COINSILIUM GROUP LIMITED
(“Coinsilium” or the “Company”)

INVESTEE COMPANY UPDATE:

Indorse Public Token Sale Launch and Grant of Option

 

Coinsilium Group Limited (NEX: COIN), the accelerator that finances and manages the development of early-stage blockchain technology companies, is pleased to provide the following update regarding Indorse Pte. Ltd. (“Indorse”) and to announce that the Company has been granted an option to subscribe for an additional 7% of the fully diluted share capital of Indorse (“Option Agreement”). Indorse is a Singapore-based company developing a blockchain-powered decentralised network for professionals.

Highlights

  • Indorse successfully closes its blockchain token pre-sale with proceeds reaching 18,396.21 ETH (equivalent to circa USD$5.37million) in 3 days
  • Team doubled from 4 to 8 between May 2017 and July 2017 and now includes 4 technology developers
  • Indorse’s token sale will remain open to the public until 7 September 2017
  • Coinsilium granted an option to subscribe up to SG$350,000 worth of Indorse shares and the right to a seat on the Board of Directors

The Company is pleased to announce that it has entered into an Option Agreement to subscribe to 7% of the fully diluted share capital of Indorse for a total of SGD350,000. The Option Agreement is valid for a 3 month term and if fully exercised, the Company would have the right to appoint an individual to the board of Indorse.

Separately, on 8 June 2017, the Company announced an investment of SGD100,000 (circa £56,100) in Indorse through a convertible loan agreement and received an undisclosed number of Indorse digital tokens as part of this agreement (“Convertible Loan Agreement”). Should the Company choose to fully exercise the Option Agreement and fully covert the Convertible Loan Agreement, the Company’s equity position in Indorse would be circa 10%.

A promotional video from Indorse can be viewed via the link below:

https://youtu.be/peZOjxQhWL4

Eddy Travia, CEO of Coinsilium, commented: “The successful token pre-sale provides a tremendous vote of confidence for Indorse and confirms our belief in the team’s ambitious vision for building a global blockchain-powered decentralised platform for professionals.

“We are confident that the significant level of the proceeds from the pre-sale and the ongoing public token sale will provide the financial resources for the team to accelerate its path towards achieving its objectives.

“We are also very pleased to have been granted this additional option under terms which will allow us to increase our equity stake in Indorse’s capital at a pre-agreed, conservative valuation.

“Following on from the successful exit from our investment in SatoshiPay, achieving a valuation uplift of 363% in under two years, it is important that we demonstrate our ability to identify the next opportunities for our portfolio with the potential to replicate and build on this impressive performance.

“We believe that Indorse represents such an opportunity and its model for using blockchain and smart contract technology to reward user activity introduces a disruptive new paradigm into the multi-billion-dollar social network industry”.

The Directors of Coinsilium Group Limited take responsibility for this announcement.

-ENDS-

For further information, please contact:

Malcolm Palle, Executive Chairman                                                         +44 (0) 7785 381089
Coinsilium Group Limited

Eddy Travia, CEO                                                                               +44 (0) 20 3889 4312
Coinsilium Group Limited

www.coinsilium.com

Harry Chathli / Ana Ribeiro / Alexis Gore                                               +44 (0) 207 618 9100

Luther Pendragon Ltd

(Media Relations)


Guy Miller / Mark Anwyl                                                                 +44 (0) 207 469 0930 
Peterhouse Corporate Finance Limited 
(NEX Exchange Corporate Adviser)

Nick Emerson / Andy Thacker                                                                    +44 (0) 1483 413 500
SI Capital Limited
(Broker)

Notes to Editor

About Coinsilium

Coinsilium is an accelerator 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.  Based in London, Coinsilium’s focus is on driving innovation in fintech and blockchain technologies, enabling businesses to take advantage of growth opportunities. 

 

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 about Coinsilium please visit http://www.coinsilium.com

 

For further information about Indorse please visit http://www.indorse.io