Vinergy to Invest in the Crypto Exchange Business
Vancouver, British Columbia--(Newsfile Corp. - April 22, 2021) - Vinergy Capital, Inc. (CSE: VIN) (OTCQB: VNNYF) (FSE:1V70) ("Vinergy" or the "Company") , a capital allocator in high growth and high impact public sectors, is pleased to announce that it has commenced negotiations. The initial acquisition contemplates a 25% equity position in an American FinTech Company controlling the Intellectual property, licensing rights, and operational ownership of the CoinTraders app and www.cointraders.io. The Company is currently developing the International Crypto Exchange to operate from the Bahamas and have the full operational launch during Q3 2021. The Platform, upon launch, will only onboard non-US investors and will only list Cryptocurrencies and Utility Tokens on the exchange.
Expected Features of the Platform include:
- Fully featured exchange order book allowing users to trade cryptocurrency, utility tokens, and blockchain-backed security tokens.
- Trades are instantly settled as opposed to the industry standard 2-day clearing period.
- 24/7 trading markets with zero commissions
- No deposit or withdrawal limits
- Fast and easy KYC onboarding
- Intuitive and user-friendly interface available on iOS & Android
- High Performance - 10M + Transactions per Second
"We are very pleased with the progress made with our first investment, which is on track to solidify themselves as a trusted online exchange that trades security tokens, cryptocurrencies, and utility tokens, and we believe they will capture a large portion of the growing market," said Vinergy CEO Todd Violette. "This exchange will allow for trading of both utility and security tokens. At the moment, there is no dominant platform for trading security tokens, and this market alone is forecasted to reach a $2 trillion valuation by 2030," continued Todd Violette, Vinergy CEO.
In consideration for the purchase of the 25% of equity ownership, Vinergy may issue up to 5,000,000 common shares of Vinergy and cash payments of up to USD 500,000. In conjunction with the closing of the investment, Vinergy may also pay a finder's fee to an arm's length party. All securities issued connected with the investment in Vinergy will be subject to a four-month-and-one-day statutory hold period per applicable securities law. Upon completing the acquired equity position, Vinergy shareholders will be directed to the Apple App Store and Google Play to download the app.
Completion of the investment is subject to several conditions, including, but not limited to, completion of due diligence, negotiation of definitive documentation, and the receipt of any required regulatory approvals. The proposed investment is not expected to constitute a fundamental change for the Company, nor is it expected to result in a change of control of the Company, within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Vinergy Capital Inc.
Alnoor Nathoo, Chairman of the Board
Cautionary Statement Regarding "Forward-Looking" Information
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity, and achievements to differ materially from those expressed or implied by such information.
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