Business
Coinsilium Group Limited: Coinsilium to corne...
Coinsilium Group Limited: Coinsilium to corne....
About this update from Coinsilium Group Ltd.
[{"type":"text","content":"\n \n \n \n\n\t\n\t\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nCoinsilium Group Limited (COIN)\n\n\n\n\n\n\nCoinsilium Group Limited: Coinsilium to cornerstone funding round for AI powered Infrastructure Finance platform, Silta Finance AG 14-Sep-2023 / 07:00 GMT/BST\n\n\nCOINSILIUM GROUP LIMITED \n\n(\"Coinsilium\" or the \"Company\") \n\nCoinsilium Group Limited: Coinsilium to cornerstone funding round \n\n for AI powered Infrastructure Finance platform, Silta Finance AG \n\nLondon, UK, 14 September 2023 - Coinsilium Group Limited (AQUIS: COIN) (OTCQB: CINGF), the Web3 investor, advisor, and venture builder is pleased to announce that the Company is to cornerstone a funding round for Switzerland-registered Silta Finance AG (“Silta”) via the Company’s 100% owned Gibraltar registered subsidiary, Seedcoin Limited (\"Seedcoin\"). \n\nHighlights: \n\n Seedcoin signs Convertible Loan Agreement and Option Agreement with Silta as cornerstone investor in funding round.\n The Convertible Loan Agreement provides a loan principal amount of USD50,000 at a pre-money valuation of USD5m. The loan is granted for a period of six months, converting at maturity into 22,306 new common shares of Silta at a price of USD 2.2416 per share. \n The Option Agreement for up to USD500,000 provides the rights to subscribe to up to 163,575 new shares in Silta at a pre-money valuation of USD7.5m valid for 12 months. \n Subject to Loan conversion and Options exercised in full, Seedcoin will hold a total of 185,881 shares or 6.7% of the total share capital of Silta.\nEddy Travia, Chief Executive of the Company commented: \n\n“We are delighted to further support Silta Finance and its highly experienced team led by Ben Sheppard in this latest funding round, as cornerstone investors. \n\nThe feasibility and due diligence process for infrastructure projects is known to be extremely time consuming and cumbersome. Silta aims to address this industry-wide challenge head-on with their advanced AI methodology. AI is already proving that it has the potential to redefine complex processes and transform industries, thereby providing a significant competitive advantage to companies su...