Supernova Digital - Acquisition of Hyperslot

Press Release

18 March 2024

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

Supernova Digital Assets PLC

("Supernova" or "the Company")

Acquisition of Hyperslot

Supernova Digital Assets (AQSE: SOL), a company specialising in the Solana ecosystem, is pleased to announce the completion of its acquisition of the entire issued share capital of Hyperslot PTE Limited ("Hyperslot") for a total consideration of £225,000, which is to be satisfied with the issue of 150,000,000 new Ordinary Shares of £0.001 each in the Company at an issue price of 0.15p per share ("Consideration Shares").

Application will be made for the Consideration Shares, which will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on the AQSE Growth Market ("Admission"). Dealings are expected to commence on or around 21 March 2024. 

The Share Purchase Agreement (SPA) also contains the customary warranties, covenants, undertakings and conditions attached to a transaction of this nature. Furthermore, the Consideration Shares will be subject to a lock-in agreement for six months from completion.

Total Voting Rights  

Following Admission, the Company's total issued and voting share capital will consist of 1,603,225,646 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. 

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

About Hyperslot

Hyperslot is a Solana (SOL) validator company which has a compelling thesis around the future of the SOL in the developing world, with their core thesis being that it can build the largest developing world validator network, focusing on South America, Asia and Africa. The Company already has over 1,500 of their SOL ($250,000 USD) staked on their network and is targeting a pipeline over 115,000 SOL in the near term.

Strategic Rationale

Supernova's vision is that the unprecedented growth of the SOL blockchain in the last 12 months will continue to grow at pace and eventually become the dominant global Layer 1. SOL is more scalable, faster and cheaper than Ethereum which is why it has the fastest growing total value locked (TVL), projects and developers.

The acquisition importantly includes their SOL which, assuming an 8% yield, makes this acquisition break even in year one based on their SOL alone. Hyperslot's proprietary Maximum Extractable Value (MEV) Bot technology is also included in the acquisition.

Michael Edwards, Executive Chairman of Supernova Digital Assets, commented: "Having pivoted our strategic focus to the Solana digital asset ecosystem, we believe the Solana network has the power to drive substantial and enduring growth in the future. Our acquisition of Hyperslot allows us to own the opportunity to build the largest validator network in the developing world, where they have the highest adoption of cryptocurrency. By investing in the Solana network, we can build and develop a foundational technology of the future and maximise shareholders returns."

The Directors of Supernova Digital Assets PLC take responsibility for this announcement.

For further information please contact:

About Supernova Digital Assets:

The Company will look to identify investment and business building opportunities in the high growth Solana and crypto currency ecosystem. The Board intends to deploy the majority of the Company's cash resources in the acquisition of minority interests in a number of different, yet to be identified, companies in the broad Solana and crypto currency ecosystem, and to apply expertise to the business operations and strategic plans of these companies. The experience, operational skills and contacts of the Board are intended to act as an accelerator to start-ups and early-stage companies to maximise their profit opportunity. It is anticipated that returns to Shareholders will be delivered through a combination of an appreciation in the Company's share price and through the adoption of a progressive dividend policy. The Company's Directors have an established track record, experience and networks in the crypto currency sector, digital assets management, as well as the media industry to drive value creation.