QuickBit eu AB (publ) acquires Rockmint Limited in Gibraltar
Swedish cryptocurrency company QuickBit eu AB (publ) has acquired Rockmint Limited in Gibraltar. The acquisition is made from Celoxo Limited and will lead to QuickBit establishing operations in Gibraltar with immediate effect. The move to domicile QuickBit’s activities in a reputable jurisdiction that is able to rapidly adapt its legislation to regulate new disruptive technologies is critically important in supporting enhanced activity with core accounts.
On March 26, 2018, QuickBit announced that the company has decided to establish its operations in Gibraltar, as the new legislation in the territory provides a stable framework for developing the company in a fast-growing cryptocurrency market.
In March 2018 a Letter of Intent was signed with Celoxo Limited, owner of the Gibraltar based company Rockmint Limited. Negotiations and due diligence was conducted during March and April, and the purchase agreement has now been completed.
Rockmint Limited was established in 2017 and owns software and customer databases that are well-suited for further development of QuickBit's operations. The company had intented to start operations in Gibraltar in QuickBit's niche in 2018.
”By acquiring an existing business, QuickBit achieves several things; it enables a smooth and fast route to establishing operations in Gibraltar as well as access to software and a customer database that enhances the company's own systems for anti-fraud control as it facilitates access to thousands of customers who previously traded with crypto exchange,"said Reinhold Konnander, CEO of QuickBit.
The purchase price for all shares in Rockmint Limited is SEK 9.6 million. Liquidity is paid through a set-off issue in QuickBit at the price of SEK 2.40 per share. QuickBit thus issues four million new shares to Rockmint Limited, which gives a dilution effect of about 6.86 percent.
For more information, please contact:
Reinhold Konnander, CEO, Quickbit, email@example.com, 073-068 5620
Jörgen Eriksson, Senior Advisor, QuickBit, Jorgen@quickbit.eu, 070-681 2777