Coinsilium Group Limited Investee Company Update
February 10 2017 - 9:16AM
UK Regulatory
TIDMCOIN
10 February 2017
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Investee Company Update
Factom
Coinsilium Group Limited (NEX:COIN), blockchain technology investment and
development company, is pleased to announce that Factom Inc. ("Factom"), a
blockchain company in which Coinsilium has a 1.5768% equity interest, has
received a US$750,000 investment from Medici Ventures, the blockchain-focused
investment arm of Overstock.com, Inc, for 2.50% of Factom's common stock.
This investment values Factom at US$30m and Coinsilium's shareholding in Factom
at US$473,040, 236.52% higher than at the time of Coinsilium's investment in
2015.
Coinsilium CEO Eddy Travia commented: "We are pleased to see Medici Ventures
coming into this investment round and reaffirming Factom's leading position and
increasing valuation with minimal dilution for existing shareholders. The
Blockchain industry is evolving fast and attracting a wider range of investors.
This is the second revaluation in our investment portfolio we have announced
this year, which further demonstrates Coinsilium's proficiency in identifying
the right investments at an early stage.
2017 is set to be a pivotal year for Blockchain and Coinsilium is well
positioned to capitalise on its early mover advantage. We look forward to
updating the market on some of the exciting new investment and venture
opportunities we are currently pursuingĀ."
About Factom
Factom is at the forefront of pushing the blockchain revolution towards solving
real-world business problems. Factom's unique back-end infrastructure allows
corporations, governments, and organizations to securely integrate, manage, and
secure data -- any type, any source, and at a massive scale. The result is a
new generation of audit and accountability tools for a safer, more affordable
way to handle secure and tamper-proof transactions. For more information:
www.factom.com.
The Directors of Coinsilium Group Limited take responsibility for this
announcement.
For further information please contact:
Eddy Travia, CEO Coinsilium Group Limited +44 (0) 207 099 0740
Malcolm Palle, Non-executive Coinsilium Group Limited +44 (0) 7785 381089
Director
Harry Chathli / Ana Ribeiro / Luther Pendragon, PR +44 (0) 207 618 9100
Alexis Gore
Guy Miller / Mark Anwyl Peterhouse Corporate +44 (0) 207 469 0930
Finance Limited (NEX
Exchange Corporate Adviser)
Nick Emerson / Andy Thacker SI Capital Limited +44 (0) 1483 413 500
(Broker)
Notes to Editor
Coinsilium is a London-based blockchain technology focused investment and
development company, supporting early-stage blockchain companies through
investment, acceleration, development and education.
Coinsilium shares are traded on NEX Exchange, a Recognised Investment Exchange
under the Financial Services and Markets Act 2000. Coinsilium has a portfolio
of interests in blockchain companies including SatoshiPay, Factom and RSK Labs
and offers a suite of services including accredited training & education,
investment solutions, in-house development and other professional services to
blockchain/fintech companies and major corporations eager to learn how
blockchain technology can transform their business processes.
For further information please visit http://www.coinsilium.com/
END
(END) Dow Jones Newswires
February 10, 2017 09:16 ET (14:16 GMT)