Coinsilium Group Limited (COIN)
Coinsilium Group Limited: Coinsilium Newsletter and Shareholder Update
03-Apr-2020 / 07:00 GMT/BST
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3 April 2020
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Coinsilium Newsletter and Shareholder Update
First and foremost, on behalf of myself and the Coinsilium team, we hope
that you and your families are all staying safe and well. We are living in
unprecedented times with the direct and indirect issues caused by the
Covid-19 virus having taken us all by surprise. That said, for Coinsilium's
management team, predominantly based in Gibraltar and South East Asia, we
are familiar with remote working processes and in this respect it is very
much business as usual for us, as we work to ensure that the Company is as
prepared as possible to weather the storm and emerge stronger on the other
side.
I want to personally welcome you to this first 'new look' Coinsilium
newsletter as a regular feature which we hope you will find interesting and
informative. As you will see, it includes various sections, with an overview
of Coinsilium's regulatory announcements, updates and news from our
portfolio companies, a new 'Crypto Markets' feature courtesy of our friends
at 'Digital Asset Management' (a licensed and regulated digital asset broker
dealer based in Gibraltar), and links to selected educational resources
including some sector focused podcasts series, which we hope you will find
worthwhile exploring further.
The full content of the Coinsilium newsletter can be accessed via the
following link:
https://us10.campaign-archive.com/?e=[UNIQID]&u=7c28901dd05f3fe78a690aa0e&id
=2af7c7b6d0 [1]
You can also subscribe for all future editions directly via the Coinsilium
website at www.coinsilium.com [2]
Coinsilium Updates
IOV Labs MoU and Joint Venture Agreement
You may have read our 28/01/2020 announcement regarding the Memorandum of
Understanding ('MoU') entered into and proposed Joint Venture Agreement
('JVA') between Coinsilium and IOV Labs in Singapore (link here [3]). At the
time of the announcement, as stated, we anticipated that the JVA would be
concluded within a matter of a few weeks. However, due to certain
dislocation issues arising from the COVID19 situation, this is now taking
somewhat longer than originally expected to conclude. Whilst this
unanticipated delay is somewhat frustrating, we can confirm that both
parties are still very much aligned in terms of their desire to complete the
JVA and work towards its conclusion is currently ongoing. While travel
restrictions, social distancing protocols and a general market downturn have
resulted in challenging times for many people and businesses, we remain
fully committed to this new venture and we are hopeful of seeing a sense of
normality begin to return in Singapore in the weeks and months ahead as we
prepare for its launch.
TerraStream MoU
On 26/11/2019, we announced the execution of a Memorandum of Understanding
with Devmons Management Limited ('Devmons'), a Gibraltar registered
technology management company, to jointly launch a blockchain software and
smart contract development studio in Gibraltar, under the brand 'TerraStream
Blockchain Solutions' (link here [4]). Under the terms of the MoU,
Coinsilium agreed to work with Devmons for an exclusive period of up to 3
months towards the execution of a Joint Venture Agreement between the
Parties.
The unexpected dislocations caused by the COVID19 virus have delayed the
completion of the formal JVA between the parties. In the interim, both sides
have therefore agreed to revise the timescale parameters of the MoU whilst
agreeing that all commercial work undertaken in the interim will be
conducted on a revenue share basis.
Terrastream Maiden Commercial Agreement
We are also pleased to report that Terrastream is currently working on its
first client-mandated commercial project for the customisation of an open
source automatic digital asset exchange for a specific blockchain protocol.
As mentioned in the Q&A released at the time of the announcement (link here
[5]), TerraStream expects to grow organically in the initial stages driven
by clients demand and our expectation of attracting some initial
high-profile, high-quality projects. This maiden project gives us confidence
that we will indeed be able to attract further high-quality projects as the
race for adoption between foundational protocols drives demand. We will keep
the market informed on the progress of this process as well as the details
of any new commercial projects undertaken by Terrastream.
Conclusion
The disruption caused by the measures taken to fight the coronavirus also
show a move towards increased reliance on electronic forms of communication
and payments by businesses and individuals. We see this global move as the
generator of new opportunities for blockchain companies around the world.
Whilst the level of disruption the COVID19 crisis is causing to our lives
and the global economy cannot be understated, we believe that it is
important to remain positive and as a business we will be focusing on some
of the market opportunities we are starting to see emerge. We also believe
that our portfolio companies and partners are well prepared to face the
challenges and respond to the needs of a post-coronavirus world and we will
keep you informed of our progress and the progress of our portfolio
companies through further market updates and regular editions of this
newsletter.
I would also like to take this opportunity to thank shareholders for their
continued support and our thoughts at this time are with all those impacted
by this pandemic.
Stay safe!
Eddy Travia
Chief Executive
Coinsilium Group Limited
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
(AQSE Growth Market Corporate Adviser)
? -
SI Capital Limited? +44 (0) 1483 413 500
Nick Emerson
(Broker)
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 leading blockchain
projects such as RSK/IOV Labs, Indorse and Blox
Coinsilium shares are traded on AQSE Growth Market, the primary market for
unlisted securities operated by Aquis Stock Exchange, a Recognised
Investment Exchange under the Financial Services and Markets Act 2000.
For further information please visit www.coinsilium.com [6] or follow
@CoinsiliumGroup on Twitter
ISIN: VGG225641015
Category Code: MSCM
TIDM: COIN
Sequence No.: 56374
EQS News ID: 1014381
End of Announcement EQS News Service
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(END) Dow Jones Newswires
April 03, 2020 02:00 ET (06:00 GMT)
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