LONDON: Coinsilium Group Limited, a Web3 advisor, venture builder and investor, has announced a strategic financing of £472,500 through the issue of 18.9 million new ordinary shares at 2.5p per share. The financing also includes the participation of the company’s executive chairman and chief executive officer, who subscribed for £40,000 worth of shares.
The company also issued 3.4 million shares for payment of £83,900 in exchange for various business support, marketing and communications services. The new shares come with warrants to subscribe for further shares at 3.75p each, with a three-year expiry period and an acceleration clause that allows the company to trigger the exercise of the warrants if the share price reaches 11.25p or higher for five trading days.
The financing will strengthen the company’s working capital and enable it to accelerate its operational and investing activities in the fast-growing field of Web3 technology. The company will provide further updates on its business developments in due course.
Eddy Travia, Chief Executive Officer of Coinsilium, commented:“Coinsilium is recognised as an active and leading player in the rapidly emerging Web3 economy, and we in turn recognise the opportunity for substantial value creation this sector offers shareholders.
The rapidly rising cryptocurrency prices obviously bodes well for our crypto-treasury position, and the strengthening market also appears to have generated further investor interest in Coinsilium, which is understandable given that we have seen before, in the previous cycles of 2018 and 2021, quite a close correlation between cryptocurrency price movements and marked market capitalisation growth for the Company.
However, in addition to this, in our view, never before has the Company been so well positioned, with our portfolio now reaching across multiple high-growth Web3 markets including, but not limited to infrastructure, AI, social media, finance and game technology sectors.
With the Financing in hand, and with the strong cryptocurrency markets prevailing, we are now in an extremely robust position to move the business forward at an important time and we will be communicating to the market as material developments occur.”
Coinsilium showcases its Web3 investment portfolio and future plans