The Mint AS is a Norwegian company that has refined the trade of gemstones by introducing the world's first RWA (Real world asset) trading platform for ethically sourced rubies and sapphires from Greenland. With its pioneering approach, the company combines genuine physical gemstones from Greenland with NFT technology, providing a unique opportunity for all investors to diversify their portfolios with gemstones that are carefully documented from the mine to the vault. The Mint AS has set a new standard in the industry by offering a transparent and ethical trading platform for valuable gemstones.
Learn more about our NBX Visa credit card and The Mint.
Norwegian Block Exchange AS (NBX) has entered into a stock purchase agreement with The Mint AS (The Mint) to acquire all the shares in The Mint with settlement in NBX's consideration shares, subject to approval at the NBX general assembly meeting.
An information meeting and the extraordinary general assembly meeting is expected to be held in February. The agreement will be finalized no later than February 29, 2024.
The Mint AS is valued at 24,000,000 NOK, and the settlement is based on the weighted average of the last 10 trading days before the completion date, with a maximum consideration of not more than 21,000,000 shares in NBX.
The synergies created by the acquisition is expected to increase NBX's revenues by up to 40 MNOK in the first year with a positive margin of 10-14 MNOK.
After the acquisition, The Mint will become NBX's initiative for tokenizing RWAs (Real world asset), where The Mint will expand both the product portfolio and business areas, as well as geographically expanding for NBX to reach more markets.
Since October, NBX and The Mint has been working together to launch a marketplace for rubies and sapphires mined in Greenland. A soft launch is planned in week 5.
This information constitutes inside information in accordance with the EU Market Abuse Regulation (MAR) and is subject to disclosure requirements under the Securities Trading Act § 5-12. The message is published on behalf of Norwegian Block Exchange AS by Stig Aleksander Kjos-Mathisen, CEO.
Disclaimer regarding forward-looking statements
Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and can be identified by words such as "believe," "expect," "intend," "strategies," "intends," "estimates," "will," "may," "continues," "should," and similar expressions. The forward-looking statements in this announcement are based on various assumptions, many of which are based on further assumptions. Although the company believes that these assumptions were reasonable when made, these assumptions themselves are subject to significant known and unknown risks, uncertainties, and other important factors that are difficult or impossible to predict and are beyond the company's control. Actual events may differ materially from the expected development due to a variety of factors, including but not limited to changes in public investment levels, changes in the general economic, political, and market conditions in the markets in which the company operates, the company's ability to attract, retain, and motivate qualified personnel, changes in the company's ability to make commercially acceptable acquisitions and strategic investments, as well as changes in laws and regulations and the potential impact of lawsuits and litigation. Such risks, uncertainties, and other important factors may cause the actual events to differ materially from the expectations expressed or implied in this announcement through such forward-looking statements. The company makes no warranty that the assumptions underlying the forward-looking statements in this announcement are free from errors and does not assume any responsibility for the future accuracy of the opinions expressed in this announcement or any obligation to update or revise the statements in this announcement to reflect subsequent events. You should not place undue reliance on the forward-looking statements in this announcement.
The information, opinions, and forward-looking statements in this message are valid only as of the date and may change without notice. The company assumes no obligation to review, update, confirm, or publish revisions to forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this message.
This announcement is for information purposes only and should not be used as a substitute for independent assessment. It is not intended as investment advice and should not, under any circumstances, be used or regarded as an offer to sell, or a solicitation to buy securities or a recommendation to buy or sell securities in the company.
This text is intended to inform and is not financial advice. For the most part, this article is a translated copy of our stock announcement on the 26th of January, 2024.
Best regards,
Adam Jakobsen.
NBX.
