DGAP-News: Stockholm IT Ventures AB: STOCKHOLM IT VENTURES AB ANNOUNCES TERMS ON UPCOMING ICO

Nachricht vom 07.03.2018 (www.4investors.de) -


DGAP-News: Stockholm IT Ventures AB / Key word(s): Miscellaneous

Stockholm IT Ventures AB: STOCKHOLM IT VENTURES AB ANNOUNCES TERMS ON UPCOMING ICO
07.03.2018 / 15:22


The issuer is solely responsible for the content of this announcement.
STOCKHOLM, SWEDEN (7 March, 2018) - Stockholm IT Ventures AB (ISIN SE 0006027546 - Frankfurt Stock Exchange: SVAB) - Stockholm IT Ventures AB (publ), "SITV" is proud to announce the terms for the upcoming ICO of Bytemine as previously announced. The Board of directors and management of SITV are putting great confidence in the planned rollout of the ICO and the possibilities this is creating for SITV.
 
Mr Anthony Norman, CEO of SITV, declares the following;"What we are about to achieve through the Bytemine ICO is actually creating history as one of the first hybrid airdrops. We are giving away a total of 4% of the tokens to the SITV shareholders in the ICO. This we believe will maximise the value proposition for our shareholders. Having in mind the company's troubled past we are now definitively turning the page and are moving rapidly into a very promising future. Through the team set up for the ICO we have a genuine and solid ground to stand on in order to get it right and to deliver what we have and are promising. The value of the ICO for SITV and its shareholders we can only speculate on but it gives SITV possibilities for expansion we could not dream of just a few months ago"
 
The terms for the upcoming ICO including the announced airdrop of the Bytemine tokens is, in brief, the following.
 
A total of 1,000,000,000 tokens will be released.
 
4% or 40,000,000 tokens, will be airdropped to the public and to the shareholders of SITV and where the shareholders of SITV will be guaranteed 5x the number of tokens that non-shareholders can get. The maximum number of sign ups in the airdrop is determined to 20,000.
 
The shareholders entitled to participate in the airdrop on the above mentioned term will be the ones who are registered as shareholders on the 20 April 2018.
 
66% of the tokens will be sold in combination with the airdrop at the following levels;
 
0 - 150 million tokens: 0,15 EUR per token
150 - 300 million tokens: 0,16 EUR per token
300 - 450 million tokens: 0,17 EUR per token
450 - 660 million tokens: 0,18 EUR per token

 

Any tokens allocated for sale in the ICO that remains unsold upon closure of the offering period will be cancelled (burnt).

 

15% of the tokens, 150,000,000, will stay in SITV as treasury tokens
15% of the tokens, 150,000,000, will go to the team of SITV and consultants making the Bytemine ICO possible.
The Bytemine Whitepaper will be released not later than 16 April 2018.

 
Stockholm IT Ventures AB has teamed up with the Swedish tech companies Khaned AB and We Got Edge AB in order to create the technical platform for the ICO respectively the marketing for the ICO. The teams behind these companies have a solid background with many years of experience in both system development and creating marketing campaigns for world renowned brands, creating cloudsolutions, ICO's, app development and viral & digital marketing campaigns.
 
The CEO of both companies, Mr Shahjahan "Shadde" Yossuff, is heading the ICO team engaged by SITV and will serve as a specialist advisor to STIV together with the CTO Mr Victor Wallander who is is head of all tech development surrounding the ICO and the Bytemine project.
 
Mr Yossuff states:"I am very pleased to work together with SITV and its management on the Bytemine project. Its is a state of the art ICO that we will deliver for SITV and we are in this to create success for them and for us. There is no such thing as failure and the potential upside of this can be enormous for everyone".
 About Stockholm IT Ventures AB
Stockholm IT Ventures AB is a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The company focuses on clean and efficient low-cost energy cryptocurrency mining and production, and in blockchain related technology. All mining activities shall use clean and sustainable energy from hydro power stations in Northern Europe, requiring up to 80% less energy compared to ordinary mining for Bitcoin. The Stockholm IT Ventures stock represents a green investment in cryptocurrency technology. For more information, visit www.stockholmit.co. You can also find them on Facebook, Twitter and LinkedIn.
 About Khaned AB and We Got Edge AB
These are two high level companies delivering top notch tech solutions and digital marketing services to a variety of clients. The companies are founded and headed by Mr Shahjahan "Shadde" Yossuff who is a well known IT entrepreneur who has participated in a number of start ups in the IT and tech fields.
For more information, visit https://khaned.com and https://wegotedge.com/.
 Media Contacts:
Vibrate Communications for Stockholm IT Venturesleslie@vibratecommunications.comtyrone@vibratecommunications.com
 
 Stockholm IT Ventures AB (publ)
Mr Anthony Norman, CEO
+46 723 200 500
 Khaned AB and We got Edge AB
Mr Shahjahan "Shadde" Yossuff, CEO
+46 709 900 587
 
 











07.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:
English
Company:
Stockholm IT Ventures AB

Tegeluddsvägen 31

115 40 Stockholm


Sweden
Phone:
+44 207 148 6262
Internet:
www.stockholmit.co
ISIN:
SE0006027546
WKN:
A116BG
Listed:
Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Munich, Stuttgart, Tradegate Exchange

 
End of News
DGAP News Service




661479  07.03.2018 









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