Coinsilium Group Limited: Coinsilium Newsletter and Shareholder Update DGAP

Coinsilium Group Limited (COIN)
Coinsilium Group Limited: Coinsilium Newsletter and Shareholder Update

03-Apr-2020 / 07:00 GMT/BST
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3 April 2020

COINSILIUM GROUP LIMITED

("Coinsilium" or the "Company")

 

Coinsilium Newsletter and Shareholder Update

 

First and foremost, on behalf of myself and the Coinsilium team, we hope that you and your families are all staying safe and well. We are living in unprecedented times with the direct and indirect issues caused by the Covid-19 virus having taken us all by surprise. That said, for Coinsilium's management team, predominantly based in Gibraltar and South East Asia, we are familiar with remote working processes and in this respect it is very much business as usual for us, as we work to ensure that the Company is as prepared as possible to weather the storm and emerge stronger on the other side. 

 

I want to personally welcome you to this first 'new look' Coinsilium newsletter as a regular feature which we hope you will find interesting and informative. As you will see, it includes various sections, with an overview of Coinsilium's regulatory announcements, updates and news from our portfolio companies, a new 'Crypto Markets' feature courtesy of our friends at 'Digital Asset Management' (a licensed and regulated digital asset broker dealer based in Gibraltar), and links to selected educational resources including some sector focused podcasts series, which we hope you will find worthwhile exploring further.

 

The full content of the Coinsilium newsletter can be accessed via the following link: https://us10.campaign-archive.com/?e=[UNIQID]&u=7c28901dd05f3fe78a690aa0e&id=2af7c7b6d0

You can also subscribe for all future editions directly via the Coinsilium website at www.coinsilium.com

 

Coinsilium Updates

 

IOV Labs MoU and Joint Venture Agreement

 

You may have read our 28/01/2020 announcement regarding the Memorandum of Understanding ('MoU')  entered into and proposed Joint Venture Agreement ('JVA') between Coinsilium and IOV Labs in Singapore (link here). At the time of the announcement, as stated, we anticipated that the JVA would be concluded within a matter of a few weeks. However, due to certain dislocation issues arising from the COVID19 situation, this is now taking somewhat longer than originally expected to conclude. Whilst this unanticipated delay is somewhat frustrating, we can confirm that both parties are still very much aligned in terms of their desire to complete the JVA and work towards its conclusion is currently ongoing. While travel restrictions, social distancing protocols and a general market downturn have resulted in challenging times for many people and businesses, we remain fully committed to this new venture and we are hopeful of seeing a sense of normality begin to return in Singapore in the weeks and months ahead as we prepare for its launch.

 

TerraStream MoU

 

On 26/11/2019, we announced the execution of a Memorandum of Understanding with Devmons Management Limited ('Devmons'), a Gibraltar registered technology management company, to jointly launch a blockchain software and smart contract development studio in Gibraltar, under the brand 'TerraStream Blockchain Solutions' (link here). Under the terms of the MoU, Coinsilium agreed to work with Devmons for an exclusive period of up to 3 months towards the execution of a Joint Venture Agreement between the Parties.

The unexpected dislocations caused by the COVID19 virus have delayed the completion of the formal JVA between the parties. In the interim, both sides have therefore agreed to revise the timescale parameters of the MoU whilst agreeing that all commercial work undertaken in the interim will be conducted on a revenue share basis. 

 

Terrastream Maiden Commercial Agreement

 

We are also pleased to report that Terrastream is currently working on its first client-mandated commercial project for the customisation of an open source automatic digital asset exchange for a specific blockchain protocol. As mentioned in the Q&A released at the time of the announcement (link here), TerraStream expects to grow organically in the initial stages driven by clients demand and our expectation of attracting some initial high-profile, high-quality projects. This maiden project gives us confidence that we will indeed be able to attract further high-quality projects as the race for adoption between foundational protocols drives demand. We will keep the market informed on the progress of this process as well as the details of any new commercial projects undertaken by Terrastream.

 

Conclusion

 

The disruption caused by the measures taken to fight the coronavirus also show a move towards increased reliance on electronic forms of communication and payments by businesses and individuals. We see this global move as the generator of new opportunities for blockchain companies around the world.

 

Whilst the level of disruption the COVID19 crisis is causing to our lives and the global economy cannot be understated, we believe that it is important to remain positive and as a business we will be focusing on some of the market opportunities we are starting to see emerge.  We also believe that our portfolio companies and partners are well prepared to face the challenges and respond to the needs of a post-coronavirus world and we will keep you informed of our progress and the progress of our portfolio companies through further market updates and regular editions of this newsletter.

 

I would also like to take this opportunity to thank shareholders for their continued support and our thoughts at this time are with all those impacted by this pandemic.

 

Stay safe!

 

Eddy Travia

Chief Executive 

Coinsilium Group Limited

 

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 Growth Market 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 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.: 56374
EQS News ID: 1014381

 
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