$COIN.NE Raising Private Placement to $12M $COIN.NE just upped its private placement to a total of $12M (but including the Agents’ Option, gross proceeds should come to around $16M if all options are exercised).
- $0.90 per unit, which consists of a common share and half a warrant
- Each warrant expires in 36 months and has an exercise price of $1.15
- All securities involved will have a 4 month, 1 day holding period (not including the Agents’ Option
The cash raised will go towards staking, investments in the Metaverse Group, and other general purposes. With the offering expected to close on November 16th, $COIN is about to have a lot more cash on hand.
https://ca.finance.yahoo.com/news/tokens-announces-increase-private-placement-134000588.html
With Q3 results to come out on November 5th, I'm excited to see where it goes. They recently stated that their crypto holdings grew by 57.3%, with staking rewards equal to 19.5% annual returns. $COIN has continued to purchase more crypto during the dips a few months ago, which has definitely paid off. Now with an additional $12M+ ready to spend. I estimate that annual revenues should see an extra boost of around $1M-2M depending on the Metaverse Group’s growth and crypto prices.
The upwards momentum has been amazing, and bids look strong in the $0.90-$0.97 range. If ETH holds above $5000 CAD, we should see a lot of SP growth in the future. Looking forward to the earnings report on the 5th.