RCS - Vela Technologies - Update re. BlockchainK2 Investment in RealBlocks

Vela TechnologiesAnnouncement

05/07/2019 07:05

RNS Number : 5611E
Vela Technologies PLC
05 July 2019
 


RNS Reach
5 July 2019
Vela Technologies plc
("Vela")
 
Update re. BlockchainK2 Investment in RealBlocks
The Board of Vela (AIM: VELA) notes the recent announcement by BlockchainK2 Corp. ("BlockchainK2") regarding its investment of US$500,000 in Envexergy Inc ("RealBlocks"), a modern blockchain investment network providing global access and secondary trading for alternative investments.
At the date of this announcement, Vela holds 272,000 shares in BlockchainK2 representing approximately 1.81 per cent. of BlockchainK2's current issued share capital. BlockchainK2 is listed on the TSX Venture Exchange, on which the closing mid-market price of 3 July 2019 was CAD$0.24 which values Vela's shareholding in BlockchainK2 at CAD$65,280 (equivalent to c. £39,770*).
Extracts from the BlockchainK2 announcement are copied below:
BlockchainK2 Announces Investment in RealBlocks
 
Vancouver, British Columbia--(Newsfile Corp. - July 2, 2019) - BlockchainK2 Corp. (TSXV: BITK) (OTCQB: BIDCF) (STU: KRL2)("BlockchainK2" or the "Company") is pleased to announce an investment in Envexergy Inc. ("RealBlocks"), a modern blockchain investment network providing global access and secondary trading for alternative investments.
 
Sergei Stetsenko, a Director of BlockchainK2, stated, "Decentralized blockchain solutions are enabling the tokenization of alternative financial assets  -  including the multi-trillion dollar private equity, private credit and private real estate markets. RealBlocks' tokenization solution enables more efficient capital raising, more cost-effective compliance, simpler documentation and, most importantly, offers secondary trading of illiquid alternative assets. The RealBlocks network also enables broader distribution of alternative private financial assets, lower costs to investors and distributors, and liquidity and transparency in secondary markets."
 
"We are excited to have BlockchainK2 join a group of investors that supports RealBlocks' mission to open alternative investments to investors around the world. There is growing demand from investors and financial intermediaries to access the potential of the alternative investment market. Through the support of BlockchainK2 and others, RealBlocks is creating a new way to reach these opportunities," said RealBlocks CEO Perrin Quarshie.
 
"RealBlocks democratizes access to alternative investments by digitizing shares of the funds over a blockchain-enabled network. The network is designed to create unmatched levels of liquidity and transparency in the traditionally complex world of alternatives, thereby enabling fund managers, financial intermediaries and investors greater control and impact over their performance," continued Mr. Quarshie.
 
BlockchainK2's investment of U.S. $500,000 closes off RealBlocks' seed round financing and adds to previous investments in RealBlocks of U.S. $3.1 million earlier this year by various venture capital funds, including Science Inc., Morgan Creek Digital, Zelkova Ventures, Ulu Ventures, and Cross Culture Ventures.
 
About BlockchainK2 Corp.
BlockchainK2 Corp. is a holding company investing in blockchain technology solutions for capital markets and other sectors that can be made more efficient through tokenization. For information on BlockchainK2 Corp., please visit www.blockchaink2.com.
For further information, please contact:
Sergei Stetsenko, Director 604-630-8746
 
Cautionary Note Regarding Forward Looking Statements
This press release contains statements which constitute "forward-looking statements", including information concerning the intentions, plans and future action of the Company described herein. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of a public company, currently with limited business and financial resources, as well as those risk factors discussed or referred to in the Company's continuous disclosure record available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
 
The announcement by BlockchainK2 can be found here: https://web.tmxmoney.com/article.php?newsid=7760227123791364&qm_symbol=BITK
 
*Based on the exchange rate as on 4 July 2019 of C$1: GB£0.609196
For further information, please contact: 




Vela Technologies plc


Tel: +44 (0) 7802 262 443




Brent Fitzpatrick, Non-Executive Chairman
Antony Laiker, Director  


 




 


 




Allenby Capital Limited
(Nominated Adviser)


Tel: +44 (0) 20 3328 5656




Nick Athanas/Asha Chotai 


 




 


 




Smaller Company Capital Limited
(Joint Broker)


Tel: +44 (0) 20 3651 2910




Rupert Williams/Jeremy Woodgate


 




 


 




SVS Securities Limited
(Joint Broker)


 
Tel: +44 (0) 20 3700 0100




Elliot Hance


 




 
About Vela Technologies
Vela Technologies (AIM: VELA) is an investing company focused on early stage and pre-IPO long term disruptive technology investments. There are currently 12 investments in the portfolio which either have developed ways of utilising technology or developing technology with a view to disrupting the businesses or sector in which they operate. More recently, Vela Technologies has also started to focus on existing listed companies where valuations may offer additional opportunities. 
 
About RNS Reach announcements
This is an RNS Reach announcement. RNS Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases into the public domain.   Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on RNS Reach.
 




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 rns@lseg.com or visit www.rns.com.
 
END
 
 
NRAZZLFBKDFZBBK