RE: warrants converted13 Jan 2021 13:14
As previously announced, the Company recently raised GBP0.4 million (before expenses) by way of a placing of 1,818,181 new Ordinary Shares through Monecor (London) Limited trading as ETX Capital and the new ordinary shares were admitted to trading on AIM on 24 December 2020. The Company intends to use the proceeds of the placing to fund the development and launch of crypto and blockchain-based products (which as previously reported are in the earlier stages of development), including a new development project in decentralised finance ("DeFi") of a DeFi protocol, Umbria, which the Company hopes to commence beta-testing in the first quarter of 2021. Umbria's objective is to enable user-friendly swapping between pairs of crypto-assets by interfacing with existing third-party DeFi protocols such as Uniswap, Sushiswap and Yearn.