Stockholm IT Ventures AB: STOCKHOLM IT VENTURES AB SECURES 50 MILLION EURO FINANCING

STOCKHOLM, SWEDEN (23 March, 2018) - Stockholm IT Ventures AB (ISIN SE 0006027546 -Frankfurt Stock Exchange: SVAB), a Swedish technology company specialising in clean and efficient low-cost energy cryptocurrency mining, today announced it has completed an agreement with GEM Global Yield Fund (GEF) for 50 million Euro.
 
The agreement gives Stockholm IT Ventures the ability to draw down subscription of new shares in Stockholm IT Ventures AB for up to 50 million Euros. The price for each draw-down is based on 90% of the average trading volume in the Stockholm IT Ventures-shares for a period of 15 trading days prior to each subscription
 
GEM has agreed to convert its options in Stockholm IT Ventures to shares on terms that the first 33% shall be converted at a share price of 0.10 Euro per share, the second 33% shall be converted at a share price of 0.20 Euro per share and the balance shall be converted at 0.30 Euro per share.
 
The conversion pricing strategy correlates well with the company's ambition to reduce dilution in its capital raising, and provides a tool to draw down funds only as needed.
 
"This agreement will help accelerate our vision to build a stronger foundation for the cryptocurrency infrastructure which will enable miners to prosper. We are now putting in place the remaining funding required for the full operation and we will aim to largely finance it by debt rather than equity to keep share dilution down." said Anthony Norman, CEO, Stockholm IT. "We will continue to develop green energy technology platforms while also strengthening our position as a global leader in clean energy crypto mining and production as well as further expanding our blockchain activities and services. We thank GEM for their confidence in us and our strategy and we feel that GEM provides another critical building block in our ambitious project."
 
 
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. Details on the company's Bytemine (BYTM) token and White Paper can be found here: www.bytemine.io.
 
 
 
About GEM Group
Global Emerging Markets (www.gemny.com) was founded in 1991. GEM is a USD 3.4 billion investment group having completed 375 transactions in 72 countries. The firm is an alternative investment group that manages a diverse set of investment vehicles across the world. GEM's investment vehicles provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum.  Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity profile. Our family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments.  GEM's funds include: CITIC-GEM Fund, Kinderhook, GEM Global Yield Fund, GEM India and VC Bank/GEM Mena Fund*.
(*GEM exited both its LP and GP stakes in Q1 2010.)
 
 
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Media Contacts:
 
Vibrate Communications for Stockholm IT Ventures
leslie@vibratecommunications.com
tyrone@vibratecommunications.com
 
The Global Emerging Markets Group
Warren P. Baker
wbaker@gemny.com
+1 212 582 3400