(Alliance News) - Vinanz Ltd on Friday said it began trading on AQSE in London, after raising GBP775,000 at its initial public offering, and also bought Bitcoin mining assets from Valereum PLC

Vinanz is a company aiming to build a Bitcoin mining operation focusing on multiple facilities in the US and Canada.

It said it raised funds at its IPO via a placing and subscription of 25.2 million shares at 3 pence each.

It also said it bought Valereum's Bitcoin mining assets in exchange for 27.3 million of Valereum shares, around GBP800,000 in value.

Valereum is a Gibraltar-based, AQSE-listed firm which links mainstream currency products denominated in USD and GBP into crypto currencies.

Valereum Chair Richard Poulden said: "The sale of the Bitcoin mining assets clearly demonstrates the board's commitment to focus completely on the core business of completing the exciting acquisition of the Gibraltar Stock Exchange and launching our [non-fungible-token] collections programme."

Shares in Vinanz were trading at around 3.50 pence each on AQSE in London on Friday at midday, while shares in Valereum were up 0.4% to 5.69 pence each.

By Greg Rosenvinge, Alliance News reporter

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