Chill Brands Group (LSE:CHLL) shares soared 13.7% to 0.54 on Thursday after it said it is in early, non-binding discussions to licence complementary digital assets and place operational stewardship with platform operators to develop chill.com.
Chill Brands shares traded between 0.459p and 0.54p, after closing at 0.475 yesterday.
The company, a distribution-led consumer packaged-goods group serving the UK convenience retail sector, reported operational momentum at Chill Connect after expanding its distributed product range to include beverages, confectionery and batteries and completing a wholesale ordering platform pending payment-processing sign-off.
Chill Brands described the proposed structure as a licensing arrangement whereby the platform operators would licence assets into the Group and operate marketplace, social and democratised financing platforms as a suite under their stewardship.
The Group says it would contribute the premium chill.com domain and its audience potential while the platform operators would bring dedicated operational resource, development capability and domain expertise.
"The Board is encouraged by the operational momentum in Chill Connect and by the strategic progress being made towards the development of a broader digital platform business" said Callum Sommerton, Chief Executive Officer.
Discussions are at an early stage, no binding arrangements have been entered into, the ordering platform is expected to go live in the near term once payment integration is complete, and the company says it will announce any binding platform deals if agreed.
