In Valereum's statement, “The future focus of the GSX will be to expand the access to European capital for early-stage and small-cap companies in the Middle East, India, and Africa where there is a huge opportunity to empower entrepreneurs across the region.”
Blockchain company, Valereum, has announced that it has obtained regulatory approval to acquire the Gibraltar Stock Exchange (GSX). The deal is mainly subject to typical conditions for working capital and regulatory compliance.
The company announced this on their Twitter page.
Valereum’s statement indicated it would make GSX a gateway for emerging firms from the Middle East, India, and Africa to access capital in Europe.
According to Valereum,
“The future focus of the GSX will be to expand the access to European capital for early-stage and small-cap companies in the Middle East, India, and Africa where there is a huge opportunity to empower entrepreneurs across the region.”
The company also disclosed that all of the GSX board candidates received Gibraltar Financial Services Commission (GFSC) approval. The appointments will become effective after the change of control procedure is finalized.
Richard Poulden, the company's chairman, stated that they are happy to have learned of the GFSC's approval and are looking forward to finalizing the acquisition of the GSX.
Valereum did not disclose the deal's price, but it expects to close it in the first quarter of 2023.
The company will also introduce its NFT strategy, linking real-world assets through NFT ownership. It will make a full disclosure of its plan as the modifications take place.
