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Arcane Crypto AB: Trading update from Arcane Crypto in relation to negotiation with two potential investors

Arcane Crypto has been approached by and is now in negotiation with two potential investors regarding investment in the company. In relation to these negotiations Arcane Crypto AB is hereby releasing a trading update related to Q4 2020 numbers for Arcane Crypto AS and Arcane Crypto AB (at that time Vertical Venture AB (publ)).

Arcane Crypto AB's acquisition of Arcane Crypto AS was completed 11 January 2021, and hence there is no consolidated figures for Arcane Crypto AB (at that time Vertical Venture AB (publ) including Arcane Crypto AS for 2020. Please see the company description released 21 December 2020 (https://investor.arcanecrypto.se/company-description/) and subsequent press releases for further information about Arcane Crypto AS and the effects of the reverse acquisition on Arcane Crypto AB.

Preliminary, unaudited key figures related to Arcane Crypto AS group, not including results from partly owned companies:

  • Arcane Crypto AS group had a total revenue of NOK 1,258,700 in Q4 2020, and a total revenue of NOK 2,149,376 in 2020.
  • EBITDA was NOK -6,255,644 in Q4 and NOK -14,701,642 for the full year 2020.
  • Net result before tax was NOK -4,154,004 in Q4 and NOK -11 596 085 for the full year 2020. In addition, Arcane Crypto AS group had NOK 5,657,204 in transaction cost which was booked directly against equity.
  • As of 31 December 2020, Arcane Crypto AS group had a total cash position of NOK 18,712,434, total accounts payable of NOK 6,245,165 and total equity of NOK 33,732,752.

Preliminary unaudited key figures related to Arcane Crypto AB (at the time named Vertical Venture AB (publ)) group:

  • Arcane Crypto AB group (at the time named Vertical Venture AB (publ)) had a total revenue of SEK 2,995,000 in Q4 2020, and a total revenue of SEK 3,002,000 in 2020.
  • EBITDA was SEK -865,000 in Q4 and SEK -1,308,000 for the full year 2020.
  • Net result before tax was SEK -687,000 in Q4 and SEK -2 362 000 for the full year 2020.
  • As of 31 December 2020, Arcane Crypto AB group (at the time named Vertical Venture (publ)) had a total cash position of SEK 198,000, total accounts payable of SEK 407,000 and total equity of SEK -181,000. It shall be noted that an amount of SEK 1,595,000 has been accounted for as listing cost in the group income statement. This is due to the acquisition of Arcane Crypto AS being treated as a reverse acquisition. In the parent company this is accounted for as a prepaid expense that will be accounted for as shares in subsidiaries in 2021. All subsidiaries in the Group live up to the capital requirements according to the Swedish Companies Act for the reported period.

This information is information that Arcane is required to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the above contact person, for publication on February 16, 2021 at 8:15 CET.

Press release 16 February 2021.

For further information, please contact:

Torbjørn Bull Jenssen, CEO, Arcane Crypto AB
e-mail: post@arcanecrypto.se
web: investor.arcanecrypto.se

About Arcane Crypto

Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain for digital finance. As a group we deliver services targeting payments, investment, and trading. In addition, we have a media and research leg.

Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting edge projects, and through acquisitions and consolidation.

The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel. +46 8 5030 1550, e-mail: ca@mangold.se, web: www.mangold.se.

2021-03-26
Regulatory

Arcane Crypto AB ("Arcane Crypto" or the "Company") has, on 13 October 2020, announced that the Company's now subsidiary Arcane Crypto AS had entered into a share purchase agreement regarding the acquisition of all shares in Kaupang Krypto AS ("Kaupang") from Bulltech AS (the "Seller"), in which the consideration consists mainly of (i) NOK 1,000,000 in cash and (ii) NOK 18,500,000 to be set-off against 155,718,793 shares (the "Consideration Shares") in Arcane Crypto (based on the volume-weighted average price of Arcane Crypto's share sixty (60) trading days preceding signing of the share purchase agreement). Closing of the transaction and issuance of the Consideration Shares has today been completed through a directed set-off issue of shares.

2021-03-19
Regulatory

At the Extraordinary General Meeting in Arcane Crypto AB ("Arcane Crypto" or the "Company") on 19 March 2021, which due to the corona virus has been conducted solely through postal voting in advance pursuant to temporary legislation, the resolutions presented below were passed. All resolutions were in accordance with submitted proposals, which are described in detail in the meeting documents available on the Company's website, investor.arcanecrypto.se.

2021-03-02
Regulatorisk

Aktieägarna i Arcane Crypto AB, org. nr. 556668-3933 ("Arcane Crypto" eller "bolaget"), kallas härmed till extra bolagsstämma att hållas fredagen den 19 mars 2021.

2021-02-26
Regulatory

The report, which can be found at https://investor.arcanecrypto.se/, provides details of the Company's financial performance throughout 2020. Additionally, in connection with the acquisition of Arcane Crypto AS the company entered a re-listing process at Nasdaq First North. The re-listing process was successfully completed, and the company received a preliminary approval from Nasdaq on December 4th, 2020. Arcane Crypto AS was formally acquired on January 11th, 2021 and hence not being consolidated in these numbers. Except for in the section regarding significant events post the balance sheet date, the CEO comments and information on group structure and operations, this report does not contain information related to Arcane Crypto AS and its business.

2021-02-18
Regulatory

Arcane Crypto AB ("Arcane Crypto" or the "Company") has on 17 February 2021, through a press release, announced that the Company has signed a binding application agreement with two potential investors following a previously announced non-binding term sheet. Arcane Crypto's board of directors has now, pursuant to the authorization granted by the Company's extraordinary general meeting held on 11 January 2021, resolved on and carried out a directed issue of 99,000,000 shares (the "Share Issue") and a directed issue of 49,500,000 warrants of series 2021/2022 (the "Warrant Issue") to the investors Lucerne Capital Management, L.P and Klein Invest AS (the "Directed Issues"). Each (1) warrant of series 2021/2022 entitles the holder to subscribe for one (1) new ordinary share in the Company during the period commencing when the warrants are registered with the Swedish Companies Registration Office up to and including 16 February 2022. The subscription price per share exercised through a warrant of series 2021/2022 is SEK 0.50. Through the Directed Issues Arcane Crypto may, upon full exercise of the warrants, receive proceeds amounting to maximum approximately SEK 74.25 million before deduction of transaction costs.

2021-02-17
Regulatory

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.

On 16 February 2021, Arcane Crypto AB ("Arcane Crypto" or the "Company") announced through a press release that the Company had entered into a non-binding term sheet with Lucerne Capital Management, L.P ("LCM") and Klein Invest AS ("Klein Invest") regarding an issue of new shares and warrants in the Company. Today LCM and Klein Invest have entered into an application agreement regarding the subscription of such shares and warrants (the "Application Agreement").

2021-02-16
Regulatory

Arcane Crypto AB ("Arcane Crypto" or the "Company") has today, 16 February 2021, signed a non-binding term sheet with two potential investors, with the following key terms.

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