DLT ASA
DLT ASA
07/04/2022 | Press release | Distributed by Public on 07/03/2022 23:07
DLTx sells its stake in Nova Orbis for +7x gain
Tid04.07.2022, 05:00:00
MeldingsID566347
UtstederIDDLTX
InstrumentDLTX
MarkedOslo Børs
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DLTx sells its stake in Nova Orbis for +7x gain
(Oslo, 1 July 2022) DLTx ASA (DLTx, OSE: DLTX) announces that it has sold its stake in Nova Orbis Inc. for USD 1.5 million.
Nova Orbis Inc., a platform to convert private paper-based contracts and investor subscriptions into a seamless digital onboarding workflow, was one of the assets Distributed Ledger Technologies LLC contributed to the transaction which created DLTx in March of last year. In the transaction the stake was valued at USD 201,772, which means that DLTx made a +7x gain on the sale.
"As an early supporter we are taking a significant gain from the sale of our stake in Nova. We believed in the company since the beginning and are proud of the development they have seen since those early days. I believe this transaction shows the potential of the assets brought into DLTx last year, and I am excited to see what the other companies in our portfolio can achieve" says DLTx Chief Strategy Officer David Johnston.
For further information, please contact:
Thomas Christensen, CEO, +47 922 55 444
About DLTx | www.DLTx.com
DLTx is a vertically integrated technology company expanding Web3 by deploying blockchain infrastructure at scale across major global industries. We are decentralists who believe in the new economy that's powered by cryptographic digital assets. Our team has been at the forefront of developing and launching 10 of the most important protocols in the blockchain space including Ethereum, developed the first blockchain investment fund in 2014, built out massive scale mining infrastructure since 2015, and now operates the first publicly traded company focused on powering Web3.
Nova Orbis Inc., a platform to convert private paper-based contracts and investor subscriptions into a seamless digital onboarding workflow, was one of the assets Distributed Ledger Technologies LLC contributed to the transaction which created DLTx in March of last year. In the transaction the stake was valued at USD 201,772, which means that DLTx made a +7x gain on the sale.
"As an early supporter we are taking a significant gain from the sale of our stake in Nova. We believed in the company since the beginning and are proud of the development they have seen since those early days. I believe this transaction shows the potential of the assets brought into DLTx last year, and I am excited to see what the other companies in our portfolio can achieve" says DLTx Chief Strategy Officer David Johnston.
For further information, please contact:
Thomas Christensen, CEO, +47 922 55 444
About DLTx | www.DLTx.com
DLTx is a vertically integrated technology company expanding Web3 by deploying blockchain infrastructure at scale across major global industries. We are decentralists who believe in the new economy that's powered by cryptographic digital assets. Our team has been at the forefront of developing and launching 10 of the most important protocols in the blockchain space including Ethereum, developed the first blockchain investment fund in 2014, built out massive scale mining infrastructure since 2015, and now operates the first publicly traded company focused on powering Web3.