5EL SA Completes First Stage of Reorganization and Publishes 1H 2017 Results The Second Phase Will Include Add-On Acquisition and Related Financing Both Scheduled for Completion in 2017

September 29, 2017, Lausanne - 5EL SA, the Lausanne based ecommerce services, content marketing, and blockchain technology company has published its unaudited financial results for the six months period ending June 30, 2017.

Following 5EL SA shareholders meeting decision on June 14, 2017 to completely reorganize 5EL into a diversified e-commerce services company, the firm has been completing the process in the two stages. The first stage has been completed today and comprises of a CHF 10 million capital increase, an acquisition of Basel-based The Native AG and the launch of 5EL Blockchain Lab business unit. 5EL SA will fully consolidate The Native AG results as of October 1, 2017 and has accounted for this investment at cost of CHF 8 million as of June 30, 2017. 5EL SA reports CHF 331 thousand in net loss for the six months period ending June 30, 2017 (reduced by 2.6% from CHF 340 thousand for the same period of 2016), total assets of CHF 12 million (slightly below CHF 2 million as of December 31, 2016), of that CHF 2039 thousand in cash (CHF 46 thousand as of December 31, 2016). As a result of the capital increase transaction and prudent cost control throughout the ongoing restructuring process, 5EL SA had increased its shareholders equity from CHF 0.1 million as of December 31, 2016 to CHF 9.8 million as of June 30, 2017.

"The capital increase and acquisition of The Native AG completed at various stages between the shareholders meeting of June 14, 2017 and today, transformed 5EL SA into a lean and fast growing organization with strong capabilities in e-commerce services, content marketing and commercial blockchain tech applications," commented Serge Umansky, the Chairman of 5EL SA. "Now we are ready for the second phase of our transformation aimed at further increasing scale and capabilities of our business," added Mr. Umansky.

As the second phase of the company's transformation, 5EL SA looks to quickly build on the reorganization momentum and intends to complete later this year additional acquisition to build up the scale of its e-commerce services business, as well as put related financing package for it.

For more information please visit www.5el.ch or email viezuitov@5el.ch

5EL SA published this content on 29 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 September 2017 21:39:04 UTC.

Original documenthttps://www.5el.ch/s/h12017-press-release_final.pdf

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