Blue Star Capital (BLU.L) Exercise of Warrants, Placing and New Investment

Blue Star Capital plc (AIM: BLU), the investing company with a focus on esports, payments, technology and its applications within media and gaming, announces, further to its announcement of 15 April 2021, that it has raised approximately £1.02 million, before expenses.

Pursuant to a placing of 142,857,143 new ordinary shares and the exercise of 442,221,889 warrants (together the “Fundraise”) both at a price of 0.175p per new ordinary share (“the Issue Price”). As a result of the Fundraise, the company has allotted a total of 585,079,032 new ordinary shares (“New Ordinary Shares”) representing approximately 11.9 per cent. of the Company’s enlarged issued share capital. The placing has been conducted by Kiyo Capital Limited.

The Company intends to use the proceeds of the Fundraise to provide it with general working capital and additional funds for investment in new and existing opportunities. As previously announced, the Company is considering making a further investment in Dynasty eSports Pte Ltd and is pleased to announce an investment in NFT Investments plc (“NFT”), further details of which are set out below.

Investment in NFT Investments plc

The Company is pleased to announce that is has invested £200,000 in the IPO of NFT which admitted to trading on the AQSE Growth Market earlier today. The Company had previously made an investment in an earlier funding round of NFT and, as a result of the further investment today, holds 9,000,000 ordinary shares representing approximately 0.9 per cent. of NFT’s issued share capital.

NFT has been launched by the co-founders of Argo Blockchain to invest in non-fungible tokens, a specialised class of assets that certifies authenticity and proof of ownership of digital assets. NFT advises it is the world’s first pure-play investment company focused exclusively on investing in non-fungible tokens to launch on a stock market in a major jurisdiction worldwide.

Fundraise, Admission to AIM and Total Voting Rights

The Fundraise has raised approximately £1.02 million pursuant to the issue of New Ordinary Shares at the Issue Price. The warrants exercised in the Fundraise were granted in November 2019 and June 2020 and are due to expire on or before 8 June 2021. Derek Lew, a director of the Company, also holds 45,000,000 warrants which are due to expire on 6 May 2021. It is the intention of Derek Lew, who has not exercised his warrants as part of the Fundraise, to exercise his warrants shortly and a further announcement will be made in due course in the event of any such exercise.

The New Ordinary Shares will rank pari passu with the existing ordinary shares. Application will shortly be made to the London Stock Exchange to admit the New Ordinary Shares to trading on AIM (“Admission”) which is expected to occur on or around 23 April 2021.

As a result of their participation in the Fundraise, Pioneer Media Holdings inc. will, on Admission, hold 322,916,333 ordinary shares representing 6.6 per cent. of the Company’s enlarged issued share capital.

Following Admission of the New Ordinary Shares, the Company’s issued share capital will comprise 4,913,328,550 ordinary shares which may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules. The Company does not hold any shares in treasury.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

About Blue Star Capital

Blue Star is an investing company with a focus on new technologies. Blue Star’s investments include a 27.7% holding in SatoshiPay, a payments business using blockchain technology; investments in 6 early stage esports companies with shareholdings ranging from 5.9% to 13.6% and a 0.9% investment in Sthaler, an identity and payments technology business which enables a consumer to identify themselves and pay using just their finger.

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