587.323.2161
E: jeff@mland.ca