REG - Vinanz Limited - Vinanz Plans to Add Bitcoin Miners and Placing

TP IcapAnnouncement

28/02/2024 08:15

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RNS Number : 6946E  Vinanz Limited  28 February 2024

28 February 2024

 

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). Upon the publication
of this announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain.

 

 

Vinanz Limited

 

("Vinanz" or "the Company")

 

£447,750 Placing at 12 pence per Share

 

Vinanz Plans to Increase Bitcoin Mining Fleet in North America

 

Vinanz Limited (London AQSE: BTC and US OTCQB: VINZF), the London listed
Bitcoin mining company focusing on decentralised deployment of Bitcoin mining
clusters in multiple data facilities throughout the US and Canada, is pleased
to announce that it has raised £447,750 (gross) at 12 pence per share,
representing a premium of 6.67% to the closing mid-price of 11.25 pence per
share on 27 February 2024, and will be used primarily to assist with raising
Company awareness in the US for its OTCQB listing and to acquire additional
bitcoin miners to boost the Company's current Bitcoin mining fleet in North
America.

 

The Company will also apply some of this funding to initiate enquiries to
potentially list Vinanz shares on NASDAQ. These enquiries are at an early
stage and there is no guarantee that the Company will achieve a listing on
NASDAQ, but if it is successful in doing so it should upgrade our trading
exposure to US shareholders and may improve liquidity in the Company's
shares.  The Company will seek to retain its admission to AQSE.  The Company
is also investigating the possibility of its shares being traded in Frankfurt
and further announcements will be made in due course with respect to both of
these initiatives.

 

This funding will see the acquisition of new Bitcoin miners which will add to
our existing fleet of miners in the US and Canada. This next Bitcoin miner
purchase will bring in the first series of next generation S21 miners into
Vinanz's fleet. These Bitmain Antminer S21s are regarded as one of the fastest
miners in the world today, with processing speeds now pushing 200 TH per
second, and will be brought in to replace some of our older less speedy fleet
and form part of a new mining cluster to be installed in either the US or
Canada. Vinanz is now working with Luxor, its preferred supplier of miners in
the North America, to have these new miners installed and spinning well before
the anticipated Bitcoin halving in April. It's important that Vinanz is
continually upgrading its equipment within the fleet to achieve the lowest
possible operating cost and remain competitive, as we transition through the
next halving.

 

David Lenigas, Vinanz's Executive Chairman, said:

 

"It's fantastic that we have managed to raise this money at a premium to
yesterday's mid-market share price in Vinanz on Aquis. With the next Bitcoin
halving fast approaching and the excellent institutional uptake of the spot
1:1 Bitcoin ETFs in the US having recently been approved by the US SEC, the
board of Vinanz thought it highly prudent to increase the number of spinning
Bitcoin miners in North America as soon as possible."

 

"No one really knows what's going to happen to the Bitcoin price through 2024
and beyond, but the consensus from many analysts suggest a strong rise could
occur to the Bitcoin price if historical halvings are anything to go by.
Raising fresh equity now to increase the mining fleet puts the Company into a
stronger financial position going forward."

 

"Our model of building out decentralised mining clusters through third-party
data centres in North America, without owning the infrastructure, is one that
the board is hard wired into. We have minimal corporate costs, we don't have
to or want to pay for expensive infrastructure, and we feel the decentralised
cluster approach de-risks our roll-out strategy and makes our business model
very scalable."

 

Placing and Total Voting Rights

A placing agreement was entered into by the Company and Clear Capital Markets
("CCM") on 27 February 2024 to raise gross proceeds of £447,750 through the
placing of 3,731,250 new Ordinary Shares ("Placing Shares") at a price of 12
pence per share ("Placing Price"). The Placing Price represents a premium of
6.67% to the closing mid-price of 11.25 pence per share on 27 February 2024.

Application will be made to the Aquis Stock Exchange for admission of
the 3,731,250 Placing Shares to trading on Aquis. It is expected that
admission will become effective and dealings in the Placing Shares will
commence on Aquis at 8.00 a.m. on or around 6 March 2024 (or such later date
as may be agreed between the Company and the CCM).

The Placing Shares will be issued fully paid and will rank pari passu in all
respects with the Company's existing Ordinary Shares.

Following Admission, the total number of Ordinary Shares in the capital of the
Company on issue will be 131,889,756 with voting rights. This figure may be
used by shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or a change
to their interest in, the Company's issued share capital pursuant to the
Company's Articles.

 

About Vinanz

 

Vinanz is listed on the London Aquis markets and is building out a
fully-fledged Bitcoin mining company initially focusing on installing clusters
of Bitcoin miners within multiple facilities throughout the US and Canada
through third-party cryptocurrency mining providers. Whilst the Company will
focus initially on BTC mining, it will also consider the mining of other
cryptocurrencies, and operations in the DeFi and Big Data space in the future.
The Company intends to be able to provide a listed UK platform to offer entry
to the technology and cryptocurrency business.

 

The Company's admission document is available to view on its website
www.vinanz.co.uk (http://www.vinanz.co.uk)

 

The directors of Vinanz Limited accept responsibility for this announcement.

 

For further information please contact:

 

Vinanz Limited

David Lenigas
            david@vinanz.co.uk (mailto:david@vinanz.co.uk)

Jeremy Edelman
jeremy@vinanz.co.uk (mailto:jeremy@vinanz.co.uk)

 

First Sentinel (Corporate Adviser and Broker)

Brian Stockbridge
brian@first-sentinel.com (mailto:brian@first-sentinel.com)

 
                        +44 (0) 20 3855 5551

 

Clear Capital Markets (Broker)

Bob Roberts
            bobroberts@clear-cm.co.uk
(mailto:bobroberts@clear-cm.co.uk)

 
+44 (0) 20 3869 6080

 

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