Digital currency invests in ASX-listed public company
CCP Technologies Limited (ASX:CT1) (ASX:CT1)
ST KILDA, VICTORIA, AUSTRALIA, July 17, 2018 /EINPresswire.com/ — Key highlights:
• Strategic placement to raise $861,247 (before costs) at a 25% premium to last close
• CCP welcomes Penta Global Blockchain Foundation and First Growth Funds (ASX:FGF) to the register
• Acceleration of CCP’s blockchain initiatives
• Opening the China market for the CCP solution
CCP Technologies Limited (“CCP” or “The Company”) is pleased to announce that it has received commitments from strategic investors to raise $861,247 (before costs) by issue of 43,062,350 new ordinary shares at $0.02 per share. Each subscriber in the placement will also receive a two-year unlisted option, for each share issued, with an exercise price of $0.03, subject to shareholder approval at the Company’s 2018 Annual General Meeting.
The investment made by Penta Global Blockchain Foundation will be in the form of “Penta” tokens. Further details on Penta tokens and key terms of the Securities Subscription Agreement with Penta Global are provided in Appendix 1 accompanying this announcement. New ordinary shares will be issued under the Company’s available LR7.1 and L7.1A capacities, where applicable.
First Growth Funds Limited (FGF) led the strategic investment and have also invested directly from their balance sheet, as well as partnering with Penta Global (Penta), a US$500 Million market capitalised digital currency, to cornerstone this placement in CCP Technologies Limited.
David Ritter, CEO of Penta said that:
"The Penta Global Blockchain Foundation is very happy to announce completion of a strategic investment in ASX listed company, CCP Technologies. This represents one of the first times a digital currency has invested directly in a public company on a major exchange and reflects Penta’s commitment to bring blockchain technology to the real- world economy. We see many strategic opportunities to work with CCP Technologies to deliver new solutions to the market."
Penta Global is a blockchain connector that provides interoperability between blockchain and existing IT systems, which complements CCP Technologies’ established and rapidly commercialising critical control point Internet of Things (IoT) solution as well as CCP’s wholly owned India-based development company that has been expanding its blockchain development capabilities.
Anoosh Manzoori, Executive Director of FGF said,
“FGF believes it is an opportune time to invest in CCP. Their technology is fully developed and with the establishment of key channel partners, including Vodafone, Dicker Data Limited (ASX:DDR), Sigfox operators and now with Penta, CCP has a great growth outlook.”
The Company continues to build a growing list of customers in Australia, North America and Asia which includes many well-known corporate brands seeking an enterprise-grade IoT critical control point management system. CCP’s new energy monitoring, shipment monitoring and blockchain solutions provides a great opportunity to strengthen market position.
Michael White, Chief Executive Officer of CCP said,
“Our company is leveraging Cloud, IoT, blockchain, Big Data and AI technologies to revolutionise critical control point management. We have an industry leading suite of technical capabilities, a growing customer base and partner network. We’re bringing exciting new solutions to a massive market which offer a compelling value proposition. This raise provides synergistic investment that we expect will further accelerate our commercial and technical advancements.”
First Growth Funds Limited is a diversified Listed Investment Company which focuses on increasing shareholder value by making investments across a broad range of listed and unlisted investments. Since December 2017, under the leadership of Executive Director Anoosh Manzoori who is also a non-executive director of CCP Technologies Limited, FGF has strongly positioned itself in the digital currency space and is an active investor and advisor for new blockchain technologies.
Penta Network is a next generation platform for both public and private blockchain projects, designed to be a premier platform for transferring value and operating high- performance decentralised applications. Penta aims to remove roadblocks and reshape the blockchain landscape with an emphasis on impacting the real economy and improving productivity. With its unique consensus algorithm (DSC) and a distributed network architecture, Penta is endeavouring to build the world’s most inclusive, equitable, and distributed blockchain community.
Penta Global has a large development team in China and has built a ‘blockchain rice’ solution for 30,000 rice growers for food security and supply chain in the rice sector. The solution provides growers, harvesters, milling, transport and retail data to be stored on the blockchain delivering valuable data to all stakeholders.
About CCP Network
CCP offers a critical control point management system in Australia and North America, and has an emerging presence in Singapore. Critical control points are the points in a supply chain where a failure of standard operating procedure has potential to cause serious harm to people – and to a business’ reputation and bottom line. Standard critical control points include temperature, energy, environment (e.g. air and water quality, pH, chemicals, noise, acoustics and gases) and movement.
CCP captures data using Smart Tags (sensors) and an advanced Internet of Things (IoT) network. Data is delivered to the company’s big data cloud platform where it is analysed to deliver business intelligence. Customers access this information through Web and Mobile Dashboards; and they receive real-time alerts via SMS, email and push notifications.
The Company’s first target market is the food industry, where food safety regulation, energy savings and waste reduction drives adoption. For further information on the CCP Solution, visit: www.ccp-network.com
Michael White | Executive Director & CEO
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Source: EIN Presswire