Connecting Excellence Group (AQSE:XCE) has agreed a subscription with strategic investor Adam Back for 33.46m new shares at 1.75p per share, raising gross proceeds of £585,500 to support expansion of the Group's Bitcoin treasury.
The proceeds will be applied to the Bitcoin treasury as the company continues to scale its international executive recruitment operations and integrated BTC balance sheet, XCE is an international executive recruitment group with a long-term Bitcoin treasury strategy.
The 33.46m Subscription Shares will increase the company's issued share capital to 415.62m shares, representing new shares of approximately 8.05% of the enlarged share capital.
Admission of the Subscription Shares to trading on the Aquis Growth Market is expected on or around 30 April and the Subscription is conditional on that Admission, the Subscription Shares to rank pari passu with existing shares.
"It's a privilege to have Adam Back as a strategic investor in XCE and we are delighted he has increased his investment and support for our ongoing strategy," Scott Ellam, Chief Executive Officer of Connecting Excellence Group, said.
