Coinsilium Group Limited (COIN)
Coinsilium Group Limited: IOV Labs and Coinsilium MoU and Strategic Investment
Agreement
28-Jan-2020 / 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.
28 January 2020
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
IOV Labs and Coinsilium MoU and Strategic Investment Agreement
Coinsilium enters into Strategic Investment Agreement and MoU with IOV Labs
London, UK, 28 January 2020 - Coinsilium Group Limited (NEX: COIN), the
blockchain technology venture builder, advisor and investor is pleased to
announce that it has entered into a Strategic Investment Agreement and signed
a Memorandum of Understanding with IOV Labs ("IOV"), a Gibraltar registered
company and parent to RSK, the developers of the first smart contract platform
secured by the Bitcoin network, in which Coinsilium holds a vesting interest
of 1,951,846 RIF tokens.
Strategic Investment Agreement
IOV has completed an investment of GBP250,001 by way of a private placement in
the Company, subscribing for 9,434,000 new ordinary shares of no-par value
("Ordinary Shares") at 2.65p per share. The funds will be used towards joint
initiatives between the Company and IOV and to further the growth and
development of the Company.
MoU signed to establish Joint Venture Company in Asia
In tandem with the Strategic Investment Agreement, IOV and Coinsilium have
executed a Memorandum of Understanding ('MOU') stating the intention to
establish a Joint Venture company ('JV Company') in Singapore in order to
promote and commercialise RSK's products, services and technologies in the
Asian markets to corporations, entrepreneurs, governments and NGOs. Another
key objective of the JV Company is to promote the adoption in the region of
the RIF token which powers the ecosystem of solutions developed by RSK, their
partners and independent developers around the world. The MOU further
specifies the intention that Eddy Travia, Chief Executive of Coinsilium, is to
be appointed as Director of the JV Company and, as part of his role in the JV,
he will provide services to IOV which include acting as IOV's Regional
Director for Asia-Pacific. Notwithstanding this new appointment, Eddy will
also continue to maintain his existing functions and responsibilities as Chief
Executive of Coinsilium.
Additional agreements defining the terms of the JV and collaboration between
IOV and Coinsilium in Asia are expected to be concluded and signed within the
next few weeks and the market will be updated in a timely manner thereafter.
This JV further strengthens the proximity and collaboration between the two
companies, with Malcolm Palle, Chairman of Coinsilium, already serving as an
existing member of the IOV board.
RIF Token
Coinsilium's continued vesting interest in IOV is represented by way of
1,951,846 RIF tokens. As announced on 19 November 2018, Coinsilium's
shareholding of 65,000 series Seed 1 RSK shares was converted to RIF tokens by
way of a 'share for token' swap.
Eddy Travia, Chief Executive of Coinsilium, commented: "We are very pleased to
be able to announce this Strategic Investment Agreement and MoU today, which
represents a clear demonstration of confidence in Coinsilium's development
strategy, whilst significantly strengthening the ties between Coinsilium and
IOV Labs. The rapidly-evolving blockchain ecosystem in Asia is an important
strategic market for RSK, and comprises some of the most dynamic and
fast-growing blockchain hubs in the world. We look forward to updating the
market in the near term as we work towards finalising the definitive JV
agreement which will enable us to further our collaboration with the IOV Labs
and RSK's teams. The Board continues to focus on delivering long term value to
Coinsilium shareholders through continued revenue generation and growth."
Diego Gutierrez Zaldivar, Chief Executive Officer of IOV Labs, commented:
"This is an extremely exciting time for the IOV Labs team. Asia has always
been a key market for us, as the immense innovation in the region will be
integral to realising blockchain's full potential. We are very excited about
our strategic partnership with Coinsilium as it will help set an important
footprint in the region, allowing us to forge new relationships with key
partners and solidify the long term success and development of IOV Labs and
the RSK blockchain."
Total Voting Rights
In accordance with the Financial Conduct Authority's Disclosure and
Transparency Rules, Coinsilium hereby announces that following the issue of
the 9,434,000 new ordinary shares it has 135,968,235 ordinary shares of nil
par value ("Ordinary Shares") in issue, each share carrying the right to one
vote, and 6,130,000 Ordinary Shares held in treasury. There are 142,098,235
Ordinary Shares in issue in total.
Following this announcement, IOV Labs' shareholding in Coinsilium represents
6.94% of the issued share capital with voting rights of the Company
(135,968,235 Ordinary Shares) excluding the 6,130,000 Ordinary Shares held in
treasury.
Coinsilium Startup Grind Gibraltar Launch
Coinsilium will be hosting the forthcoming Startup Grind session in Gibraltar
on Tuesday 28 January where Chairman Malcolm Palle will be participating in a
panel session alongside Diego Gutierrez Zaldivar, CEO of IOV Labs, Joey
Garcia, Partner at Isolas LLP in charge of the Fintech/DLT team and Gaurang
Torvekar, CEO at Indorse, a company in which Coinsilium holds 10% equity
interest. The Hon. Albert Isola, HM Government of Gibraltar Minister for
Gaming, Finance and Digital Services will be delivering the opening address.
The event is for invited guests only and will be filmed for subsequent viewing
online. Viewing details will be made available through the Company's website
and via social media.
https://www.startupgrind.com/events/details/startup-grind-gibraltar-presents-b
lockchain-technology-opportunity-for-gibraltar-w-coinsilium-gibraltar-indorse-
rskiov-labs/#/
The Directors of Coinsilium Group Limited take responsibility for this
announcement.
For further information, please contact:
Coinsilium Group Limited +44 (0) 7785 381 089
Malcolm Palle, Executive Chairman www.coinsilium.com
Eddy Travia, CEO
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)
Yellow Jersey PR +44 (0) 20 3004 9512
Chris Flame / Dominic Barretto
(PR & IR)
Notes to Editors:
About Coinsilium
Coinsilium is a venture builder, investor and advisor, supporting early-stage
blockchain technology companies and the digital token economy. As the first
ever IPO of a blockchain company in 2015, Coinsilium harnesses its experience
and wide-ranging network to invest in some of the world's leading blockchain
projects such as RSK/IOV Labs, Indorse, Blox and Factom.
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] or follow
@CoinsiliumGroup on Twitter
About IOV Labs
IOV Labs [2] is focused on developing the platforms needed for a new
blockchain-based financial system that will enable worldwide financial
inclusion and bridge the gap between these nascent technologies and mass
adoption.
The organization currently develops the most popular implementations of the
RSK Smart Contract Network [3], RIF [4] and Taringa [5]'s platforms. RSK
Network is the most secure Smart Contract platform in the world, as it relies
on Bitcoin's hash power. RIF is a suite of open and decentralized
infrastructure protocols that enable faster, easier and scalable development
of distributed applications (dApps) within a unified environment to enable
mass adoption of Bitcoin and RSK and Taringa - Latin America's largest Spanish
speaking social network with 30 million users and 1,000 active online
communities - through the integration with Bitcoin, RSK and RIF will help
shape the Internet of the Future where individuals will be in full control of
their information and value.
For further information please visit www.iovlabs.org [6] ,www.rsk.co [7] ,
www. [8]rifos.org [8] and www.taringa.net [9]
ISIN: VGG225641015
Category Code: MSCM
TIDM: COIN
Sequence No.: 42956
EQS News ID: 961983
End of Announcement EQS News Service
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