Update re. BlockchainK2 Investment in RealBlocks

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: [phone]
Brent Fitzpatrick, Non-Executive Chairman Antony Laiker, Director
Allenby Capital Limited (Nominated Adviser)	Tel: [phone]
Nick Athanas/Asha Chotai
Smaller Company Capital Limited (Joint Broker)	Tel: [phone]
Rupert Williams/Jeremy Woodgate
SVS Securities Limited (Joint Broker)	Tel: [phone]
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. 

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