(“KR1” or the “Company”)
Investment Portfolio Update
KR1 is pleased to announce that the Company has made disposals of the remaining holdings in the Golem (“GNT”) and Qtum (“QTUM”) projects. Both projects have reached very mature and self-sufficient stages, which fulfils KR1’s key business model, to provide capital and support to early-stage projects.
The Company sold the last of its 600,281.9 GNT tokens at an average price of USD 0.22 per token for a total of USD 133,679.18. These tokens were initially purchased for USD 0.013 per GNT token in late 2016.
The Company has also sold its remaining 20,117.5 QTUM tokens at an average price of USD 6.24 per token for a total of USD 125,543.72. These tokens were purchased in the first quarter of 2017 for USD 0.31 per QTUM token.
George McDonaugh, Chief Executive Officer of KR1 commented: “Today’s announcement marks the first time that KR1 has exited from a project’s stake in its entirety since the Company’s inception. Both projects employ large teams, have thriving communities, and early versions of their protocols are deployed and working well. It is also clear that there is increased competition in the respective verticals from projects like TrueBit, Dfinity or other platforms. It has been an incredibly exciting and hugely successful journey that KR1 shared with the Golem and Qtum projects over the last two years, and our stakes in both enabled us to engage in numerous other investments over that period. Should a discrepancy between their technical progress and market sentiment arise, we would happily take positions again.”
The directors of the issuer accept responsibility for the contents of this announcement.
+44 (0)16 2467 6716
NEX Corporate Adviser
Peterhouse Capital Limited
Fungai Ndoro and Mark Anwyl
+44 (0)20 7469 0930