Business
Coinsilium Group Limited: Conversion of Green...
Coinsilium Group Limited: Conversion of Green....
About this update from Coinsilium Group Ltd.
[{"type":"text","content":"\n \n \n \n\n\nCoinsilium Group Limited (COIN)\n\n\n\n\n\n\nCoinsilium Group Limited: Conversion of Greengage Loan Note and Subscription for New Shares 15-Jun-2023 / 08:12 GMT/BST\n\n\nCOINSILIUM GROUP LIMITED \n\n(\"Coinsilium\" or the \"Company\") \n\nCoinsilium Group Limited: Conversion of Greengage Loan Note and Subscription for New Shares \n\nLondon, UK, 15 June 2023 - Coinsilium Group Limited (AQSE: COIN) (OTCQB: CINGF), the Web3 investor, advisor, and venture builder is pleased to report the conversion of the principal and interest of the GBP200,000 convertible loan note (the “Loan Note”) made to UK-registered portfolio company Greengage Global Holding Ltd (“Greengage”) in September 2021 by Coinsilium, via its wholly owned Gibraltar registered subsidiary, Seedcoin Limited (\"Seedcoin\"). In addition, Coinsilium is pleased to report that it has also participated in Greengage’s latest funding round with a follow-on investment by Seedcoin of GBP25,000.\n\nHighlights:\n\nGreengage successfully raised £1m, the first tranche of its £5m fundraise, at a £30m valuation.\n Coinsilium to receive 11,094 Greengage A ordinary shares and 7,510 warrants after conversion of principal and interest of the GBP200,000 loan notes. \n Loan notes convert at 20% discount to current £30m valuation.\n Coinsilium further supports Greengage’s latest funding round with GBP25,000 follow on investment, Coinsilium to receive 1,039 Greengage A Shares and 860 warrants.\n Coinsilium’s total shareholdings in Greengage increases to 27,133 A Shares as at the date of this announcement, and based on the current fundraising values the Company’s stake at £652,550.\n The total number of Greengage warrants held by Coinsilium, including the loan conversion warrants and the equity warrants is 8,370.\nMalcolm Palle, Executive Chairman of Coinsilium, commented: \n\n“We are delighted to see the solid progress Greengage continues to make since our early investment in 2021, despite the most challenging market conditions. We are also pleased to be able to further support this current funding round which comes in at a valuation 9.9% higher than Coinsilium’s initial entry point and thereby significantly de-risks our investment.\n\nWith the recent launch of their e-money account services, we are pleased to see Sean and his dedicated team continuing to hit their milestones and ...