25 April 2019
("KR1" or the "Company")
Portfolio Update: OMG and NEX
KR1 plc (NEX:KR1), a leading digital asset investment company, is pleased to announce that the Company has sold its remaining holdings in the OmiseGo ("OMG") project. Overall, OMG has been one of the Company's most successful investments to date and has enabled KR1 to further support a number of other projects. The Company has disposed of its remaining OMG tokens at an average price of US$2.054 per token for a total of US$205,851, having initially purchased each at a price of US$0.2738.
The Company has also disposed of 25,000 tokens of its holding in the Nash Exchange (“NEX”) project. These tokens were bought for US$1.00 per NEX token and have been sold at an average price of US$2.033 each. The Company retains 25,000 NEX tokens and is expecting a successful exchange launch for the project towards the end of the year.
In line with its strategy to support early stage projects, KR1 will repurpose the funds gained by investing in new projects.
George McDonaugh, Chief Executive Officer of KR1 commented: "As ever, the blockchain space continues to grow at an extraordinary rate and we remain at the forefront of identifying and investing in transformational blockchain technologies, many of which are starting to move into production. Even throughout the recent year long, bear market, innovation has continued at a pace. Our investment in both these projects have been successful for us, generating significant returns and will allow us to capitalise on the current positive shift in market sentiment. In line with KR1's strategy to stay nimble and back the very best projects in the space, we aim to time our exits when the time is right in order to achieve considerable returns on our investments."
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 stephen@KR1.io
Peterhouse Capital Limited (NEX Corporate Adviser)
Fungai Ndoro +44 (0)20 7469 0934
Nominis Advisory Ltd (PR Adviser)
Angus Campbell pr@KR1.io
Notes to Media
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 listed in London (NEX:KR1), KR1 has built a notable reputation for generating significant returns by investing in key projects that will power the decentralised platforms and protocols that form the emerging Web3 infrastructure.