KR1 plc - Investment Update: Volt Ltd PR Newswire

KR1 Plc

("KR1" or the "Company")

Investment Update: Vo1t

KR1 is pleased to announce that Vo1t Ltd (“Vo1t”), a institutional digital asset custodian and an investee company of KR1, has completed a successful fundraising of USD $2milion at a post-money valuation of USD $17million. The funding round saw participation from a highly regarded family office and strategic individuals in the digital asset and traditional financial industry.

Following completion of Vo1t’s funding round and the conversion of Vo1t convertible loan notes held by KR1, the Company now holds ordinary shares in Vo1t representing 7.94% of the company, which at the post-funding valuation, values KR1’s stake in Vo1t at USD $1.4million.

Vo1t is an institutional digital asset custodian, that offers clients safe storage of digital assets including BTC, ETH, XRP and numerous others. In addition to the cold-storage service, Vo1t offers bespoke integrations into institutional financial infrastructure solutions as well as a white-labelled and “Storage-as-a-Service” solution for regulated traditional custodians or digital asset exchanges.

George McDonaugh, Chief Executive Officer of KR1 commented:

“Since its inception we have seen Vo1t gain great traction, continuing to onboard new clients and consistently generating revenue every month. This year and with the funds raised, they have extended their service offering significantly to exchanges and leading financial institutions exploring digital assets and the blockchain space. The company’s assets in custody increased significantly from our seed round participation earlier in 2017.”

The directors of the issuer accept responsibility for the contents of this announcement.

-ENDS-

Contact Details:

KR1 Plc

Stephen Corran

+44 (0)16 2467 6716

scorran@bridgewaters.co.im

NEX Corporate Adviser

Peterhouse Capital Limited

Fungai Ndoro and Mark Anwyl

+44 (0)20 7469 0930