KR1 Plc - Investment Update: Mode Network

KR1 Plc - Investment Update: Mode Network

PR Newswire

LONDON, United Kingdom, May 14

Tuesday, 14 May 2024

KR1 plc

(“KR1” or the “Company”)

Investment Update: Mode Network

KR1 plc (KR1:ASE), a leading digital asset investment company, is pleased to provide an update on the Company’s investment into Mode Network.

 

Following the recent launch of Mode’s mainnet token (“MODE”) and the Company’s exercise of token warrants relating to the investments in Mode’s seed and strategic round, as per the Company’s announcement on 19 April 2024, the Company is due to receive an aggregate total of 125,000,000 MODE, subject to a lockup and vesting schedule. After an initial lock of approximately twelve months from today, the Company expects its MODE tokens to be distributed in equal tranches on a monthly basis over the period between twelve to thirty-six months after Mode’s mainnet token launch.

 

The Directors of KR1 plc accept responsibility for this announcement.

 

--ENDS—

 

For further information please contact:

KR1 plc George McDonaugh Keld van Schreven	[phone]
Peterhouse Capital Limited (Aquis Corporate Adviser) Mark Anwyl	[phone]
SEC Newgate (Financial Communications) Bob Huxford Ian Silvera Atif Nawaz	[phone] [e-mail]

 

About KR1 plc

KR1 plc is a leading digital asset investment company supporting early-stage decentralised and open source blockchain projects. Founded in 2016 and publicly traded in London on the Aquis Growth Market (KR1:ASE), KR1 has one of the longest and most successful track records of investment in the digital assets space by investing in decentralised platforms and protocols that are emerging to form new financial and internet infrastructures.

www.KR1.io

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).

---

---