Press Release
18 March 2024
This announcement contains
information which, prior to its disclosure, was inside information
as stipulated under Regulation 11 of the Market Abuse (Amendment)
(EU Exit) Regulations 2019/310 (as amended). Upon the publication
of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public
domain.
Supernova Digital Assets
PLC
("Supernova" or "the Company")
Acquisition of
Hyperslot
Supernova Digital Assets (AQSE:
SOL), a company specialising in the Solana ecosystem, is pleased to
announce the completion of its acquisition of the entire issued
share capital of Hyperslot PTE Limited ("Hyperslot") for a total
consideration of £225,000, which is to be satisfied with the issue
of 150,000,000 new Ordinary Shares of £0.001 each in the Company at
an issue price of 0.15p per share ("Consideration
Shares").
Application will be made for the
Consideration Shares, which will rank pari passu with the existing Ordinary
Shares in issue, to be admitted to trading on the AQSE Growth
Market ("Admission"). Dealings are expected to commence on or
around 21 March 2024.
The Share Purchase Agreement (SPA)
also contains the customary warranties, covenants, undertakings and
conditions attached to a transaction of this nature. Furthermore,
the Consideration Shares will be subject to a lock-in agreement for
six months from completion.
Total Voting Rights
Following Admission, the Company's
total issued and voting share capital will consist
of 1,603,225,646 Ordinary Shares. The Company does not hold
any Ordinary Shares in treasury.
The above figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's
Disclosure and Transparency Rules.
About Hyperslot
Hyperslot is a Solana (SOL)
validator company which has a compelling thesis around the future
of the SOL in the developing world, with their core thesis being
that it can build the largest developing world validator network,
focusing on South America, Asia and Africa. The Company already has
over 1,500 of their SOL ($250,000 USD) staked on their network and
is targeting a pipeline over 115,000 SOL in the near
term.
Strategic Rationale
Supernova's vision is that the
unprecedented growth of the SOL blockchain in the last 12 months
will continue to grow at pace and eventually become the dominant
global Layer 1. SOL is more scalable, faster and cheaper than
Ethereum which is why it has the fastest growing total value locked
(TVL), projects and developers.
The acquisition importantly includes
their SOL which, assuming an 8% yield, makes this acquisition break
even in year one based on their SOL alone. Hyperslot's proprietary
Maximum Extractable Value (MEV) Bot technology is also included in
the acquisition.
Michael Edwards, Executive Chairman of Supernova Digital
Assets, commented: "Having pivoted
our strategic focus to the Solana digital asset ecosystem, we
believe the Solana network has the power to drive substantial and
enduring growth in the future. Our acquisition of Hyperslot allows
us to own the opportunity to build the largest validator network in
the developing world, where they have the highest adoption of
cryptocurrency. By investing in the Solana network, we can build
and develop a foundational technology of the future and maximise
shareholders returns."
The Directors of Supernova Digital Assets PLC take
responsibility for this announcement.
For further information please
contact:
|
Supernova Digital Assets
|
|
|
Michael Edwards
Executive Chairman
|
+44
7858 888 007
|
|
First Sentinel
|
|
|
Corporate Adviser
Brian Stockbridge
|
+44
7858 888 007
|
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.
