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FATFISH GROUP LIMITED — Capital/Financing Update 2018
Mar 5, 2018
64911_rns_2018-03-05_f7409322-f0f1-4410-947d-8339416632fc.pdf
Capital/Financing Update
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Fatfish Internet Group Ltd (ACN 004 080 460) Level 4, 91 William Street Melbourne VIC 3000 Australia www.fatfish.co
ASX and Media Announcement
6 March 2018
Fatfish Appointed As Blockchain Advisor to London Football
Exchange
ASX-listed international venture builder Fatfish Internet Group Limited (ASX Code: FFG) (“FFG” and “the Company”) is pleased to announce that FFG has today been appointed by London Football Exchange Ltd (“LFE”) as its Blockchain Advisor in Asia.
LFE is UK based company and will become the World’s first blockchain based football club stock exchange. As a group, the London Football Exchange (“LFE”) is a financial, technology, media and entertainment company that intends to operate globally in the professional association football (soccer) industry. The LFE Token which has been created by U.S Blockchain and Regtech innovator Securrency Inc, will be the underlying cryptocurrency powering the LFE Group, which will allow football fans globally rto receive frictionless engagement with their favourite clubs from point of sale in stadium benefits, ticketing and indeed the world’s first blockchain powered football club equity exchange.
Thre are three primary components provided by LFE to its partnered football clubs and the global football fanbase for a global engagement experience:
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Firstly, the LFE Token enables the global economy running the loyal fan experiences with payments, rewards and other related services. The LFE token will not only be used in the LFE Market, but within participating venues and their surrounding business community.
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The second is the LFE Exchange where it will be a licensed Multi-lateral trading facility (‘MTF’) trading platform supporting the final component. (see below)
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Fatfish Internet Group Ltd (ACN 004 080 460) Level 4, 91 William Street Melbourne VIC 3000 Australia www.fatfish.co
- Global fan ownership where any fan can buy, trade or sell on LFE Exchange for their club of choice.
With the appointment FFG will work closely with LFE to identify suitable blockchain and cryptocurrency technology companies to be plugged into LFE’s current and future operation. FFG’s subsidiary, Singapore based CryptoFoundry Pte. Ltd. will be appointed by LFE to assist LFE to marketing and managing its online community across Southeast Asia. The commercial arrangement between FFG and LFE for this project involves multiple engagement arrangement that sees FFG and CryptoFoundry Pte. Ltd. being remunerated in both Ethereum tokens (ETH) and the LFE tokens.
Soccer is a very popular sport in Europe, Asia, America and Africa. It has an estimated fan base of 3.6 billion people across those continents.
“We are delighted to be working with Fatfish Intrenet Group. With its extensive experience in building ventures in blockchain and cryptocurrency space we hope to be able to get valuable insight and domain expertise in best practices of the emerging technology and application the cryptocurrency and blockchain for our operation. For the LFE being in Asia is a huge attraction, this is a huge step for us to demonstrate our commitmmet of becoming a serious force in the Asia Pacific marketplace. ”, commented Charles Pittar Chief Executive of the LFE.
“We are thrilled to be able to work with an exciting world-class innovative venture such as London Football Exchange. We see a lot of synergies between the activities and plan of the London Football Exchange and some of our ventures in crypto and consumer internet space across Europe and Asia. We hope to be able to work closely with London Football Exchange on ongoing basis” commented Kin W Lau, CEO of FFG.
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Fatfish Internet Group Ltd (ACN 004 080 460) Level 4, 91 William Street Melbourne VIC 3000 Australia www.fatfish.co
Cautionary Statement – Cryptocurrency Related Business Activities
FFG notes the following in relation to cryptocurrency-relaed business activities:
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Investment into cryptocurrencies is high risk in nature as cryptocurrencies are curently highly speculative
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Cryptocurrency-related businesses have a number of other risks factors, including but not limited to the following:
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I. The development of new regulatory framework involving cryptocurrencies
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II. Cryptocurrencies, cryptocurrency exchanges and its related topics of Initial Coin Offerings (ICO) have raised regulatory issues across multiple jurisdicitons. A number of regulators have issued guidance on the relevance of their existing securities and financial services laws with regards to ICOs that have underlying cryptographic tokens that are securities or investment in nature.
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III. The regulatory status of ICOs in some of these overseas jurisdictions is subject to potential changes and increasingly stringent regulatory oversight.
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IV. in many countries cryptocurrencies are subject to anti-money laundering and counter-terrrorism funding legislations.
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For its cryptocurrency-related business activities FFG has and will always endeavour to the best of its ability to ensure that FFG and its subsidiaries comply with relevant local in-country regulatory requirement.
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About Fatfish Internet Group
Fatfish Internet Group Ltd (ASX Code: FFG) is a publicly traded international venture
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Fatfish Internet Group Ltd (ACN 004 080 460) Level 4, 91 William Street Melbourne VIC 3000 Australia www.fatfish.co
investment and development firm. FFG partners with entrepreneurs and experienced executives to build and grow tech businesses via a co-entrepreneurship model. FFG focusses on emerging global technology trend, specifically FFG has been investing strategically across various sectors of cryptocurrency, fintech and consumer internet technologies.
FFG operates from its international venture hubs located in Singapore, Kuala Lumpur and Stockholm.
For further question on this release, please contact Investor Relations Team [email protected] or visit www.fatfish.co