FOOTIES LOAN CONVERSION
(“TechFinancials, Inc.” or “the Company”)
Footies Loan Conversion
TechFinancials, Inc., a fintech software provider of financial solutions including blockchain-based digital assets and traditional financial trading solutions for retail clients, is pleased to announce that, following its announcement on 15 July 2019, it has converted its US $300,000 loan into 4,285 new shares of GBP £0.01 in Footies Ltd (“Footies”), at a price of approximately US $70.00 per share. This represents a valuation for Footies of US $1,000,000 post-money.
Following the conversion, the Company holds 82.5% of the share capital in Footies.
As announced in the circular published on 10 December 2019, the Company has extended a credit line to Footies of up to US $225,000. Any amount up to US $225,000 can be drawn down by Footies for the period of one year. Unless earlier converted into shares at the Company’s sole discretion, the loan amount shall become due and repayable in cash to the Company upon the passage of 12 months from 4 December 2019. These will be converted at a US $1,000,000 valuation of Footies.
The Directors of the Company accept responsibility for the contents of this announcement.
For further information:
TechFinancials, Inc .Tel: +972 54 5233 943
Asaf Lahav, Group Chief Executive Officer
Yuval Tovias, Chief Financial Officer
Peterhouse Capital Limited (NEX Corporate Adviser and Broker) +44 (0) 20 7469 0930
Guy Miller and Allie Feuerlein