The Board of Vela (AIM: VELA), the investing company focused on early-stage and pre-IPO disruptive technology investments, announces that, on 16 January 2018, the Company exercised its remaining 25,000 warrants in BTL Group Ltd (“BTL”) at a price of C$3.25 per share (the “Exercise”) at a total cost of approximately C$81,250 (equivalent to approximately £47,315). The warrants were exercisable for a period expiring on 6 April 2019.
Following the Exercise, the Company holds 620,000 common shares in BTL, equivalent to approximately 2.91 per cent. of BTL’s issued share capital. BTL is listed on the TSX Venture Exchange, on which the closing mid-market price on 16 January 2018 of BTL’s common shares was C$11.17 per share which values Vela’s shareholding in BTL at approximately C$6.93 million (equivalent to approximately £4.03 million*).
ABOUT BTL GROUP LTD.
Operating from both Canada and the UK, BTL offers blockchain solutions to businesses across multiple industries, in particular the finance, energy and gaming sectors. BTL has built prototypes that showcase the capabilities of its Interbit platform, a proprietary blockchain based interbank payment network and settlement and asset trading solution.
Interbit is an open, multi-chain, asset settlement platform with a suite of APIs and smart contracts that allow businesses from across the world to provide global access to fast, secure, and auditable financial and asset trading services.
With offices in Vancouver and Canary Wharf in London, BTL is positioning itself as a front-runner in the blockchain ecosystem, providing advice and knowledge to industry leaders.
*Based on the exchange rate as on 17 January 2018 of C$1: GB£0.5823
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