("KR1" or the "Company")
Portfolio Update: Cosmos & Staking Yields
KR1 plc (NEX:KR1), a leading digital asset investment company, is pleased to announce that the Company has sold 70,079 tokens in the Cosmos Network ("ATOM") project at an average price of USD5.14 per token generating proceeds of USD360,605. These ATOM tokens were acquired at an average price of USD0.10 per ATOM token during the public ICO in early 2017. Cosmos was one of the Company's earliest investments and it is proving to be one its most successful to date.
In addition, KR1 has generated a further 7,008 ATOM tokens from staking activities over the last four weeks, which it has sold at a price of USD6.93 per token. Since the Cosmos network launch on 14 March 2019, KR1 has generated a total of over USD122,250 from staking yields and the Company continues to hold a large majority of its ATOM position, which will also be used in this way, generating revenues for the Company’s operations going forward.
George McDonaugh, Chief Executive Officer of KR1 commented: "We are delighted to provide investors with the news of this impressive return from one of the most exciting investments in our growing portfolio. The ATOM token has appreciated significantly in value over the last few weeks demonstrating that Cosmos is fast becoming a widely adopted blockchain protocol. The returns generated from our partial ATOM token disposals and staking activities will boost our asset base and enhance our investment capabilities even further. At the same time, KR1 retains a significant number of tokens which will allow the Company to passively generate revenues from staking activities. We believe that this is the correct strategy to pursue in the long-term.”
“As we continue to build an ever growing portfolio of blockchain and cryptocurrency investments, we remain one of the few publicly listed companies in the world that is invested in staking tokens and one of only a few investment companies that took part in the initial sale of Cosmos tokens, along with investors such as Polychain, Dokia Capital and BKCM."
The Directors of the Company accept responsibility for the contents of this announcement.
For further information please contact:
George McDonaugh +44 (0)16 2467 6716
Stephen Corran firstname.lastname@example.org
Peterhouse Capital Limited (NEX Corporate Adviser)
Fungai Ndoro +44 (0)20 7469 0934
Nominis Advisory Ltd (PR Adviser)
Angus Campbell email@example.com
About KR1 plc
KR1 is a leading digital asset investment company supporting early stage decentralised and open source blockchain projects. Founded in 2016 and publicly traded in London (NEX:KR1), KR1 has built a notable reputation for generating significant returns by investing in many key projects that are designed to power the decentralised platforms and protocols that are emerging to form new internet infrastructures.