Torbjørn Bull Jenssen appointed as the new CEO of Vertical Ventures (under change of name to Arcane Crypto AB)
The new members of the Board of Directors of Vertical Ventures AB (publ) (under change of name to Arcane Crypto AB) (the "Company"), elected by the Extraordinary General Meeting held on 11 January 2021, have now assumed their roles and have appointed Torbjørn Bull Jenssen as the new CEO of the Company.
The new members of the Board of Directors, Jonatan Raknes (chairman), Anna Svahn, Kristian Kierkegaard and Viggo Leisner, have assumed their roles as members of the Board of Directors of the Company, as the registration with the Swedish Companies Registration Office (Sw. Bolagsverket) of the share issue resolved by the Extraordinary General Meeting held on 11 January has been completed.
The new Board of Directors has appointed Torbjørn Bull Jenssen as the new CEO of the Company, in accordance with the press release published by the Company on 11 January 2021. Torbjørn Bull Jenssen will take up his position as soon as possible and will replace Jonas Litborn as CEO of the Company.
Torbjørn Bull Jenssen is currently the CEO of Arcane Crypto AS, a company that the Company has acquired through a reversed acquisition on the terms set in the press release published by the Company on 11 January 2021. More information regarding Torbjørn Bull Jenssen's experience can be found in the Company Description published by the Company on 21 December 2020.
Press release 15 January 2021.
For further information, please contact:
Torbjørn Bull Jenssen, CEO, Vertical Ventures AB (publ) (under change of name to Arcane Crypto AB)
About Arcane Crypto (under change of name from Vertical Ventures)
Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain for digital finance. As a group we deliver services targeting payments, investment, and trading. In addition, we have a media and research leg.
Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting edge projects, and through acquisitions and consolidation.
Aktieägarna i Arcane Crypto AB, org. nr. 556668-3933 ("Arcane Crypto" eller "bolaget"), kallas härmed till extra bolagsstämma att hållas fredagen den 19 mars 2021.
Arcane Crypto AB has published an updated company presentation, to be presented in the webcast with CEO Torbjørn Bull Jenssen today at 10.00am CET Investors, analysts, and media are invited to follow the webcast.
The report, which can be found at https://investor.arcanecrypto.se/, provides details of the Company's financial performance throughout 2020. Additionally, in connection with the acquisition of Arcane Crypto AS the company entered a re-listing process at Nasdaq First North. The re-listing process was successfully completed, and the company received a preliminary approval from Nasdaq on December 4th, 2020. Arcane Crypto AS was formally acquired on January 11th, 2021 and hence not being consolidated in these numbers. Except for in the section regarding significant events post the balance sheet date, the CEO comments and information on group structure and operations, this report does not contain information related to Arcane Crypto AS and its business.
Arcane Crypto completes a directed new share issue of 99,000,000 new shares, raising proceeds of approximately SEK 49.5 million from Lucerne Capital Management and Klein Invest.
Arcane Crypto AB ("Arcane Crypto" or the "Company") has on 17 February 2021, through a press release, announced that the Company has signed a binding application agreement with two potential investors following a previously announced non-binding term sheet. Arcane Crypto's board of directors has now, pursuant to the authorization granted by the Company's extraordinary general meeting held on 11 January 2021, resolved on and carried out a directed issue of 99,000,000 shares (the "Share Issue") and a directed issue of 49,500,000 warrants of series 2021/2022 (the "Warrant Issue") to the investors Lucerne Capital Management, L.P and Klein Invest AS (the "Directed Issues"). Each (1) warrant of series 2021/2022 entitles the holder to subscribe for one (1) new ordinary share in the Company during the period commencing when the warrants are registered with the Swedish Companies Registration Office up to and including 16 February 2022. The subscription price per share exercised through a warrant of series 2021/2022 is SEK 0.50. Through the Directed Issues Arcane Crypto may, upon full exercise of the warrants, receive proceeds amounting to maximum approximately SEK 74.25 million before deduction of transaction costs.
Arcane Crypto enters into binding application agreement with investors as envisaged by non-binding term sheet announced on 16 February 2021.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.
On 16 February 2021, Arcane Crypto AB ("Arcane Crypto" or the "Company") announced through a press release that the Company had entered into a non-binding term sheet with Lucerne Capital Management, L.P ("LCM") and Klein Invest AS ("Klein Invest") regarding an issue of new shares and warrants in the Company. Today LCM and Klein Invest have entered into an application agreement regarding the subscription of such shares and warrants (the "Application Agreement").
Arcane Crypto has entered into a term sheet with Lucerne Capital Management and Klein Invest AS regarding an investment of approximately USD 6 million in Arcane Crypto
Arcane Crypto AB ("Arcane Crypto" or the "Company") has today, 16 February 2021, signed a non-binding term sheet with two potential investors, with the following key terms.
Arcane Crypto AB: Trading update from Arcane Crypto in relation to negotiation with two potential investors
Arcane Crypto AS ("Arcane") increases its ownership in Puremarkets Limited ("Puremarkets") to 37.5%.
Vertical Ventures' change of name to Arcane Crypto AB has been registered and the first day of trading with the new name will be on 5th February 2021
On 11 January 2021, an Extraordinary General Meeting in Arcane Crypto AB (the "Company" or "Arcane Crypto"), previously Vertical Ventures AB (publ), resolved on inter alia an issue of shares, amendment of the Articles of Association and change of the company name. The change of name to Arcane Crypto AB has now been registered with the Swedish Companies Registration Office (Sw. Bolagsverket) and the first day of trading with the new company name will be on 5th February 2021. Due to the change of name, the Company's ticker on Nasdaq First North Growth Market will be changed to ARCANE.
Arcane Crypto AB