Coinsilium Group Limited (NEX:COIN), the London-based blockchain venture investment fund, has confirmed today that the sale of the company’s shareholding in SatoshiPay to Blue Star Capital has now been completed.
The transaction followed an agreement by Coinsilium to sell its entire holding of 2,133 shares in SatoshiPay to Blue Star Capital at the price of €340 per share for a total consideration in cash of €725,220.
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Under the terms of the Purchase and Sale Agreement, Coinsilium will also receive 85 million warrants over new Ordinary Shares of Blue Star, of which 42.5 million are exercisable at a price of 0.6 pence per Ordinary Share and 42.5 million are exercisable at a price of 0.8 pence per share for a 3-year period from completion of the acquisition.
Eddy Travia, Coinsilium CEO, commented: “We are delighted to announce the successful completion of this transaction; the proceeds from which, together with our prevailing resources provide the Company with more than sufficient funding for our current pipeline of prospective investment and projects.
This is a most exciting time to be at the forefront of the Blockchain Technology industry and the emerging Token Economy. We look forward to announcing some exciting developments to the market in the near term.”
SatoshiPay is developing a two-way payment platform, which enables online content providers to monetise their digital content through the acceptance of nanopayments. SatoshiPay is headquartered in London with development led through its office in Berlin.