Business
Neptune Digital Assets Announces Additional Investment in SpaceX and Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - July 11, 2023) - Neptune Digital Assets Corp. (TSX...
About this update from Neptune Digital Assets Corp
[{"type":"text","content":"Neptune Digital Assets Announces Additional Investment in SpaceX and Corporate UpdateVancouver, British Columbia--(Newsfile Corp. - July 11, 2023) - Neptune Digital Assets Corp. (TSXV: NDA) (OTCQB: NPPTF) (FSE:1NW) (\"Neptune\" or the \"Company\"), one of the first publicly traded blockchain companies in Canada, is pleased to announce its recent investment of an additional $250,000 USD into SpaceX (Space Exploration Technologies Corp.). Neptune now holds approximately 26,770 shares in SpaceX through a third party.SpaceX is an American spacecraft manufacturer, space launch provider, and satellite communication provider. SpaceX was founded in 2002 by Elon Musk and has the goal of reducing the cost of space transportation and to enable the colonization of Mars.The Neptune investment into SpaceX is through an arms-length party. \"We are encouraged by the progress SpaceX has made since our initial investment in July 2022. From securing additional government contracts of up to $100 million USD for space travel to demonstrating the invaluable role of Starlink during the Ukraine conflict and throughout the world, we are excited to increase our shareholders' exposure to one of the most exciting opportunities of our time. This investment further diversifies our balance sheet while providing additional potential upside.\" - Cale Moodie, CEO & President.Corporate UpdateNeptune is pleased to provide shareholders with a brief financial update ahead of the upcoming release of its Q3 financials within the next 3 weeks. Neptune boasts approximately $40 million in assets, carries no debt, and holds a robust cash position of approximately $11 million. The company's strong financial standing ensures that there will be no immediate need for capital raising. Neptune currently has 257 BTC in cold storage and an additional 64 BTC under Chapter 11 claims with Genesis and Celsius. The Company will provide a more in-depth financial update when Q3 results are released at the end of July 2023.About Neptune Digital Assets Corp.Neptune Digital Assets Corp. is one of the first publicly traded blockchain companies in Canada and is a cryptocurrency and blockchain infrastructure leader with operations across the digital asset ecosystem including Bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi), and other associated blockch...