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Have to agree. No public denial by Snow re latest news. Roll on the announcements
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIOD ENDED 30th JUNE 2020
Coinsilium Group Limited ("Coinsilium" or the "Company"), the Blockchain, DeFi and Crypto Finance venture operator, is pleased to announce its unaudited consolidated interim financial statements for the six months ended 30 June 2020.
The period under review was, in the main, one of preparation and transition, paving the way for the Company's transition from an investor in early-stage start-ups to a focused Blockchain, DeFi and Crypto-Finance venture operator, as announced post period on 13 July 2020.
Now in its fifth year of operations as a listed company, the Directors remain focused on delivering its vision of creating long term value for shareholders via exposure to a carefully profiled range of high-growth opportunities in the fast evolving blockchain technology sector.
Corporate Highlights:
Strategic Investment of GBP250,000 completed with IOV Labs ("IOV"), a Gibraltar registered company and parent to RSK, by way of a private placement in the Company. IOV Labs subscribed for 9,434,000 shares at 2.65p per share for an interest of 6.94% in Coinsilium's issued share capital. Funds to be used towards joint initiatives between the Coinsilium and IOV and to further the growth and development of the Company.
In tandem with the Strategic Investment, IOV and Coinsilium executed a Memorandum of Understanding ('MOU') to establish a Joint Venture Company (JVC) in Singapore to promote and commercialise RSK's products, services and technologies, predominantly in the Asian markets and to promote the adoption in the region of the RIF token which powers the ecosystem of solutions developed by RSK, their partners and independent developers around the world. Eddy Travia, Chief Executive of Coinsilium, to be appointed as Director of the JV Company and to act as IOV's Regional Director for Asia-Pacific.
Coinsilium appointed as advisor to Kesholabs, an Africa focused blockchain venture builder and development studio.
Commenting, Malcolm Palle, Chairman of Coinsilium said "The Strategic Investment Agreement with IOV Labs and the establishment of the IOV Labs Asia JV represents a transformational event and significant milestone for Coinsilium, laying the foundations for a unique and exciting strategic collaboration between Coinsilium and IOV Labs. The Board believes that this new commercial relationship presents a real opportunity to create meaningful value for shareholders and is particularly significant for the long-term growth of the Company from the perspective of Coinsilium's transition towards its new strategy as a focused Blockchain, DeFi and Crypto-Finance venture operator, as announced post period on 13 July 2020.
"The Board therefore believes that the Company is well positioned to capitalise on new and substantial opportunities in the burgeoning Decentralised Finance