Gap up open Monday! Up 48% Friday 7.3 million on this news!! Neptune Digital stakes 31,715 Solana
2024-10-25 11:24 ET - News Release
Mr. Cale Moodie reports
NEPTUNE PROVIDES CORPORATE UPDATE, ANNOUNCES MARKETING AND STAKING OF 31,715 SOLANA
Neptune Digital Assets Corp. has provided a corporate update.
Neptune continues to mine through proof-of-work and proof-of-stake operations. Bitcoin revenues are held securely in cold storage while staking revenues are either compounded or are used to acquire more bitcoin.
Neptune is well positioned with a strong balance sheet to take advantage of what is believed to be a resumption of a blockchain bull market cycle. Key financial and operational highlights are as follow:
• Neptune currently holds 349 bitcoin in cold storage; this balance continues to grow through proof-of-work mining operations, option trades, purchases and using staking revenues for acquisitions.
• Earlier in the year, Neptune purchased 26,964 Solana at a price of $64 (U.S.) per Solana. At the time of purchase, this was a 67-per-cent discount to market price and, as of Oct. 24, 2024, market price is $180 (U.S.) per Solana. Neptune currently stakes 31,715 Solana earning approximately 7.25 per cent per annum.
• The company holds a portfolio of tokens, which management rebalances from time to time as necessary to optimize holdings and yields. Currently, Neptune holds 193,000 Atom, 140 ethereum, 50,000 Dot, 1.3 million GRT and smaller positions in Ocean, FTM, Dash, Juno and others. The majority of these tokens are staked, earning yields of 3 per cent to 20 per cent depending on the asset.
• As of Oct. 25, 2024, operations generate approximately $220,000 per month at today's token prices. This income level fluctuates significantly based on token price movements.
• Neptune continuously assesses accretive opportunities to grow the balance sheet such as the Solana acquisition from a bankrupt entity and purchase of shares in SpaceX.
• Neptune has $4.6-million in cash reserves with Tier 1 Canadian banks providing enough capital for over two years of operations without selling tokens or raising capital.
• The company has been active in the public market with its NCIB (normal course issuer bid) share repurchases, periodically acquiring and cancelling shares when conditions are optimal.
• The company has no debt and no share purchase warrants.
"We are enthusiastic about the company's recent progress and the improving market conditions. As the cryptocurrency space resumes the current bull cycle, Neptune is perfectly positioned to capitalize on this momentum. Our diverse holdings -- from bitcoin to emerging assets like Solana and our unique investment in SpaceX -- provide unparalleled opportunities for growth. With the launch of a new marketing campaign, we aim to elevate Neptune's visibility and continue delivering long-term value to our shareholders. We are excited about the future and confident that Neptune will remain a leader in the digital asset landscape," stated Cale Moodie, Neptune's chief executive officer.
Marketing campaign service agreement
The company has entered into a service agreement with Native Ads Inc. dated Oct. 23, 2024, pursuant to which Native Ads will provide a marketing campaign for a total retainer of up to $150,000 (U.S.), with a term of up to six months or until the retainer is depleted. Under the agreement, Native Ads will execute a comprehensive digital media advertising campaign for the company, where approximately 75 per cent of the campaign budget will be allocated to cost-per-click costs, media buying and content distribution, and search engine marketing. The remaining budget will be allocated for content creation, Web development, advertising creative development, search engine optimization, campaign optimization, and reporting and data insights services. Native Ads is a full-service advertising agency based out of New York and Vancouver, B.C. Native Ads is arm's length to the company and holds no interest, directly or indirectly, in the securities of the company or any right to acquire such an interest. The engagement of Native Ads is subject to the approval of the TSX Venture Exchange.
About Neptune Digital Assets Corp.
Neptune Digital Assets is one of the first publicly traded blockchain companies in Canada and is at the forefront of the cryptocurrency and blockchain landscape. Neptune engages in operations across the digital asset ecosystem, including bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (defi) and other associated cutting-edge technology. Neptune's unwavering commitment to innovation and strategic growth enables the company to continually explore new opportunities and maximize value for its shareholders.
We seek Safe Harbor.
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