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Share Name Share Symbol Market Type Share ISIN Share Description
Coinsilium Group Limited NEX:COIN NEX Ordinary Share VGG225641015
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.20p -6.78% 2.75p 2.50p 4.50p 2.95p 2.70p 2.95p 62,076 14:41:31
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Coinsilium Group Limited: RSK Labs acquired by RIF Labs and completes Private Token Sale

19/11/2018 7:32am

UK Regulatory (RNS & others)


Dow Jones received a payment from EQS/DGAP to publish this press release.

 
 
 Coinsilium Group Limited (COIN) 
Coinsilium Group Limited: RSK Labs acquired by RIF Labs and completes 
Private Token Sale 
 
19-Nov-2018 / 07:30 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
19 November 2018 
 
                          COINSILIUM GROUP LIMITED 
 
                      ("Coinsilium" or the "Company") 
 
                        Coinsilium Investment Update 
 
       RSK Labs acquired by RIF Labs and completes Private Token Sale 
 
                    RIF Board and Advisory Appointments 
 
Coinsilium Group Limited (NEX:COIN), the blockchain venture builder, advisor 
and investor that finances and manages the development of early-stage 
blockchain technology companies, is pleased to provide the following update 
on its investment in RSK Labs. 
 
Further to the announcement today from RSK Labs, a company where Coinsilium 
holds 65,000 series Seed-1 preferred shares via its wholly-owned subsidiary 
Seedcoin Limited ('Seedcoin), RIF Labs has agreed to acquire the entire 
share capital of RSK Labs. RIF Labs is a Gibraltar registered company 
developing a new off-chain infrastructure layer called the RSK 
Infrastructure Open Standard Protocols ('RIF OS Protocols') using the RSK 
Smart Contract Network for settlement, identity management and economic 
coordination in a fully decentralised fashion. 
 
This acquisition will see RIF Labs take the lead on the development and 
community support of both the RSK Smart Contract Network and the RIF OS 
Protocols. 
 
Background to Original Investment 
 
The Company announced on 14 January 2016 that Seedcoin had invested 
US$50,000 for a convertible instrument that provided the right to shares of 
RSK Labs' equity at a pre-money valuation of not more than US$5,000,000. The 
Company subsequently exercised its conversion rights for 50,000 series 
Seed-1 RSK shares. In February 2018 the Company purchased a further 15,000 
series Seed-1 RSK shares for a consideration of US$33,750 making the total 
amount invested US$83,750 for a total holding of 65,000 Seed-1 RSK shares. 
 
The Transaction 
 
The transaction will be conducted by way of a 'share for token' swap and 
Coinsilium will receive approximately 1,951,846 RIF tokens in return for its 
65,000 series Seed-1 RSK shares. The total amount of RIF tokens to be 
received by Coinsilium during the vesting period (described below) is 
equivalent to circa 139.41757 Bitcoins or US$773,070 at the current 
Bitcoin/USD rate as of 18 November 2018. Coinsilium will have an option to 
receive 15% of the total tokens in cash or bitcoin (at the discretion of RIF 
Labs), with the remaining 85% to be received in RIF Tokens over the vesting 
period. 
 
Vesting Terms 
 
The Consideration will be released as follows 
 
12.5% of total consideration shall be released 6 months after completion of 
the transaction and a further 2.5% each month for 42 months thereafter. 
 
                                                 RIF Labs Private Token Sale 
 
RIF Labs, the purpose-driven organisation to be led by RSK Labs's founding 
team and other executives, that undertook a private token sale, considers 
itself to be well funded to properly carry forward the RSK Labs and RIF Labs 
shared vision of bringing the Internet of Value to life. 
 
Additionally, the open source RSK Smart Contract Network created by RSK Labs 
will continue to run on its native currency SmartBitcoin ('RBTC') which is 
and will always be convertible at the fixed parity of 1 RBTC for 1 Bitcoin. 
 
The joint RSK Labs and RIF Labs teams will continue to take the lead on 
contributing to the development of the open RSK Smart Contract Network that 
has been in the hands of the community for some time now. On top of that, 
they will take the lead on the development of the RIF OS Protocols. 
 
The full announcement from RIF Labs can be read here: www.rifos.org/press 
[1] 
 
                                   Appointment of Advisor and Board Director 
 
The Company is pleased to announce that Coinsilium's Executive Chairman 
Malcolm Palle has joined the board of RIF Labs in Gibraltar. Malcolm will 
form part of RIF Labs' board of directors alongside Wayne Almeida and 
Alejandro Aberg Cobo (Chairman). Coinsilium Chief Executive Eddy Travia has 
also been appointed as an advisor to RIF Labs. 
 
The Directors of Coinsilium Group Limited take responsibility for this 
announcement. 
 
For further information, please contact: 
 
Malcolm Palle, Executive Chairman +44 (0) 7785 381089 
Coinsilium Group Limited 
 
Eddy Travia, Chief Executive Officer +44 (0) 20 3889 4312 
Coinsilium Group Limited 
 
www.coinsilium.com [2] 
 
Guy Miller / Mark Anwyl +44 (0) 207 469 0930 
Peterhouse Capital Limited 
(NEX Exchange Corporate Adviser) 
 
Nick Emerson +44 (0) 1483 413 500 
SI Capital Limited 
(Broker) 
 
Notes to Editor 
 
About Coinsilium 
 
Coinsilium is a blockchain venture builder, advisor and investor that 
finances and manages the development of early-stage blockchain technology 
companies. It does this through its consortium of top-tier investors, 
industry thought leaders and executive managers. Coinsilium's focus is on 
driving innovation in fintech and blockchain technologies, enabling 
businesses to take advantage of growth opportunities. Coinsilium also 
provides advisory services to companies planning token generation events. 
 
Coinsilium shares are traded on NEX Exchange Growth Market, the primary 
market for unlisted securities operated by NEX Exchange, a Recognised 
Investment Exchange under the Financial Services and Markets Act 2000. 
 
For further information about Coinsilium please visit 
http://www.coinsilium.com [3] 
 
About RIF Labs: 
 
RIF Labs operates as a purpose driven organization focused on promoting and 
developing the next generation of open blockchain-based infrastructure that 
will enable worldwide financial inclusion and bridge the gap between this 
nascent technology and mass adoption. 
 
RIF Labs is implementing the RIF OS Protocols as a suite of open and 
decentalised frameworks that is intended to enable faster, easier and 
scalable development of distributed applications within a unified 
environment. 
 
The organization has a growing team of mission driven, passionate 
collaborators all over the globe and will be led by the RSK Labs founding 
team that is widely recognized at the forefront of the Bitcoin and 
cryptocurrency space, actively leading key innovations since 2011. 
 
ISIN:          VGG225641015 
Category Code: MSCU 
TIDM:          COIN 
Sequence No.:  6583 
EQS News ID:   747795 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=2d00e54fb0831106441f6292dd71165b&application_id=747795&site_id=vwd_london&application_name=news 
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=cb69d1607c8c6ce75a5bfbfb7a28427b&application_id=747795&site_id=vwd_london&application_name=news 
3: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=1fc2b388f29e686c5b250aed2f05cc7e&application_id=747795&site_id=vwd_london&application_name=news 
 

(END) Dow Jones Newswires

November 19, 2018 02:32 ET (07:32 GMT)

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