Oslo 30 September 2022 - Norwegian Block Exchange AS ("NBX" or "the Company"),
the first publicly listed cryptocurrencies exchange in the Nordics, has today
secured a provisional NOK 100 million capital commitment from LDA Capital Ltd
("LDA"), a Los Angeles based global investment group, by entering into a put
option agreement (the "POA"). This capital commitment has a maximum duration of
three years, and will be released based on drawdowns. NBX has the right to
exercise on the capital commitment at its sole discretion.
"We are very pleased with the LDA agreement. This partnership and the
international recognition it represents, fortifies our belief in NBX becoming
the preferred choice for crypto investing in the region and beyond. We are
already exploring opportunities and I am very excited about the next two years."
Said Stig Aleksander Kjos-Mathisen, CEO at NBX.
LDA Capital's commitment is an injection of up to NOK 100 million in cash within
a 3-year period, in exchange for newly issued equity from NBX. The funds will
strengthen the company's equity base and give it a comparative advantage over
peers with high-cost structures and limited access to funding. In the short
term, the NBX's focus is boosting efforts related to the release of the credit
card with cryptocurrencies rewarding, ongoing projects, and product launches.
Over the long term, NBX will develop initiatives that will fortify its offering,
creating a complete portfolio fitting the wide audience of the Nordics.
"This is a confirmation of our international efforts, and that LDA Capital
recognizes the core values and potential of NBX. This investment will allow us
to grow and expand our services, making cryptocurrencies more accessible and
attainable for anyone! In this challenging market, knowing that funds are
available to us is especially invigorating