02.07.2020 08:46:10 - BeQuoted
Vertical Ventures ingår LOI om förvärv av Arcane Crypto AS
VERTICAL VENTURES INGÅR LOI OM FÖRVÄRV AV ARCANE CRYPTO ASVertical Ventures AB (publ) (“Vertical Ventures”) informerade i pressmeddelande 20200702 att man avbrutit processen avseende Vertical Ventures förvärv av
samtliga aktier i Tongdow E-Commerce Group Co. Ltd sedan exklusivitetsperioden enligt ingången avsiktsförklaring löpt ut.Vertical Ventures och majoritetsägarna (“Ägarna”) till Arcane Crypto AS (“Arcane”) har ingått en avsiktsförklaring gällande Vertical Ventures förvärv av
samtliga aktier i Arcane genom ett s.k. omvänt förvärv (“Transaktionen”). Om Transaktionen genomförs innebär detta bl.a. att Vertical Ventures verksamhet ändras
till Arcanes verksamhet (det “Nya Bolaget”).Transaktionen mellan Vertical Ventures och Arcane i korthet:
? Transaktionen förutsätter ingående av ett aktieöverlåtelseavtal och kommer bland annat att vara villkorad av godkännande av bolagsstämma i såväl Vertical
Ventures som i Ägarna.
? Efter Transaktionens slutförande är avsikten att Arcanes aktieägare ska inneha omkring 92,5 procent av aktierna och rösterna i det Nya Bolaget medan Vertical
Ventures befintliga aktieägare ska inneha omkring 7,5 procent av aktierna och rösterna i det Nya Bolaget.
? Köpeskillingen för Arcane uppgår indikativt till SEK 299 745 000 men är föremål för slutförhandling. Köpeskillingen kommer att erläggas genom nyemission av
preliminärt 6 661 000 000 aktier i Vertical Ventures till en teckningskurs om SEK 0.045 per aktie.
? Ambitionen är att Transaktionen ska slutföras under andra halvan 2020.“Det har kommit en rad spännande marknadsnyheter från kryptovalutaindustrin på senare tid, till exempel ser vi nu att ett antal stora internationella aktörer
ger sig in på marknaden. Detta är talande för den växande mognaden i sektorn och gör oss extra glada över att kunna säkra ett avtal med Arcane”, säger Fredrik
Crafoord, styrelseordförande i Vertical Ventures.“We see massive potential for Arcane as a listed company. We are growing fast and there are many interesting opportunities on the horizon. By going public we
will expand our toolbox and position our self for further growth. In addition, our ecosystem approach and infrastructure focus will benefit from the opening up
to a wider investor base”, säger Torbjrn Bull Jenssen, VD för Arcane.Kombinationen av Vertical Ventures och Arcane kommer att skapa ett av mycket få noterade kryptovalutafokuserade företag i Europa och kommer att erbjuda en
robust och diversifierad exponering mot sektorn.I samband med Transaktionen kommer Vertical Ventures att byta företagsnamn.
Om Transaktionen
Vertical Ventures har ingått en avsiktsförklaring med Arcane, enligt vilken Vertical Ventures ska förvärva samtliga aktier i Arcane. Transaktionen förutsätter
ingående av ett aktieöverlåtelseavtal och kommer bl.a. vara villkorad av godkännande av bolagsstämma i såväl Vertical Ventures som i Ägarna. Vidare förutsätter
slutförandet av Transaktionen en godkänd ömsesidig granskning (due diligence) av Arcane och Vertical Ventures, vilken avses genomföras under kommande veckor.Efter Transaktionens slutförande är avsikten att Arcanes aktieägare ska inneha omkring 92,5 procent av aktierna och rösterna i det Nya Bolaget medan Vertical
Ventures befintliga aktieägare ska inneha omkring 7,5 procent av aktierna och rösterna i det Nya Bolaget. Fördelningen kan slutligt komma att variera beroende
på slutligt utfall av parternas förhandlingar.Noteringen på Nasdaq First North Growth Market
Med anledning av Transaktionen krävs en ny noteringsprocess för Vertical Ventures på Nasdaq First North Growth Market där Nasdaq först måste godkänna det Nya
Bolaget för fortsatt notering på Nasdaq First North Growth Market. Med anledning av detta - och förutsatt att Nasdaq godkänner noteringen av det Nya Bolaget -
kommer en bolagsbeskrivning avseende det Nya Bolaget att publiceras i god tid innan den avsedda tillträdestidpunkten.About Arcane
Arcane works to support the financial system of the future.
Arcane develop and invest in projects which fills the gaps in the infrastructure for bitcoin and digital assets. Arcane works to become a center of gravity for
the digital asset ecosystem in Europe and works to extract synergies between its business lines and investments.The business portfolio of Arcane consist of six units covering: (i) crypto currency payment technology, (ii) crypto and digital assets liquidity provision,
(iii) crypto-fiat exchange, both retail and institutional, as well as (iv) a research department, (v) news and (vi) a hedge fund. Arcanes main brands and
investments include Trijo Exchange, Alphaplate, Pure Digital, Teslacoil, Arcane Research, Kryptografen.no and Arcane Assets.Torbjrn Bull Jenssen is the CEO of Arcane. The majority owners behind Arcane is the Norwegian investors Kristian Lundkvist, Ketil Skorstad and Morten Klein
through their respective investment companies.Investments
Trijo Exchange (Iljort Invest AB - 34% ownership)
Trijo is the first Swedish crypto exchange licensed by the Swedish financial authorities under AML5. Trijo provides a simple and secure onboarding process to
crypto currency, by amongst other factors, leveraging BankID for identification and log in. For further information see: https://trijo.co/ https://trijo.co/Trijo also operate the news site Trijo News: https://news.trijo.co/ https://news.trijo.co/
The co-founder and CEO of Trijo is Totte Löfström
Alphaplate Ltd. (45% ownership)
Alphaplate is a UK based crypto algo trader and liquidity provider specializing in smaller currencies like Swedish and Norwegian kroner. For further information
see: http://alphaplate.io/ http://alphaplate.io/The founders of Alphaplate are Jan Ivar Strmme (CEO) and Robert Crenian (COO).
Pure Digital Ltd. (34% ownership)
Pure Digital builds an interbank bitcoin and digital asset exchange targeting tier one banks. Pure Digital is built based on extensive experience from the
traditional currency market, as well as crypto. Pure Digital is based in the UK. For further information see: https://puredigitalmarkets.com/
https://puredigitalmarkets.com/The founder and CEO of Pure Digital is Campbell Adams, and the COO is Lauren Kiley.
Business lines
Arcane Assets
Arcane Assets operates a crypto hedge fund regulated under FSA through a partnership with hedge fund platform provider AK Jensen. For further information see:
https://arcaneassets.io/ https://arcaneassets.io/The fund is managed by Eric Wall.
Arcane Research
Arcane Research provides research and news within the field of crypto currency and digital assets. Arcane Researchs business model is built around a paid
newsletter, white label research sold to crypto exchanges, sponsorships and consulting. For further information see: https://research.arcane.no/
https://research.arcane.no/Arcane also operate the Norwegian crypto news site https://kryptografen.no/ https://kryptografen.no/
Arcane Research is headed by Torbjrn Bull Jenssen and Media is headed by Richard Paulsen.
Teslacoil
Teslacoil is an enterprise-software enabling companies to easily accept Bitcoin and Bitcoin Lightning payments themselves, without being cryptocurrency experts.
Teslacoil features integrations with exchange partners. This enables the customers to hedge out the incoming bitcoins in real time and receive settlement in
their desired fiat currency. For further information see: https://teslacoil.io/ https://teslacoil.io/Teslacoil is headed by Henrik Skogstrm.
Stockholm 2020-07-02
För ytterligare information, vänligen kontakta:
Fredrik Crafoord, Styrelseordförande Vertical Ventures AB (publ)
E-post: info@verticalventures.se mailto:info@verticalventures.se
Hemsida: http://investor.verticalventures.se http://investor.verticalventures.se
Denna information är sådan information som Vertical Ventures AB (publ) är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning. Informationen
lämnades, genom ovanstående kontaktpersons försorg, för offentliggörande den 2 juli 2020 kl. 08:46 CEST.Följande dokument kan hämtas från beQuoted
Vertical Ventures Pressrelease.pdf-http://www.bequoted.com/beQPress/download.asp?Id=39680Kort information om Vertical Ventures AB (publ)
Vertical Ventures affärsidé är att genom egna projekt och aktivt delägarskap driva projekt och bolag inom olika marknadsvertikaler inom lojalitet.
Bolaget är noterat på Nasdaq First North Growth Market och Mangold Fondkommission är Certified Adviser, tel. +46 8 5030 1550, e-post: ca@mangold.se
mailto:ca@mangold.se , web: www.mangold.se http://www.mangold.se
Har prioritert litt andre poster 
, men Arcane crypto kommer nok til å bli bra vil jeg tro. Den skal ihvertfall hypes. Så har de mange spennende prosjekter. Kult at de også har en Hedgefond-divisjon.
Egentlig riktig fordi dette er litt lotto 
Har en liten post for å være eksponert mot krypto/blockchain. 4%, kanskje 7% nå pga hype/pump. Men det rare er kun du som har posten noe om noteringen. 
Enig! Blir sikkert flere oppkjøp framover også, så kan nok bli et spennende “kryto/blockchain fond”. Jeg skjønner lite i denne sektoren, so da får noen andre ta seg av jobben 
Stemmer det at det er ca 7 milliarder aksjer eller er det gjort en spleis?
Ja om ikke mer. Husker ikke men tror dagens aksjer / delt på 7 ( dagens aksjonærer sitter på 7% av verdien mener jeg) * 100 + evt warrants. Safting prising nå
Nå er det i gang. Kryptoguruen Thorbjørn Bull Jenssen starter som CEO snarest.
Blir interessant å følge denne, som lenge har vært et skall. Nå har Arcane Crypto gjennomført det de lovet. Noen som har tatt en post?
Mistenker at det ikke er en spesielt bra timing for å gjøre inngang nå uten at jeg har sett nærmere på caset.
Da er Arcane Crypto på børs! Sprek prising da.
8 milliarder aksjer LOL
Lite oppmerksomhet rundt denne 
Gått mer enn 100% siste 10 dager, mer eller mindre ubemerket. Kan ikke skjønne annet enn at oppsiden her er enorm. Synes selskapet fortsatt er lavt priset tross nevnte dobling…
Sitter ikke med arcane selv, men kursen var 0,07øre når jeg startet tråden. Nå handles den til 42øre. Så håper flere sitter med pene gevinster. Unner de som har kjøpt Arcane en bra utvikling også videre 
Ja, spennende aksje. Kjøpte på 0,17, tok en fin gevinst nå. Synes den er stivt priset, men har høyt potensiale. Blir spennende å følge med videre. Gode ideer og et helhetlig konsept, så får vi se om det blir inntekt av det.
Spennende aksje.
Noen mulighet til og få fikset tickeren?
Er vel denne egentlig tror jeg:
ARCANE.ST
https://tekinvestor.no/tag/arcane_st
@pdx
Hadde veldig flaks og gikk ut nesten på topp, med 105% avkastning på ei uke.
Svenske tilstander!
Er vel noen av de store som tar gevinst.
denne kom idag
ARCANE CRYPTO COMPLETES A DIRECTED NEW SHARE ISSUE OF 99,000,000 NEW SHARES, RAISING PROCEEDS OF APPROXIMATELY SEK 49.5 MILLION FROM LUCERNE CAPITAL MANAGEMENT
AND KLEIN INVEST.
Arcane Crypto AB (“Arcane Crypto” or the “Company”) has on 17 February 2021, through a press release, announced that the Company has signed a binding
application agreement with two potential investors following a previously announced non-binding term sheet. Arcane Cryptos board of directors has now, pursuant
to the authorization granted by the Companys extraordinary general meeting held on 11 January 2021, resolved on and carried out a directed issue of 99,000,000
shares (the “Share Issue”) and a directed issue of 49,500,000 warrants of series 2021/2022 (the “Warrant Issue”) to the investors Lucerne Capital Management,
L.P and Klein Invest AS (the “Directed Issues”). Each (1) warrant of series 2021/2022 entitles the holder to subscribe for one (1) new ordinary share in the
Company during the period commencing when the warrants are registered with the Swedish Companies Registration Office up to and including 16 February 2022. The
subscription price per share exercised through a warrant of series 2021/2022 is SEK 0.50. Through the Directed Issues Arcane Crypto may, upon full exercise of
the warrants, receive proceeds amounting to maximum approximately SEK 74.25 million before deduction of transaction costs.NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG,
JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE
REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.The Directed Issues
Arcane Cryptos board of directors has, pursuant to the authorization granted by the Companys extraordinary general meeting held on 11 January 2021, resolved on
and carried out the Directed Issues to the investors Lucerne Capital Management, L.P and Klein Invest AS. All shares and warrants issued have been allotted to
the investors.Through the Directed Issues Arcane Crypto may, upon full exercise of the warrants, receive proceeds amounting to maximum approximately SEK 74.25 million before
deduction of transaction costs.The subscription price for new shares in the Directed Issues is SEK 0.50 per share. The subscription price for the shares in the Directed Issues represents
approximately the volume weighted average price (VWAP) on Nasdaq First North Growth Market on 15 February 2021 and has been determined through negotiation with
the investors. It is therefore the Board of Directors assessment that the subscription price is in accordance with current market conditions.Each (1) warrant of series 2021/2022 entitles the holder to subscribe for one (1) new ordinary share in the Company during the period commencing when the
warrants are registered with the Swedish Companies Registration Office up to and including 16 February 2022. The subscription price per share exercised through
a warrant of series 2021/2022 is SEK 0.50. The subscription price, as well as the number of new shares to which each warrant entitles the holder to subscribe,
may be recalculated in accordance with customary terms and conditions.The reasons for the deviation from the shareholders pre-emptive rights is to diversify the shareholder base among international institutional and reputable
investors and at the same time raise capital in a time and cost-efficient manner. The proceeds from the Share Issue will be used to general corporate purposes,
increase investment in growth and strengthening Arcane Cryptos position for further M&A in line with our strategy.The Directed Issues will, upon full exercise of the warrants, result in a dilution of approximately 1.87 percent of the number of shares and votes in the
Company. Through the Directed Issues, the number of outstanding shares and votes will, upon full exercise of the warrants, increase by 148,500,000 from
7,799,003,523 to 7,947,503,523. The share capital will increase by SEK 541,835.50, from SEK 28,456,410.16 to SEK 28,998,245.65.“From our position as one of the very few listed crypto related companies in Europe, we see a major potential for growth, both organically and through M&A. It
is great to see that others share our view and want to be a part of that journey. By bringing in Lucerne Capital Management, a US based hedgefund, we are
expanding our ownership base to a new type of investors. This is an important step in creating an even stronger shareholder base. The same apply for the
increased investment from Klein Invest”, says Torbjrn Bull Jenssen, CEO of Arcane Crypto.About Lucerne Capital Management
Lucerne Capital Management is an investment firm founded it 2000 specializing in bottom-up stock selection with a focus on European Equities and invest by
leveraging fundamental, deep research capacity and uncovering value dislocations in primarily European mid-cap companies. Lucerne Capital management is
headquartered in Greenwich, CT with a research office in Amsterdam, The Netherlands.About Klein Invest
Klein Invest AS is a part of Klein Group AS which consists of a group of companies with various investments within the media, entertainment and the e-commerce
industry as well as real estate and venture capital investments.Advisers
Pareto Securities AS is acting as settlement agent. Törngren Magnell & Partners Advokatfirma KB and Wikborg Rein Advokatfirma AS is legal counsel to the Company
and Baker McKenzie Advokatbyrå KB is legal counsel to Pareto Securities AS in connection with the Directed Issues.Press release 18 February 2021
For further information, please contact:
Torbjrn Bull Jenssen, CEO, Arcane Crypto AB
e-mail: post@arcanecrypto.se mailto:post@arcanecrypto.se
web: investor.arcanecrypto.se https://investor.arcanecrypto.se/The following documents can be retrieved from beQuoted
Arcane Crypto Pressrelease 2021-02-18.pdf-https://www.bequoted.com/beQPress/download.asp?Id=41580About Arcane Crypto
Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain for
digital finance. As a group we deliver services targeting payments, investment, and trading. In addition, we have a media and research leg.Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting edge projects, and through
acquisitions and consolidation.The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel. +46 8 5030 1550, e-mail: ca@mangold.se
mailto:ca@mangold.se , web: www.mangold.se https://www.mangold.se .Important information
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release
in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press
release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press
release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in the Company in any jurisdiction where such offer
would be considered illegal. This press release does not constitute an offer to sell or an offer to buy or subscribe for shares issued by the Company in any
jurisdiction where such offer or invitation would be illegal. This press release is not a prospectus for the purposes of the Prospectus Regulation (EU)
2017/1129 (the “Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. Arcane Crypto has not authorized any offer to
the public of shares or rights in any Member State of the EEA and no prospectus has been or will be prepared in connection with the Directed Issues. In any EEA
Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus
Regulation.This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities
referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended
(the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to
make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or
distributed, directly or indirectly, in whole or in part, within or into Australia, Hong Kong, Japan, Canada, New Zeeland, Singapore, South Africa, the United
States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and
regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under
Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed
at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, “qualified investors”
(within the meaning of the United Kingdom version of the EU Prospectus Regulation (2017/1129/ EU) which is part of United Kingdom law by virtue of the European
Union (Withdrawal) Act 2018) who are (i) persons having professional experience in matters relating to investments who fall within the definition of “investment
professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities
falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). In the United Kingdom, any investment
or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not
relevant persons should not take any action on the basis of this press release and should not act or rely on it.This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in
the new shares. Any investment decision in connection with the Directed Issues must be made on the basis of all publicly available information relating to the
Company and the Companys shares. Such information has not been independently verified by Pareto Securities. Pareto Securities is acting for the Company in
connection with the transaction and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to its
clients nor for giving advice in relation to the transaction or any other matter referred to herein.The information in this press release may not be forwarded or distributed to any other person and may not be reproduced at all. Any forwarding, distribution,
reproduction or disclosure of this information in its entirety or in any part is prohibited. Failure to follow these instructions may result in a breach of the
Securities Act or applicable laws in other jurisdictions.This press release does not constitute an invitation to warrant, subscribe, or otherwise acquire or transfer any securities in any jurisdiction. This press
release does not constitute a recommendation for any investors decisions regarding the Directed Issues. Each investor or potential investor should conduct a
self-examination, analysis and evaluation of the business and information described in this press release and any publicly available information. The price and
value of the securities can decrease as well as increase. Achieved results do not provide guidance for future results. Neither the contents of the Companys
website nor any other website accessible through hyperlinks on the Companys website are incorporated into or form part of this press release.Forward-looking statements
This press release contains forward-looking statements that reflect the Companys intentions, beliefs, or current expectations about and targets for the Companys
future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which
the Company operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe”, “expect”,
“anticipate”, “intend”, “may”, “plan”, “estimate”, “will”, “should”, “could”, “aim” or “might”, or, in each case, their negative, or similar expressions. The
forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the
Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or
prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome
could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other
important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements.
The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors and readers of this
press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements
that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither the Company nor anyone else
undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that
arise in relation to the content of this press release, unless it is not required by law or Nasdaq First North Growth Markets rule book for issuers.Information to distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended
(“MiFID II”); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and © local implementing measures (together, the
“MiFID II Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer”
(for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in Arcane Crypto have been subject to a
product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the
criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels
as are permitted by MiFID II (the “EU Target Market Assessment”). Solely for the purposes of each manufacturers product approval process in the United Kingdom,
the target market assessment in respect of the shares in the Company has led to the conclusion that: (i) the target market for such shares is only eligible
counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook, and professional clients, as defined in Regulation (EU) No 600/2014 as it forms
part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (“UK MiFIR”); and (ii) all channels for distribution of such shares to eligible
counterparties and professional clients are appropriate (the “UK Target Market Assessment” and, together with the EU Target Market Assessment, the “Target
Market Assessment”). Notwithstanding the Target Market Assessment, Distributors should note that: the price of the shares in Arcane Crypto may decline and
investors could lose all or part of their investment; the shares in Arcane Crypto offer no guaranteed income and no capital protection; and an investment in the
shares in Arcane Crypto is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an
appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to
bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling
restrictions in relation to the Directed Issues.For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II;
or UK MiFIR (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares
in Arcane Crypto.Each distributor is responsible for undertaking its own target market assessment in respect of the shares in Arcane Crypto and determining appropriate
distribution channels.