Coinsilium Group Limited (COIN)
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Coinsilium Group Limited: Web3 Investment Portfolio Update and Online Investor Presentation
London, UK 12 February 2024 - Coinsilium Group Limited (AQSE: COIN) (OTCQB: CINGF), the Web3 advisor, venture builder and investor is pleased to report several updates and developments from investees within its Web3 investment portfolio.
Recognising the rapid pace of growth of the Web3 space, and the strong ongoing progress from the Company’s investees and partners, Coinsilium will be delivering an online investor-focused presentation and update scheduled for release online this Wednesday, 14 February. Further details can be found below.
Further investee updates are anticipated, and additional announcements are expected to follow in due course.
SILTA FINANCE UPDATE
Coinsilium holds a convertible loan and option interest in Silta
Silta Finance (“Silta”) is an AI-driven climate financing platform, that conducts swift and efficient bankability and sustainability assessments for infrastructure projects (renewables, water, waste).
Silta has notified Coinsilium that it has recently received an investment from a top 10 global infrastructure development bank (“Bank”) as part of a strategic partnership agreement to build a climate financing marketplace, powered by AI, for bankability and sustainability assessments.
This strategic partnership aims to help support governments, infrastructure developers, and financial institutions to reach their goals of deploying US$800B towards Climate Financing by 2030.
The Silta AI toolkit and marketplace aim to help sustainable infrastructure projects accelerate through due diligence and financial close, thereby reaching their financing goals in timescales that would otherwise be impossible to achieve via established methods and procedures.
Silta’s strategic partnership with the Bank aims to create the benchmark for climate financing due diligence, thereby unlocking an US$800B opportunity within Asian markets, opening the door to a US$1.3T global market for projects driving the transition from fossil fuels to renewables.
Silta Finance objectives are to provide the following:
Investment Terms announced 14 September 2023 whereby Coinsilium reported that it entered into a Convertible Loan Agreement for US$50,000 at a pre-money valuation of US$5 million. The loan was granted for a period of six months, converting at maturity into 22,306 new common shares at USD 2.2416 per share.
Coinsilium also signed an Option Agreement for up to US$500,000 for the right to subscribe to up to 163,575 new shares in Silta at a pre-money valuation of US$7.5 million valid for 12 months from 14 September 2023. Subject to loan conversion and Options exercised in full, Coinsilium will hold a total of 6.7% of the common shares in Silta.
YELLOW NETWORK UPDATE
Coinsilium holds a Simple Agreement for Future Tokens (“SAFT”) in Yellow
Yellow is a Layer-3 decentralised Broker Clearing Network powered by state channels used for communicating and trading between brokers and aggregating liquidity of connected nodes.
Exchanges, brokers, and trading firms connect to the P2P network using a unified communication protocol. The main target of Yellow Network is to interconnect all blockchains unlocking access to liquidity for truly decentralised, cross-chain and ultra-high-speed trading.
Yellow Network has updated its product roadmap for the Yellow Token public launch and token listing which is now slated for Q2 2024. The token listing is a critical milestone since, once tokens are issued and listed on an exchange, this will provide for a mark-to-market valuation reference point for Coinsilium’s investment and potential liquidity event subject to vesting terms.
Investment Terms announced 21 April 2022 whereby Coinsilium reported that it had entered into a SAFT (Simple Agreement for Future Tokens) with Layer3 Fintech Ltd for USD200,000 worth of future Yellow Network digital tokens to be distributed throughout a vesting period.
Coinsilium holds an Equity Investment in Greengage
Greengage Global Holding Limited (“Greengage”) is a digital finance pioneer that provides a platform of relationship-based e-money account services to SMEs, high net worth individuals, and digital asset firms to the highest ethical, security and compliance standards. Alongside account services, Greengage provides clients access to a B2B lending platform offering digital sources of money. Tailored services are delivered by people, empowered by technology.
Greengage has notified Coinsilium that it has signed an agreement with a new regulated partner to bring forward the launch of its USD currency accounts (as well as several other currencies including CHF, SEK and CAD) along with FX and SWIFT payments for its clients.
This is very exciting news for the team as there still remain very few "crypto friendly" payment providers offering USD accounts. Greengage management expect that this new agreement will both help to attract new clients for their services as well as strengthen their existing client relationships.
Greengage also advised that they continue to maintain a healthy pipeline for new account opening submissions and that they are currently exploring collaborations to progress a new line of SME digital debt offering with potential partners (digitally wrapping debt offerings cut down on costs considerably). The first pilot for SME commercial paper is currently underway.
Investment Terms announced 15 June 2023 whereby Coinsilium reported the conversion of its Greengage loan note and subscription for new shares. Coinsilium holds 27,133 Greengage A shares and 8,370 Greengage warrants to subscribe to Greengage shares at an exercise price of GBP28.87, at a valuation of GBP36 million valid, for two years from 15 June 2023.
The 15 June funding round values Greengage at £30 million or a price of £24.05 per share. This valuation results in a 25.51% increase in the value of Coinsilium’s initial 2021 stake in Greengage. Investment value equivalent in GBP as at 30 June 2023 was £652,549, as reported in the Company’s Unaudited Consolidated Interim Financial Statements for the Six-Month Period Ended 30 June 2023.
Coinsilium holds a SAFT in GGs.io
GGs.io (“GGs”) is a major Gaming hub in Latin America with 140 million users and acts as a gateway to the Latin America (‘LatAm’) market for AAA and Web3 game studios. In the video gaming industry, the term "AAA Games" refers to a classification indicating high-budget, high-profile games typically created and distributed by prominent, well-established publishers. These games are commonly considered "blockbusters" due to their widespread popularity and generally boast larger development and marketing budgets compared to other game categories.
GGs develops customised offerings for its clients to provide exclusive experiences to GGs community members whilst boosting its client’s reach and visibility in the LatAm gaming market. GGs currently works with Web3 games ‘League of Kingdoms’, ‘Champions Ascension’ and mobile role-playing game (RPG) shooter FTW by Jungle and is in discussion with Emerge, the main agency for the game catalogue of Immutable X, the first layer2 scaling solution for non-fungible tokens (NFTs) on Ethereum.
GGs has recently notified Coinsilium that it has partnered with Off The Grid (“OTG”), one of the most highly anticipated games in Web3 gaming. The goal is to acquire new users and help OTG scale in LatAm which can also open the door for other AAA Web3 game to launch in Latam in partnership with GGs.
GGs Management advise that they believe the next 6 months will be defining for the Web3 gaming industry in the region and their commitment is to be the best positioned platform to take over this opportunity in the LatAm market.
Investment Terms announced 22 June 2022 whereby the Company reported that, as part of the GGs.io 2022 pre-seed round, Coinsilium entered into an advisory agreement and SAFT (Simple Agreement for Future Tokens) for USD100,000 worth of future GGs digital tokens to be distributed throughout a vesting period.
GGs investors also include high-profile names in the Blockchain venture space such as Boost (Draper’s blockchain incubator), Ripio Ventures, and Orange DAO (Y-Combinator alumni investment pool).
StockBox Investor Online Presentation
Coinsilium will be delivering an online Investor Presentation and Update, hosted by StockBox Media, scheduled for release this Wednesday, 14 February. Management will be taking this opportunity to expand on the significance of today’s updates, to be followed by a Q+A session. Investors are invited to submit in advance any questions they may have to email@example.com with “Coinsilium Questions” in the subject line.
A pdf version of the latest Coinsilium Investor Presentation is available for download from the Company’s website via the following link: https://coinsilium.com/investors/presentations
The online Investor Presentation will be available to view on YouTube from Wednesday 14 February onwards via the following link: https://www.youtube.com/@StockBox
The Directors of Coinsilium Group Limited take responsibility for this announcement.
Notes to Editor
Coinsilium is an advisor, venture builder and investor at the forefront of Web3 convergence. The Company invests in and accelerates Web3 and AI powered technology start-ups whilst supporting their development and commercialisation.
Coinsilium also provides strategic advisory services to start-ups looking to issue tokens through token generation events.
Coinsilium’s wholly owned subsidiary Coinsilium (Gibraltar) Limited is the Company’s operational hub in Gibraltar. Coinsilium shares are traded on the Aquis Growth Market in London, under the ticker symbol "COIN", and on the OTCQB Venture Market in the United States under the ticker symbol "CINGF”.
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