Net Asset Value • Mar 19, 2018
Net Asset Value
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National Storage Mechanism | Additional information
RNS Number : 0658I
TechFinancials Inc.
19 March 2018
19 March 2018
TechFinancials, Inc.
("TechFinancials, the "Company" or the "Group")
Update on CEDEX token pre-sale event
TechFinancials is pleased to provide an update on Cedex Holdings Ltd ("CEDEX"), a company in which it currently has a 2 per cent interest and an option to acquire a further 90 per cent, which would give TechFinancials up to 92 per cent of CEDEX or 87.4 per cent on a fully diluted basis. CEDEX is a blockchain-based on-line exchange for diamonds.
Following the notification of the CEDEX token pre-sale event, announced on 16 March 2018, TechFinancials is pleased to announce that the event completed successfully. Notably, CEDEX hit its target of selling 25 million CEDEX token, at a price of 1ETH=900 CEDEX tokens.
With the completion of the pre-sale event, the main sale started on 17 March 2018 at 10:00, and will continue to run until 17 April 2018, or until the hard cap[1] of 50M CEDEX tokens sold is achieved.
The token sale utilises TechFinancials' proprietary technology of crypto payment processing and crypto feed products, which enables the crypto currency processing of Bitcoin, Ethereum and Bitcoin cash throughout. In addition, the Company has facilitated all other technological aspects of the token sale such as smart contract development, website development, and back office management.
Asaf Lahav, CEO of TechFinancials commented:
"We are excited to announce that the CEDEX pre-sale event has completed, using TechFinancials' technology, which has been developed over the past six months since we entered the blockchain market. Whilst offering CEDEX our proprietary technology, we are pleased to have been able to provide the company with a 360° solution in order to meet its operational needs."
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For further information:
| TechFinancials, Inc. | |
| Asaf Lahav, Group Chief Executive Officer | |
| Yuval Tovias, Chief Financial Officer | www.techfinancials.com |
| Grant Thornton UK LLP (Nominated Adviser) | |
| Colin Aaronson / Samantha Harrison | Tel: +44 (0) 20 7383 5100 |
| Northland Capital Partners Limited (Joint Broker) | |
| David Hignell/ John Howes | Tel: +44 (0) 20 3861 6625 |
| Peterhouse Corporate Finance (Joint Broker) | |
| Lucy Williams / Eran Zucker | Tel: +44 (0) 20 7469 0932 |
Media enquiries:
| Yellow Jersey (Media Relations) | |
| Charles Goodwin / Katie Bairsto | Tel: +44 (0) 7748 843 871 |
About TechFinancials
TechFinancials, Inc (AIM: TECH) is a leading innovator and supplier of financial trading solutions for retail clients. The Group operates a B2B division licensing white label trading platform solutions to online brokers. In addition, the Company operates a B2C division operating trading platform incorporating a strategic joint venture focusing on solutions for traders in the Asia Pacific region.
Further information can be found at http://techfinancials.com.
[1]'Hard cap' - the total issuance of a coin that will be created
This information is provided by RNS
The company news service from the London Stock Exchange
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