Pluto acquires YOP DeFi Project

RNS Number : 7101N

Pires Investments PLC

01 October 2021

 

  1 October 2021

Pires Investments plc

("Pires" or the "Company")

Pluto acquires YOP DeFi Project

Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to provide an update on its investment in Pluto Digital Assets plc ("Pluto"), a technology company that is operating in the exciting digital assets sector.

Following Pluto's recent announcement of its strategic NFT partnership, the company today announced that it has acquired the assets of the innovative DeFi project, Yield Optimisation Platform ("YOP"). Pluto intends to reimagine, redevelop and relaunch the YOP platform and to support the existing protocol, community and $YOP token.

Pluto plans to deliver YOP's vision of 'DeFi For Everyone' to the fullest extent possible. Pluto will be allocating significant budget and human resources to building a best-in-class quality decentralised finance ("DeFi") platform, which will drive value through the $YOP token.  Pluto has established a tech team to re-design and redevelop the YOP platform, initially as a Web 3.0 platform, which can deliver significant value and continue to grow the community of $YOP token holders. Taking on the assets, which include the $YOP tokens, IP, brand, and website, Pluto will be rebuilding the YOP platform to relaunch as YOP 2.0.

The Board believes that this acquisition represents a good opportunity for Pluto and understands that it was achieved on attractive terms.  Following the announcement, the price of the YOP tokens increased substantially, further confirming the value of Pluto's involvement with the YOP project.

As announced on 9 March 2021, Pires holds 32,518,876 shares in Pluto and warrants over 24 million new ordinary shares in Pluto, subject to certain vesting conditions.

Nicholas Lee, Director of Pires, commented:

"Following shortly after the announcement of its partnership in the NFT space, this acquisition clearly demonstrates the rapid progress that Pluto is continuing to make in this very exciting sector.  We look forward to further developments as the company proceeds towards its IPO."

Enquiries:
 

Pires Investments plc Nicholas Lee, Director	Tel: [phone]
Joint Broker Peterhouse Capital Limited Duncan Vasey/Lucy Williams	Tel: [phone] Tel: [phone]
Joint Broker Tennyson Securities Peter Krens	Tel: [phone]
Financial media and PR Yellow Jersey Sarah Hollins Henry Wilkinson Annabelle Wills	Tel: [phone]

Notes to Editors

About Pires Investments plc

Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.

The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.

For further information, visit: https://piresinvestments.com/ .

About Pluto Digital Assets plc

Pluto Digital PLC (Pluto) is a crypto technology and operations company whose goal is to bring Decentralised Finance (DeFi) and Metaverse (blockchain gaming and NFTs) to the global economy. Pluto is making DeFi available to everyone through products and services created by Pluto's software development Labs division, new yield farming strategies through Pluto's Yield division and collaborating with emerging DeFi projects and the NFT metaverse through Pluto's Ventures division.

Further information on Pluto can be found at  https://plutodigitalassets.com .

About YOP

YOP is a mobile based DeFi platform which focuses on making DeFi accessible to everyone via a series of protocols which provide products via a personalised dashboard. The YOP platform is fueled by the $YOP token and powered by the Ethereum ecosystems. Users holding YOP tokens in their wallet unlock premium services within the app.

Further information on YOP can be found at: https://yop.finance  

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained in this announcement is of a non-regulatory nature. 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.

 

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