Coinsilium Group Limited: Completion of Acquisition of Tokenomi Web3 Advisory Service Business
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Coinsilium Group Limited (COIN)
COINSILIUM GROUP LIMITED ("Coinsilium" or the "Company")
Coinsilium Group Limited: Completion of Acquisition of Tokenomi Web3 Advisory Service Business
London, UK, 19 May 2023 - Coinsilium Group Limited (AQSE: COIN) (OTCQB: CINGF), the Web3 investor, advisor, and venture builder is pleased to report that, further to its announcement of 14 March 2023, the acquisition of the Tokenomi Web3 advisory service business has now completed and Tokenomi’s owner and managing director, Alexis Nicosia, has joined Coinsilium’s Advisory Team.
Terms of Acquisition
Tokenomi’s advisory client book currently consists of seven retained Web3 blockchain project clients, including three additional deals closed since the announcement of signed Heads of Terms on 14 March 2023, with a prospective pipeline of ten further project clients as at the date of this announcement. With the addition of these three new agreements, based on the agreed terms, projected revenues from all signed Tokenomi advisory service agreements to date can now be expected to reach up to USD1,268,400 (GBP1,018,005) over the next 12 to 24 months, subject to those clients successfully completing their TGEs (Token Generating Events) within this period.
Investors should note that projected revenues are principally success based and contingent on the successful completion of a project client’s Token Generating Event (“TGE”) or public token sale. The TGEs are generally expected to occur during the forthcoming 12 months, with a proportion of success fees, in certain cases, to be received over a subsequent 12 month vesting period. The timing of these events is usually contingent on conducive market conditions. In the event of any deterioration in market conditions, the TGEs may be subject to delays or postponement which would in turn impact on the timeline and projected revenue flows.
The cost of acquisition of Tokenomi is GBP116,500 of which GBP19,000 has been paid in cash and GBP97,500 to be satisfied through the issue of 3.25m new ordinary shares in the Company at a price of 3.0 pence per share, subject to a 6-month lock-in agreement, with a follow on further 6-month orderly market arrangement.
Eddy Travia, CEO of Coinsilium, commented: “As market conditions continue to improve, we are most encouraged to see the growing level of activity in the wider Web3 venture space, and the steady stream of demand we are now witnessing for our Web3 advisory services, particularly in the SE Asia region.
The timely completion of the Tokenomi acquisition, as announced today, brings its founder, Alexis Nicosia, into our advisory team and I look forward to working closely with Alexis, together with the Coinsilium team, in scaling up and further developing our Advisory Service capabilities, as a revenue generating adjunct to Coinsilium’s investment and venture building activities.
We believe this acquisition has the potential to materially contribute to Coinsilium’s revenues as well as the Company’s cryptocurrency treasury holdings.”
The Directors of Coinsilium Group Limited take responsibility for this announcement.
Notes to Editor
About Coinsilium
Coinsilium is a focused Web3 Investor, Advisor and Venture Builder based in Gibraltar, a pre-eminent global regulatory jurisdiction, and a leading hub for innovative financial technology. In 2015, Coinsilium became the first blockchain company to IPO. The Company has evolved to develop revenue-generating strategic advisory services and is a highly regarded innovator with proven technological and commercial expertise and development capabilities in the Web3 arena and within Open Finance.
Coinsilium has developed an array of commercial partnerships and joint ventures around the world to support its development capabilities, giving it access to best-in-class tech experts, a strong network, and asserting its profound industry profile. It has also partnered with blockchain technology experts Indorse to create Nifty Labs, a Web3 and Non-Fungible Token ('NFT') technology development studio in Gibraltar.
Coinsilium shares are traded on the AQSE Growth Market in London, under the ticker symbol "COIN", and on the OTCQB Venture Market in the United States under the ticker symbol "CINGF".
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| ISIN: | VGG225641015 |
| Category Code: | MSCM |
| TIDM: | COIN |
| Sequence No.: | 244815 |
| EQS News ID: | 1636653 |
| End of Announcement | EQS News Service |
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