04/03/2018 | Press release | Distributed by Public on 04/03/2018 02:12
Angelfish Investments plc ('Angelfish' or 'the Company')
Further Update on Investment
The Directors of Angelfish announce the following update on its investment in One Media Enterprises Limited ('OME').
On 22 December 2017, Angelfish announced that OME had been acquired by OneLife Technologies Corp. ('OneLife') a public company listed on the OTC:US with a ticker symbol 'OLMM'.
To facilitate this acquisition, OME agreed to repay in full the investment and loans made to date by Angelfish together with payment of management fees charged and an uplift on amounts due ('the Agreement'). The Agreement provides for an amount payable to Angelfish of US$1,000,000 in cash in instalments ('Cash Payment') plus the issue to Angelfish of 200,000 shares of Common Stock in OneLife and warrants to subscribe for 200,000 shares of Common Stock in OneLife, exercisable at US$1 per share for a period of five years from the date of grant.
OneLife has been given 'Caveat Emptor' Buyer Beware status by OTC Markets as a result of OTC becoming aware of promotional activities being undertaken by third parties in respect of OneLife's common stock. Caveat Emptor is expected to be lifted during the first half of April which will then allow OneLife to raise additional funds.
Angelfish has agreed to extend the period for the first instalment of the Cash Payment to allow OneLife to pursue a substantial fund raising which would enable it to continue its business development and result in a positive outcome for both OneLife and Angelfish.
Further updates on OneLife and the progress of the Cash Payment will be made as they become available.
This announcement contains information which, prior to its disclosure, was inside information for the purposes of Article 7 of EU Regulation 596/2014.
The directors of the Company take responsibility for this announcement.
Angelfish Investments Plc +44 (0)7769 591096
Cairn Financial Advisers LLP +44 (0)207 213 0880
NEX Exchange Corporate Adviser
David Coffman / Richard Nash
About Angelfish Investments plc
The Company's Ordinary Shares and Preference Shares are admitted to trading on the NEX Exchange Growth Market in London. The Company has the trading symbol ANGP for its Ordinary Shares and the trading symbol ANGS for its Preference Shares.