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Coinsilium Group Limited (COIN)
Coinsilium Group Limited: STRATEGIC FINANCING
12-Dec-2018 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
12 December 2018
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
STRATEGIC FINANCING
Coinsilium Group Limited (NEX: COIN), the blockchain venture builder and
investor that finances and manages the development of early-stage blockchain
technology companies, is pleased to announce that it has raised GBP367,125
before expenses to fund the further growth and development of the Company.
Highlights:
? Strategic financing with GBP367,125 raised through the issue of
9,178,125 new ordinary shares of no par value ("Ordinary Shares") at 4.0p
per share.
? Financing undertaken at a 23.1% premium to the market close price on 11
December 2018, with a new strategic investor and a number of existing
shareholders;
? Each new Ordinary Share is accompanied by one warrant to subscribe for
one further new ordinary share at a price of 7.5p ("Exercise Price"), with
a 2-year expiration ("Warrants").
? Warrants include an acceleration provision whereby, should the Ordinary
Shares of the Company close at a volume weighted average share bid price
exceeding 15p for 5 consecutive trading days, the Company will have the
right to require the immediate warrant conversion at the Exercise Price;
? Funds raised will be applied to strategic advancement of the Company,
including a number of high impact initiatives under development.
Malcolm Palle, Executive Chairman of Coinsilium commented: "Today's
financing brings a new strategic sector-focused investor onto our register.
Further, adding to our working capital funds will enable us to implement a
number of important strategic initiatives to support Coinsilium's growth
through 2019 and beyond.
"Shareholders and investors will be aware that the blockchain landscape has
been challenging through much of this year and whilst this has impacted on
the market valuation of the Company, we are now presented with some
interesting strategic opportunities on markedly improved terms.
"Whilst we still see significant upside in our business from existing and
new opportunities, we also recognise the need to employ a degree of caution
when committing working capital. The funds raised will therefore be
effectively deployed to maintain Coinsilium's rapid growth trajectory.
The board continues to focus on delivering long term shareholder value and
we will be providing the market with a comprehensive strategic business
update early in the new year."
Further Information
Coinsilium has successfully raised GBP367,125 gross of expenses in a
placing, through the issue of 9,178,125 Ordinary at a price of 4 pence per
share from a new strategic investor and existing shareholders. The placing
price represents a premium of 23.1% to the market close price on 11 December
2018.
Each placing share has an attaching warrant to subscribe for a further new
ordinary share at an exercise price of 7.5p ("Warrants"), valid for two
years from the date of this announcement.
The issued warrants will also have an accelerator clause, for the full
two-year term, whereby in the event the share price of the Ordinary Shares
reaches a 5 day Volume Weighted Average Price of a minimum of 15 pence
bid-price per share, the Company will have the right to require that the
warrants be exercised and issued in full.
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure and
Transparency Rules, Coinsilium hereby announces that following the issue of
the 9,178,125 new ordinary shares it has 126,814,235 ordinary shares of nil
par value ("Ordinary Shares") in issue, each share carrying the right to one
vote, and 5,850,000 Ordinary Shares held in treasury. There is a total of
132,664,235 Ordinary Shares in issue.
The Directors of Coinsilium Group Limited take responsibility for this
announcement.
For further information, please contact:
Coinsilium Group Limited
Malcolm Palle, Executive Chairman +44 (0) 7785 381089
Eddy Travia, Chief Executive Officer +44 (0) 20 3889 4312
www.coinsilium.com
Peterhouse Capital Limited +44 (0) 207 469 0930
Guy Miller / Mark Anwyl
(NEX Exchange Corporate Adviser)
SI Capital Limited +44 (0) 1483 413 500
Nick Emerson
(Broker)
Notes to Editors:
Coinsilium is a blockchain venture builder, advisor and investor that
finances and manages the development of early-stage blockchain technology
companies. It does this through its consortium of top-tier investors,
industry thought leaders and executive managers. Coinsilium's focus is on
driving innovation in fintech and blockchain technologies, enabling
businesses to take advantage of growth opportunities.
Through its advisory division, Coinsilium also provides strategic services
to companies planning Token Generation Events.
Coinsilium shares are traded on NEX Exchange Growth Market, the primary
market for unlisted securities operated by NEX Exchange, a Recognised
Investment Exchange under the Financial Services and Markets Act 2000.
For further information please visit www.coinsilium.com [1]
ISIN: VGG225641015
Category Code: MSCU
TIDM: COIN
Sequence No.: 6852
EQS News ID: 756967
End of Announcement EQS News Service
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=cb69d1607c8c6ce75a5bfbfb7a28427b&application_id=756967&site_id=vwd_london&application_name=news
(END) Dow Jones Newswires
December 12, 2018 02:01 ET (07:01 GMT)
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