22 May 2020
("KR1" or the "Company")
Portfolio Update: Vo1t
KR1 plc (KR1:AQSE), a leading digital asset investment company, announces that Genesis Trading, a subsidiary of Digital Currency Group, has recently acquired Vo1t Ltd (“Vo1t”). The Vo1t board of directors and a majority of Vo1t’s shareholders approved the deal terms, under which KR1 will receive a total consideration of USD 243,712 for all shares held by KR1 in the Vo1t entity. This consideration will be paid in cash immediately following the closing of the deal, which is expected to take place today.
Vo1t is a London-based digital asset custodian that was seed funded by KR1 and which served as KR1’s main digital asset custody solution from the early stages of the Company. KR1 will evaluate Genesis Trading’s and Vo1t’s combined offering after their integrations are completed, but the Company will also explore alternatives in the digital asset custody sector.
George McDonaugh, Managing Director & Co-Founder of KR1 commented:
“We’ve been on the journey alongside Vo1t since day one and are pleased for the team that their hard work and dedication has been recognised. It’s good to see equity deals go full circle to an exit in the crypto space. KR1’s focus remains on more liquid digital assets, where we are seeing great opportunities in current market conditions, both in newly forming projects as well as in the digital asset secondary markets.”
For further information please contact:
George McDonaugh +44 (0)16 2467 6716
Simon Nicol simon@KR1.io
Peterhouse Capital Limited (AQSE Corporate Adviser)
Mark Anwyl +44 (0)20 7469 0930
Nominis Advisory Ltd (PR Adviser)
Angus Campbell pr@KR1.io
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 (KR1:AQSE), 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 emerging to form new internet infrastructures.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.