Valereum PLC - Group Update and Issue of Shares in Subsidiary
Announcement provided byValereum Plc · VLRM
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 as it forms part of
31 March 2023
("Valereum" or the "Company")
Group Update and Issue of Shares in Subsidiary
Valereum Plc, the
As previously mentioned, NFTs are an important part of the group's strategy in addition to the Gibraltar Stock Exchange ("GSX") acquisition and Valereum Collections is the subsidiary which will be used to operate the group's NFT program. This program will cover the linking of NFTs to real world assets in conservation and motorsport. Using a blockchain provider Valereum Collections will appeal to all age groups by providing payment methods using both crypto and fiat currency.
According to a report released by the consulting and global research firm VMR (Verified Market Research), the overall value of the NFT market is expected to rise to
Further details about the assets and how the NFT program will function will be made later in the year.
The NFT project is separate from the group's intended purchase of the balance of the GSX and Valereum PLC will make further announcements in relation to this as the transaction progresses. It will be crucial in creating the foundation of a new international network headquartered in
If the purchase of the GSX is successful, the future focus of the GSX will be to expand the access to European capital for early stage and small-cap companies in the
We continue to work hard behind the scenes to ensure shareholder value is sustained in what can only be described as difficult times in turbulent markets.
We appreciate shareholder's patience and are looking to make a significant announcement in due course. We would remind investors that we have until 28th July 2023 to exercise the balance of our option although we confidently expect to complete this substantially sooner.
The Directors of the Company accept responsibility for the contents of this announcement.
Richard Poulden, Chairman
Tel: +971 4584 6284
AQSE Corporate Adviser
First Sentinel Corporate Finance
Tel: +44 (0) 7876 888 011
J&H Communications Limited
Tel: +44 (0)7803 603130
For more information, please visit the Company's website at valereum.gi