Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Coinsilium receives additional investment from IOV Labs as parties expand Asia joint venture worldwide

% of readers think this story is Fact. Add your two cents.


Coinsilium Group Limited (LON:COIN) (OTCQB: CINGF) said it has completed a follow-on investment agreement with IOV Labs Ltd, the parent company of smart contract platform RSK, while the two parties have also agreed to expand the geographical scope of the IOV Labs Asia joint venture (JV) from regional to worldwide.

The Aquis-listed blockchain, decentralised finance (DeFi) and crypto finance venture firm said IOV will invest £330,000 in Coinsilium by way of a private placement, subscribing for 11mln new shares at a price of 3p each, a 22% premium to its closing price on Thursday. A warrant will also be issued for every two subscription shares with an exercise price of 4.5p each.

READ: Coinsilium appoints new communications advisor as it prepares to unveil new strategy

IOV Labs will have the right to appoint one director to the Coinsilium board, while the firm’s holding in the group will increase to 13.9%.

Meanwhile, Coinsilium said it has agreed with IOV to broaden the scope of the IOV Labs Asia JV to include “the pursuit of commercial opportunities globally, rather than being limited to the Asian markets alone”, which it said will allow the JV to make the best use of Coinsilium’s worldwide network of relationships and contacts.

IOV Labs Asia is expected to be operational during the first quarter of 2021, and subject to coronavirus travel restrictions, regional director Eddy Travia is expected to relocate to Singapore in advance in order to oversee the setting up of operations.

Coinsilium also said that following the strategic investment from IOV Labs and based on minimum projected revenue assumptions, it is fully funded for all its proposed ventures, activities and budgeted commitments through to at least January 2022.

The group also said the funds will be used towards joint initiatives between Coinsilium and IOV and to further the growth and development of the company.

Travia, who also serves as Coinsilium chief executive, said: “We welcome this timely follow-on investment from IOV Labs. Both IOV Labs and Coinsilium share big ambitions for the company and its potential to create the next generation of digital asset platforms as a Blockchain, DeFi and Crypto Finance venture operator. Since IOV Labs’ original investment in January this year, both parties have been working ever closer to ensure the alignment of our mutual interests ahead of Coinsilium’s forthcoming relaunch as a focused Blockchain, DeFi and Crypto Finance venture operator.”

“Having a partner and significant shareholder with the size and scale of IOV Labs provides Coinsilium with a solid foundation from which to launch a range of ambitious blockchain and crypto finance ventures, targeting the markets where we have identified the greatest potential. We also believe that the removal of territorial constraints with regards to our joint venture activities is a significant development and will open the way to even greater opportunities for our common endeavours. The timing of this follow-on investment and the expansion of the scope of the IOV Labs Asia JV is also particularly favourable, given the burgeoning growth and activity we are seeing in the sector, largely driven by the resurgent cryptocurrency markets which are now trading at levels surpassing those seen at the end of 2017”, Travia added.

Story by ProactiveInvestors


Source: https://www.proactiveinvestors.com/companies/news/935700/coinsilium-receives-additional-investment-from-iov-labs-as-parties-expand-asia-joint-venture-worldwide-935700.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


LION'S MANE PRODUCT


Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules


Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.



Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.


Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.