Related Party Transaction

Supernova Digital Assets PLC

24 May 2024

 

Press Release

24 May 2024

Supernova Digital Assets PLC

("Supernova" or "the Company")

Related Party Transaction

Supernova Digital Assets (AQSE: SOL), a company specialising in the Solana ecosystem, announces that, as a result of the acquisition of the entire issued share capital of IO+ PTE Ltd ("IO+"), a company in which Supernova held a minority interest, by Flex Labs Inc (AQSE: FLEX), Supernova has been issued 771,930 Common Shares in Flex Labs Inc.

As Mike Edwards is a director of both Supernova and Flex Labs, the above transaction is deemed to be a related party transaction under the Aquis Rules. Having exercised reasonable care, skill and diligence, the directors (excluding Michael Edwards) consider that the terms of the Share Purchase Agreement entered into with Flex Labs are fair and reasonable as far as the shareholders of the issuer are concerned.

The Directors of Supernova Digital Assets PLC take responsibility for this announcement.

For further information please contact:

Supernova Digital Assets
Michael Edwards Executive Chairman	Via First Sentinel [phone]
First Sentinel
Corporate Adviser Brian Stockbridge	[phone]

About Supernova Digital Assets:

The Company will look to identify investment and business building opportunities in the high growth Solana and crypto currency ecosystem. The Board intends to deploy the majority of the Company's cash resources in the acquisition of minority interests in a number of different, yet to be identified, companies in the broad Solana and crypto currency ecosystem, and to apply expertise to the business operations and strategic plans of these companies. The experience, operational skills and contacts of the Board are intended to act as an accelerator to start-ups and early-stage companies to maximise their profit opportunity. It is anticipated that returns to Shareholders will be delivered through a combination of an appreciation in the Company's share price and through the adoption of a progressive dividend policy. The Company's Directors have an established track record, experience and networks in the crypto currency sector, digital assets management, as well as the media industry to drive value creation.

 

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