NFT Investments PLC Sale to Pioneer of investment made in Kodoku (4461U)

TIDMNFT

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 [phone] 
  Executive Chairman 
  Neil Thapar 
  Investor Relations                    [phone] 
                                      ------------------------------ 
 First Sentinel 
                                      ------------------------------ 
 Corporate Adviser 
  Brian Stockbridge                    [phone] 
                                      ------------------------------ 
 Tennyson Securities 
                                      ------------------------------ 
 Corporate Broker 
  Peter Krens                          [phone] 
                                      ------------------------------ 
 Novum Securities 
                                      ------------------------------ 
 Corporate Broker 
  Colin Rowbury 
  Jon Belliss                          [phone] 
                                      ------------------------------ 
 Tancredi Intelligent Communication 
  Media Relations 
                                      ------------------------------ 
 Salamander Davoudi 
  Edward Daly                          [phone] 
  Helen Humphrey                        [phone] 
  [e-mail]      [phone] 
                                      ------------------------------ 
 

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. https://www.nftinvest.pro/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NEXFSLFAEEFSEFE

(END) Dow Jones Newswires

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