Investee Company Update: Factom Inc. DGAP

Coinsilium Group Limited (COIN)
Investee Company Update: Factom Inc.

23-Jun-2020 / 07:00 GMT/BST
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COINSILIUM GROUP LIMITED

("Coinsilium" or the "Company")

 

Investee Company Update: Factom Inc.

 

London, UK, 23 June 2020 - Coinsilium Group Limited (AQSE:COIN), the blockchain technology venture builder, advisor and investor, hereby provides an update in respect of investee company, Factom Inc. ("Factom").

Further to its announcement on 2 April 2020, the Company has been notified by the directors of Factom that Factom has filed for reorganisation under Chapter 11 Subchapter V to address structural issues preventing them from raising further capital.

Factom advise that Chapter 11 Subchapter V provisions preserve the position of the existing shareholders and structures the means of paying creditors. The directors of Factom expect Factom to emerge from the Chapter 11 reorganisation in 60 to 90 days.

The Company's interest in Factom is by way of 150,000 Series Seed shares and 73,291 Preferred Series A-1 shares valued at £236,776 on 30 June 2019.

The Directors of Coinsilium Group Limited take responsibility for this announcement.

 

For further information, please contact:

 

 

Coinsilium Group Limited 

Malcolm Palle, Executive Chairman

Eddy Travia, CEO

+44 (0) 7785 381 089

www.coinsilium.com

 

 

Peterhouse Capital Limited 

Guy Miller / Mark Anwyl

(AQSE Exchange Corporate Adviser)

+44 (0) 207 469 0930

 

 

SI Capital Limited 

Nick Emerson

(Broker)

+44 (0) 1483 413 500

 

 

Notes to Editors:

 

About Coinsilium

 

Coinsilium is a venture builder, investor and advisor, supporting early stage blockchain technology companies and the digital token economy. As the first ever IPO of a blockchain company in 2015, Coinsilium harnesses its experience and wide-ranging network to invest in leading blockchain projects such as RSK/IOV Labs, Indorse and Blox.

 

Coinsilium shares are traded on the AQSE Growth Market, the primary market for unlisted securities operated by Aquis Stock Exchange, a Recognised Investment Exchange under the Financial Services and Markets Act 2000.

 

For further information please visit www.coinsilium.com or follow @CoinsiliumGroup on Twitter

 

 



ISIN: VGG225641015
Category Code: MSCM
TIDM: COIN
Sequence No.: 71266
EQS News ID: 1075995

 
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