Placing at 13 pence per Share
27 September 2024
Vinanz Limited
("Vinanz" or "the Company")
Placing at 13 pence per Share to Expand Bitcoin Mining Operations
London, New York, 27 September 2024, Vinanz Limited (London AQSE: BTC and US OTCQB: VINZF), the London listed Bitcoin mining company focusing on decentralised deployment of Bitcoin mining clusters in multiple data facilities throughout the US and Canada, is pleased to announce that it has received firm placing agreements to raise £608,300 (gross) at 13 pence per shares by issuing 4,679,230 new ordinary shares.
These new funds will be used primarily to acquire additional Bitcoin miners to boost the Company's current Bitcoin mining fleet in North America and for general working capital.
David Lenigas, Vinanz's Executive Chairman, said:
"It's fantastic that we have managed to raise this money to build out and expand our growing Bitcoin fleet in North America. No one really knows what's going to happen to the Bitcoin price through 2024 and beyond, but we are anticipating a strong rise in the Bitcoin price in the coming months to years and we remain laser focused on accelerating our expansion plans in North America. Raising fresh equity now to increase the mining fleet puts the Company into a much stronger financial position going forward, especially if we do see the much anticipated rise in Bitcoin prices."
Placing and Total Voting Rights
The Company has received firm and binding Placing Agreements from Placees to raise gross proceeds of £608,300 (gross) through the placing of 4,679,230 new Ordinary Shares ("Placing Shares") at a price of 13 pence per share ("Placing Price").
Application will be made to the Aquis Stock Exchange for admission of the 4,679,230 Placing Shares to trading on Aquis. It is expected that admission will become effective and dealings in the Placing Shares will commence on Aquis at 8.00 a.m. on or around 4 October 2024 (or such later date as may be agreed between the Company and the Placees).
The Placing Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.
Following Admission, the total number of Ordinary Shares in the capital of the Company on issue will be 167,446,937 with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's issued share capital pursuant to the Company's Articles.
About Vinanz
Vinanz's primary listing is in London (United Kingdom) on the Aquis Exchange under the ticker BTC and trades in the USA on the US OTCQB under the ticker VINZF. Vinanz is a British Virgin Island (BVI) domiciled company that is building out a fully-fledged Bitcoin mining company initially focusing on installing clusters of Bitcoin miners within multiple facilities throughout the US and Canada through third-party cryptocurrency mining providers. Currently, Vinanz operates Bitcoin miners in Texas, Indiana, Iowa and Nebraska in the USA and in Labrador (Canada). Whilst the Company will focus initially on BTC mining, it will also consider operations in the DeFi, AI and Big Data space in the future.
The Company's admission document is available to view on its website www.vinanz.co.uk
The directors of Vinanz Limited accept responsibility for this announcement.
Enquiries
For further information please contact:
Vinanz Limited
David Lenigas david@vinanz.co.uk
Jeremy Edelman jeremy@vinanz.co.uk
First Sentinel (Corporate Adviser and Broker)
Brian Stockbridge brian@first-sentinel.com
+44 (0) 20 3855 5551
Clear Capital Markets (Broker)
Bob Roberts bobroberts@clear-cm.co.uk
+44 (0) 20 3869 6080
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
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