Business
Coinsilium Group Limited: Heads of Terms sign...
Coinsilium Group Limited: Heads of Terms sign....
About this update from Coinsilium Group Ltd.
[{"type":"text","content":"\n \n \n \n\n\t\n\n\n\n\n\n\n\n\n\n\n\nCoinsilium Group Limited (COIN)\n\n\n\n\n\n\nCoinsilium Group Limited: Heads of Terms signed with Blockchain Development Company Indorse for Strategic Share Acquisition Transaction 28-Nov-2023 / 07:00 GMT/BST\n\n\nCOINSILIUM GROUP LIMITED\n\n(\"Coinsilium\" or the \"Company\")\n\nCoinsilium Group Limited: Heads of Terms signed with Blockchain Development Company Indorse for Strategic Share Acquisition Transaction \n\nLondon, UK, 28 November 2023 - Coinsilium Group Limited (AQUIS:COIN) (OTCQB:CINGF), the Web3 investor, advisor and venture builder, is pleased to announce that it has signed Heads of Terms (“HoT”) with investment portfolio company, Singapore-registered Indorse Pte. Ltd (“Indorse\"), a blockchain development company, to acquire a further 2,773 shares representing an additional stake of 14.76% in the post-transaction share capital of Indorse (the “Transaction”). \n\nCoinsilium currently holds 1,433 shares or 10.156% of the current share capital of Indorse. Upon the successful completion of the Transaction, Coinsilium’s total shareholding in Indorse will be 4,206 shares or 24.91% of the total share capital.\n\nHighlights\n\nCoinsilium signs Heads of Terms with blockchain development company Indorse to raise its stake from 10.156% to 24.91%\n Transaction to be satisfied by the issue of 65m new Coinsilium shares at 3p per share representing a consideration of GBP1.95m.\n Indorse generated unaudited gross revenues of approximately SGD1.576m or GBP941,150 over the past 12 months. \n The Transaction aligns Coinsilium and Indorse commercial interests ahead of soon to be announced new Web3 collaboration.\nThe completion of the Transaction is subject to due diligence, any necessary approvals and the successful execution of a share purchase agreement (“SPA”). The consideration will be satisfied by the issue of 65m new ordinary shares in Coinsilium at a deemed price of 3p per share representing a consideration of GBP1.95m.\n\nEddy Travia, Chief Executive Officer of Coinsilium, commented: “We are delighted to announce this proposed additional significant investment in portfolio company Indorse which will be a major development milestone for the Company. Subject to its successful completion, we believe this Transaction will be highly value accretive for shareholders; securing a significant in...