Coinsilium, the London-based blockchain technology focused investment and development company, has kept users informed of happenings within the organisation with their monthly update. Some of the main points are covered below.
The Coinsilium Board has reviewed TRAC Technology Ltd against its strategy of investing in early stage blockchain focused companies and has concluded that TRAC no longer meets Coinsilium’s core criteria. As a result, the Board has decided to take advantage of an opportunity to divest its direct 27.3% shareholding in TRAC. Coinsilium will receive consideration of US$100,000 for its shares; of which 50% will be paid in cash and the remainder will be paid by the issue of 2.6m new shares in Kolar Gold Limited which will be subject to a lock-in period of three months. Kolar Gold Limited is managed by CEO Cameron Parry, a former director of Coinsilium Group Limited.