Pires Investments PLC Update on investment in the digital assets sector
March 22 2021 - 4:46AM
RNS Non-Regulatory
TIDMPIRI
Pires Investments PLC
22 March 2021
22 March 2021
Pires Investments plc
("Pires" or the "Company")
Update on investment in the digital assets sector
Pires Investments plc (AIM: PIRI), the investment company
focused on next generation technology, is pleased to provide an
update on its investment in Pluto Digital Assets plc ("Pluto"), a
technology company that is operating in the exciting digital assets
sector.
Since Pluto's recent equity funding, which raised in excess of
GBP20 million, the company continues to make excellent progress. It
is now involved with a further nine digital asset projects and is
also in discussions with several other early-stage decentralised
technology projects; some of which the company expects to be signed
in the coming weeks.
In particular, Pluto recently participated in the latest FTX (a
cryptocurrency exchange) project, Oxygen Protocol ("OXY"), a
decentralised finance ("DeFi") Prime Brokerage Protocol. The new
OXY token created as part of this project has recently successfully
listed. Pluto holds 2,000,000 OXY tokens, acquired at a price of
US$0.10 per token. Currently, OXY tokens are trading at around US$3
per token.
In addition, YOP, one of Pluto's other projects, has announced
the addition of non-fungible tokens ("NFTs") to its launchpad
aggregator. This will also allow YOP holders to gain access to new
token projects. Furthermore, YOP NFTs can now be purchased on the
secondary market or farmed by staking YOP tokens. This demonstrates
the continuing innovation of decentralised technology and new ways
of using digital assets.
As announced on 9 March 2021, Pires holds 32,518,876 shares in
Pluto which, prior to Argo Blockchain plc's further investment of
circa GBP7 million, represented a circa 6.4% shareholding in Pluto.
In addition, Pires has warrants over 24 million new ordinary shares
in Pluto.
Peter Redmond, Chairman of Pires, commented:
"We are very pleased to note Pluto's progress following its
equity fundraise earlier this month. Pluto is extremely
well-positioned to capture early-stage opportunities within the
decentralised technology sector, which is growing rapidly.
"We look forward to updating the market on Pluto's growth and
the developments relating to its pipeline of projects in due
course."
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8961
Peter Redmond, Chairman
Nicholas Lee, Director
Joint Broker
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0935
Duncan Vasey/Lucy Williams Tel: +44 (0) 20 7469 0936
Joint Broker
Tennyson Securities Tel: +44 (0) 20 3167 7221
Peter Krens
Financial media and PR
Yellow Jersey Tel: +44 (0) 20 3004 9512
Sarah Hollins
Henry Wilkinson
Notes to Editors
About Pires Investments plc
Pires Investments plc (AIM: PIRI) is an investment company
providing investors with access to a portfolio of next generation
technology businesses with significant growth potential.
The Company is building an investment portfolio of high-tech
businesses across areas such as Artificial Intelligence ("AI"),
Internet of Things ("IoT"), Cyber Security, Machine Learning,
Immersive Technologies and Big Data, which the Board believes
demonstrate evidence of traction and the potential for exponential
growth, due to increasing global demand for development in these
sectors.
For further information, visit: https://piresinvestments.com/
.
About Pluto Digital Assets plc
Pluto is a technology company that connects Web 3.0
decentralised technologies to the global economy by investing in,
incubating and advising digital asset projects based on
decentralised technologies, decentralised finance and networks such
as Ethereum and Polkadot.
Further information on Pluto can be found at
https://plutodigitalassets.com .
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