On October 25th, Valereum Blockchain PLC acquired an 80% stake in Gibraltar Stock Exchange from Global Exchange Group, and Global Exchange Group will retain a 20% stake.
The transaction details were not disclosed in the section. In addition, Valereum said the company issued 5 million new shares at a price of 40 pence per share and raised 2 million pounds before deducting expenses. In the next one and a half years, investors will receive 80 pence warrants per share for every two new shares they purchase.
These new shares are equivalent to 7.0% of the company’s expanded capital. Valereum said that the acquisition also needs to be approved by the Gibraltar Financial Services Commission, and Valereum will seek approval to turn the exchange into a trading venue that supports fiat and cryptocurrencies (including Bitcoin and Dogecoin).