28 February
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.
Vinanz
Limited
("Vinanz"
or "the Company")
£447,750
Placing at 12 pence per Share
Vinanz
Plans to Increase Bitcoin Mining Fleet in North America
Vinanz Limited (London AQSE: BTC and
US OTCQB: VINZF), the London listed Bitcoin
mining company focusing on decentralised deployment of Bitcoin
mining clusters in multiple data facilities throughout the US and
Canada, is pleased to announce that it has raised £447,750 (gross)
at 12 pence per share, representing a premium of 6.67% to the
closing mid-price of 11.25 pence per share on 27 February 2024, and
will be used primarily to assist with raising Company awareness in
the US for its OTCQB listing and to acquire additional bitcoin
miners to boost the Company's current Bitcoin mining fleet in North
America.
The Company will also apply some of
this funding to initiate enquiries to potentially list Vinanz
shares on NASDAQ. These enquiries are at an early stage and there
is no guarantee that the Company will achieve a listing on NASDAQ,
but if it is successful in doing so it should upgrade our trading
exposure to US shareholders and may improve liquidity in the
Company's shares. The Company will seek to retain its
admission to AQSE. The Company is also investigating the
possibility of its shares being traded in Frankfurt and further
announcements will be made in due course with respect to both of
these initiatives.
This funding will see the
acquisition of new Bitcoin miners which will add to our existing
fleet of miners in the US and Canada. This next Bitcoin miner
purchase will bring in the first series of next generation S21
miners into Vinanz's fleet. These Bitmain Antminer S21s are
regarded as one of the fastest miners in the world today, with
processing speeds now pushing 200 TH per second, and will be
brought in to replace some of our older less speedy fleet and form
part of a new mining cluster to be installed in either the US or
Canada. Vinanz is now working with Luxor, its preferred supplier of
miners in the North America, to have these new miners installed and
spinning well before the anticipated Bitcoin halving in April. It's
important that Vinanz is continually upgrading its equipment within
the fleet to achieve the lowest possible operating cost and remain
competitive, as we transition through the next halving.
David Lenigas, Vinanz's Executive Chairman,
said:
"It's fantastic that we have managed to raise this money at a
premium to yesterday's mid-market share price in Vinanz on Aquis.
With the next Bitcoin halving fast approaching and the excellent
institutional uptake of the spot 1:1 Bitcoin ETFs in the US having
recently been approved by the US SEC, the board of Vinanz thought
it highly prudent to increase the number of spinning Bitcoin miners
in North America as soon as possible."
"No one really knows what's going to happen to the Bitcoin
price through 2024 and beyond, but the consensus from many analysts
suggest a strong rise could occur to the Bitcoin price if
historical halvings are anything to go by. Raising fresh equity now
to increase the mining fleet puts the Company into a stronger
financial position going forward."
"Our model of building out decentralised mining clusters
through third-party data centres in North America, without owning
the infrastructure, is one that the board is hard wired into. We
have minimal corporate costs, we don't have to or want to pay for
expensive infrastructure, and we feel the decentralised cluster
approach de-risks our roll-out strategy and makes our business
model very scalable."
Placing and Total Voting
Rights
A placing agreement was entered into
by the Company and Clear Capital Markets ("CCM") on 27 February
2024 to raise gross proceeds of £447,750 through the placing of
3,731,250 new Ordinary Shares ("Placing Shares") at a price of 12
pence per share ("Placing Price"). The Placing Price represents a
premium of 6.67% to the closing mid-price of 11.25 pence per share
on 27 February 2024.
Application will be made to the
Aquis Stock Exchange for admission of the 3,731,250
Placing Shares to
trading on Aquis. It is expected that admission will become
effective and dealings in the Placing Shares will commence on Aquis
at 8.00 a.m. on or around 6
March 2024 (or such later date as may
be agreed between the Company and the CCM).
The Placing Shares will be issued
fully paid and will rank pari passu in all respects with
the Company's existing Ordinary Shares.
Following Admission, the total
number of Ordinary Shares in the capital of the Company on issue
will be 131,889,756 with voting rights. This 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's issued share capital pursuant to
the Company's Articles.
About Vinanz
Vinanz is listed on the London Aquis
markets and is building out a fully-fledged Bitcoin mining company
initially focusing on installing clusters of Bitcoin miners within
multiple facilities throughout the US and Canada through
third-party cryptocurrency mining providers. Whilst the Company
will focus initially on BTC mining, it will also consider the
mining of other cryptocurrencies, and operations in the DeFi and
Big Data space in the future. The Company intends to be able to
provide a listed UK platform to offer entry to the technology and
cryptocurrency business.
The Company's admission document is
available to view on its website www.vinanz.co.uk
The directors of Vinanz Limited
accept responsibility for this announcement.
For further information please
contact:
Vinanz Limited
David
Lenigas
david@vinanz.co.uk
Jeremy
Edelman
jeremy@vinanz.co.uk
First Sentinel (Corporate Adviser and
Broker)
Brian
Stockbridge
brian@first-sentinel.com
+44 (0) 20 3855 5551
Clear Capital Markets (Broker)
Bob
Roberts
bobroberts@clear-cm.co.uk
+44 (0) 20 3869 6080