This announcement replaces the announcement issued at 07.00 today, correcting a typographical error in the third highlight.
8 June 2017
COINSILIUM GROUP LIMITED
(“Coinsilium” or the “Company”)
COINSILIUM INVESTS IN INDORSE.IO DECENTRALISED PROFESSIONAL NETWORK
• Investment of SG$100,000 (circa £56,100) completed in Indorse Pte. Ltd., a Singapore-based company developing Indorse (www.indorse.io)
• Indorse is a unique blockchain-powered, skill-based, decentralised professional network
• Indorse aims to revolutionise professional social networking using new models of tokenization and decentralisation
• Coinsilium CEO, Eddy Travia, to join the Indorse Board of Advisors
Coinsilium Group Limited (NEX: COIN), the accelerator that finances and manages the development of early-stage blockchain technology companies, is pleased to announce the completion of its investment of SG$100,000 (circa £56,100) in Indorse Pte. Ltd. (“Indorse”) through a convertible loan agreement. Indorse is a Singapore-based company developing a blockchain-powered decentralised professional network. In addition, Coinsilium will receive an entitlement to an undisclosed number of Indorse digital tokens to be issued by Indorse in the next few months.
Indorse is a professional social networking platform co-founded by David Moskowitz and Gaurang Torvekar. Indorse’s co-founders’ have demonstrated their ability to successfully deploy blockchain technology and smart contract solutions for private companies and public institutions in Singapore, including the issuance of digital diplomas onto the blockchain for one of Singapore's leading institutions of higher learning.
The Indorse platform will be integrated with a number of decentralised applications (DApps) such as: Attores Certificate Issuance Platform, Inter Planetary File System (IPFS), uPort identity system, Truffle, Spectrum and Status.
Coinsilium’s CEO Eddy Travia has accepted the invitation to join the Board of Advisors at Indorse.
Eddy Travia, CEO of Coinsilium, stated: “We are very excited to invest and support skill-based professional network Indorse and its founding team. As the multiple benefits of decentralised platforms become apparent to the millions of members of today’s centralised social media networks we believe there will be a natural pattern of migration towards this new generation of decentralised platforms. Indorse will also allow users to profit from sharing their skills and activities on the platform via reward tokens. This is a new and game-changing model in a multi-billion-dollar social media industry and we are confident that Indorse has the requisite skills and talent to propel Indorse to become one of the world’s most popular decentralised social platforms.”
David Moskowitz, Co-Founder and CEO of Indorse, commented: “We are very proud to join the prestigious roster of Coinsilium’s portfolio companies and we look forward to Coinsilium’s support and guidance. Indorse has the aim to revolutionise professional social networking using new models of tokenisation and decentralisation and we believe that Coinsilium’s expertise and deep knowledge in this space will be a strategic advantage to reach our goals.”
The Directors of Coinsilium Group Limited take responsibility for this announcement.
For further information, please contact:
Eddy Travia, CEO +44 (0) 207 099 0740
Coinsilium Group Limited
Malcolm Palle, Non-executive Director +44 (0) 7785 381089
Coinsilium Group Limited
Harry Chathli / Ana Ribeiro / Alexis Gore +44 (0) 207 618 9100
Luther Pendragon Ltd
Guy Miller / Mark Anwyl +44 (0) 207 469 0930
Peterhouse Corporate Finance Limited
(NEX Exchange Corporate Adviser)
Nick Emerson / Andy Thacker +44 (0) 1483 413 500
SI Capital Limited
Notes to Editor
Coinsilium is an accelerator that finances and manages the development of early-stage blockchain technology companies. It does this through its consortium of top-tier investors, industry thought leaders and executive managers. Based in London, Coinsilium’s focus is on driving innovation in fintech and blockchain technologies, enabling businesses to take advantage of growth opportunities.
Coinsilium shares are traded on NEX Exchange Growth Market, the primary market for unlisted securities operated by NEX Exchange, a Recognised Investment Exchange under the Financial Services and Markets Act 2000.
For further information about Coinsilium please visit http://www.coinsilium.com
For further information about Indorse please visit http://www.indorse.io