The Board of Vela (AIM: VELA), the investing company focused on early-stage and pre-IPO disruptive technology investments, announces that, on 22 December 2017, the Company purchased 15,000 common shares in BTL Group Ltd (“BTL”) at an average price of C$10.1966 per share for a total consideration of C$152,949 for the Company (equivalent to approximately £90,140 at the prevailing exchange rate*) (the “Purchase”).
Following the Purchase, the Company holds 595,000 common shares in BTL, equivalent to approximately 2.90 per cent. of BTL’s current issued share capital. BTL is listed on the TSX Venture Exchange, on which the closing mid-market price on 22 December 2017 of BTL’s common shares was C$10.09 per share which values Vela’s shareholding in BTL at approximately C$6.00 million (equivalent to approximately £3.54 million*).
In addition, Vela holds a total of 25,000 warrants in BTL which are exercisable at a price of C$3.25 for a period expiring on 6 April 2019.
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 of C$1: GB£0.5893
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