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Nft Investments Plc LSE:0A94 London Ordinary Share GB00BMW34204 NFT INVESTMENTS ORD SHS
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  0.00 0.0% 0.00 -
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NFT Investments PLC Sale to Pioneer of investment made in Kodoku

03/12/2021 7:00am

UK Regulatory (RNS & others)

Nft Investments (LSE:0A94)
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RNS Number : 4461U

NFT Investments PLC

03 December 2021

Press Release

3 December 2021

NFT Investments PLC

("NFT Investments" or the "Company")

Sale to Pioneer of investment made in Kodoku Studios Ltd

NFT Investments, a company specializing in the identification, acquisition, investment, and development of non-fungible tokens ("NFTs"), is pleased to announce it has sold a 25% equity stake in Kodoku Studios, an innovative NFT-focused gaming company at the forefront of the exciting new NFT-gaming genre, acquired at a cost of GBP500,000.

Kodoku is a London, UK-based studio that is developing a platform called "The Pit", which will enable players to wager their NFTs as well as offer a unique opportunity for other creators to host their own NFT arenas .

On 1 November it was announced that Pioneer Media Holdings Inc, an investment vehicle listed on London's AQSE and the Canadian Securities Exchange, had entered into a non-binding letter of intent with Kodoku Studios to acquire 100 per cent of its issued capital (including the 25% stake owned by the Company) for a total consideration of CAD $8.85 million, to be satisfied by CAD $850,000 in cash and 8 million Pioneer shares valued at CAD $1 per share, distributed on a pro-rata basis to existing Kodoku shareholders.

Kodoku was wholly acquired by Pioneer on 30 November, as a result of which NFT has become a 3 per cent equity holder in Pioneer Media. Based on Pioneer's closing share price of 101.5p on 2 December 2021, NFT's holding of 2,000,000 shares is valued at GBP2.0 million. This, when combined with the CAD $212,500 (GBP125,000) the Company has received from Pioneer, delivers an approximately 4-fold return on its investment in Kodoku.

Jonathan Bixby, Executive Chairman of NFT Investments, said: "We are moving at high-speed to support the growth of a range of innovative businesses that are positioned to benefit from the long-term growth of the NFT market. This is also providing NFT with the opportunity to generate excellent returns on its investments as shown by the takeover of Kodoku. I look forward to supporting Kodoku's growth in order to build further value in the business over the long term."

Mike Edwards, a director of NFT Investments PLC is also the Executive Chairman of Pioneer and owns 13,011,000 shares representing 20.1 % of Pioneer.

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

The directors of NFT Investments accept responsibility for this announcement.

For further information please contact:

 NFT Investments 
 Jonathan Bixby                        via Tancredi +44 207 887 7633 
  Executive Chairman 
  Neil Thapar 
  Investor Relations                    +44 7876 455 323 
 First Sentinel 
 Corporate Adviser 
  Brian Stockbridge                    +44 7876 888 011 
 Tennyson Securities 
 Corporate Broker 
  Peter Krens                          +44 207 186 9030 
 Novum Securities 
 Corporate Broker 
  Colin Rowbury 
  Jon Belliss                          +44 207 399 9427 
 Tancredi Intelligent Communication 
  Media Relations 
 Salamander Davoudi 
  Edward Daly                          +44 7957 549 906 
  Helen Humphrey                        +44 7861 430 057      +44 7449 226 720 

NFT Investments plc is an investment company specialising in non-fungible tokens ("NFTs") and is the first ever NFT vehicle to list in a major jurisdiction worldwide. The Company invests in a diversified portfolio of NFTs, cryptocurrency, and/or in companies or funds which have exposure to NFT or blockchain technology. The Company's leadership team have an extensive track record in the cryptocurrency sector and previously founded Argo Blockchain PLC, a global crypto miner. NFT Investments is headquartered in London, UK and its shares are listed on the Aquis Exchange Growth Market under the ticker symbol NFT.

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(END) Dow Jones Newswires

December 03, 2021 02:00 ET (07:00 GMT)

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