COSIMO Venture Partners Signs Letter of Intent to Contribute Agentic Commerce Assets to Silver Scott Mines (OTC: SILS)
Proposed transaction would reposition SILS as Super Intelligence Ledger Systems, an agentic payments company built on
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WILMINGTON, Del. — October 20, 2026 — [KOREWIRE] — COSIMO Venture Partners LP (“COSIMO”) today announced that it has signed a non-binding letter of intent (“LOI”) with Silver Scott Mines, Inc. (OTC: SILS) (“Silver Scott” or “SILS”). Under the LOI, COSIMO would contribute its agentic commerce assets to SILS in exchange for newly issued voting convertible preferred stock. The parties intend to reposition SILS as Super Intelligence Ledger Systems, a company focused on aCommerce (agentic commerce) and on-chain payments.
If the transaction closes, COSIMO believes SILS would be one of a small number of publicly quoted companies focused on agentic commerce. aCommerce is an emerging market in which AI agents shop, negotiate and pay on behalf of people and businesses.
Independent research firms project the market to be large. McKinsey & Company estimates that agentic commerce could generate $3 trillion to $5 trillion in global revenue by 2030, including up to $1 trillion in U.S. retail (McKinsey via Digital Commerce 360). McKinsey also notes that this shift will test existing frameworks for identity, fraud prevention and data privacy.
In a recent analysis, a16z crypto argued that AI agents will need verifiable credentials showing whom they represent and what they are authorized to do, a framework it calls Know Your Agent (a16z crypto). SILS is being designed to supply that identity and settlement layer.
Under the LOI, COSIMO would contribute its agentic commerce intellectual property. This includes business plans, operational know-how, concepts, investor materials and related agentic commerce software, systems and development work. Rob Frasca and Ciaran Hynes, co-managing partners of COSIMO, would each enter into a personal services agreement with SILS.
In exchange, SILS would issue voting convertible preferred stock to the sellers. As a result, COSIMO would become a significant shareholder of SILS. SILS would retain its existing liabilities. The sellers would assume none of them, and SILS would assume none of the sellers’ liabilities.
The LOI is non-binding. Completion depends on definitive agreements, approval by the SILS board of directors, any required regulatory and shareholder approvals, and other customary closing conditions. The parties target closing within approximately 30 days. There is no assurance that the transaction will close on these terms or at all.
Super Intelligence Ledger Systems is being designed as an agent commerce system. It would provision verified identities through Revolution Name Service (“RNS”), assign AI agents to those identities, and settle agent payments on chain. Revolution Network, a zero-knowledge Layer 2 blockchain, would serve as the primary settlement layer.
SILS plans to operate a Revolution Network node and to stake its existing REVO holdings to that node. This continues a strategy SILS adopted before the LOI. The planned revenue model combines prepaid usage credits with transaction fees at settlement. The transaction does not include the purchase of any Revolution Network or RNS technology.
At closing, Rob Frasca and Ciaran Hynes would join the SILS board of directors. Wes Holland would remain a director. Until closing, current SILS management remains in place and continues to operate the company.
“Agents are starting to buy, sell and settle on behalf of people and businesses,” said Rob Frasca, Managing Partner and Co-Founder of COSIMO. “That shift needs verified identity and reliable settlement. SILS gives us a public company platform to build that infrastructure in the open.”
“COSIMO has worked on agentic commerce and digital identity for several years,” said Ciaran Hynes, Co-Managing Partner of COSIMO. “This LOI is the first step in moving that work into SILS. We look forward to completing definitive agreements with the Silver Scott board.”
More information on the proposed strategy is available at sils.solutions.
Related Party Disclosure
COSIMO holds a majority interest in Oneiro N.A., Inc., which develops Revolution Network. COSIMO and its affiliates may also provide services to SILS. Any related party arrangements would be disclosed and approved as required before closing.
About COSIMO Venture Partners
COSIMO Venture Partners, also known as COSIMO Digital, is a venture firm focused on AI, agentic commerce, digital assets and Web3 infrastructure. The firm is led by Managing Partners Rob Frasca and Ciaran Hynes. Rob Frasca is a former U.S. Naval aviator and combat veteran with more than 30 years of technology leadership. His ventures have had exits to Intuit, Lycos, Nielsen, Unity and Tapjoy, and he has raised more than $500 million in capital across ventures. More information is available at cosimodigital.com.
About Silver Scott Mines, Inc.
Silver Scott Mines, Inc. (OTC: SILS) is a Nevada corporation incorporated in 2004. Its common stock is quoted on the OTCID Basic Market operated by OTC Markets Group and the Company reports under the Alternative Reporting Standard. The Company is not an SEC reporting company. Under the SILS brand, an abbreviation of Super Intelligence Ledger Systems, the Company intends to build and operate infrastructure for commerce conducted by AI agents, settling on Revolution Network and other public blockchains. More information is available at sils.solutions.
About Revolution Network
Revolution Network is a zero-knowledge Layer 2 blockchain secured by Ethereum. It is built for digital ownership and identity. The network provides programmable staking, onchain identity through Revolution Name Service, compliant tokenization of real-world assets, and a trust and settlement layer for agentic commerce. The upcoming Revolution V2 adds validity proofs settled to Ethereum and a verified identity stack for AI agents. Learn more at revolutionnetwork.io.
Forward-Looking Statements
This press release contains forward-looking statements. These include statements about the proposed transaction, its timing, the planned business of SILS, its node operations, its revenue model and its board composition. Words such as “would,” “plans,” “intends,” “targets” and “expects” identify these statements. They are based on current expectations and are subject to risks and uncertainties. Actual results may differ materially.
Risks include failure to sign definitive agreements, failure to obtain required approvals, failure to satisfy closing conditions, the ability of SILS to raise capital, market acceptance of agentic commerce, technology and regulatory developments affecting blockchain networks, and other risks described in SILS’s public disclosures. COSIMO undertakes no obligation to update these statements except as required by law.
This press release is for information only. It is not an offer to sell or a solicitation of an offer to buy any securities.
Contacts
COSIMO Venture Partners Media: amanda@cosimodigital.com
Silver Scott Mines, Inc. Investor Relations ir@sils.solutions
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