SONOCOIN IS PLEASED TO ANNOUNCE LETTER OF INTENT FOR A STRATEGIC INVESTMENT WITH AVANT CAPITAL ADVISERS, ESTONIAN’S PROMINENT FINTECH FUND
Geneva, Switzerland: August 19, 2019 — SonoCoin is pleased to announce it has entered into a Letter of Intent (LOI) with Avant Capital Advisers OU (Avant), one of Estonia’s prominent fintech investment firms. The proposed investment structure will consist of a combination of equity and SONOs (SonoCoin’s digital coin). It is outlined as well that Avant, leveraging its founders’ expertise and network, will assist SonoCoin in its further business development initiatives and provide the company with strategy advisory and support.
Pursuant to the LOI, the parties have agreed to use their best efforts to finalize the investment structure, deal pricing, terms and strategic relationship between the two, to be defined within the definitive investment agreement.
Leonid Afanasyev, Founder and CEO of SonoCoin, commented: “This LOI represents another successful milestone of our restless efforts to build strategic partnerships with leading blockchain funds throughout Europe. Our strategy is to consistently attract strategic investment, where capital is combined with strategic advice. Avant and Blufolio, our two recent financial partners, have reflected the same strategy.”
Patrick Hermann, Partner at Avant Capital Avisers, commented: “We are looking forward to our collaboration with Sonocoin. We have been in discussions for over a year now and are very happy to with the development thus far. The SonoCoin team has done an excellent job leading the project to new heights. We see promising use cases with their cutting-edge technology.”
About Avant Capital Advisers
Avant Capital Advisers (“ACA”) is involved in helping innovative startups reach their full potential. Our investment in your business is more than just financial. When we commit to working with a client, we become partners and lend our full support behind their efforts to move their company forward. Contact us to learn more about our investment portfolio and latest success stories.
About SonoCoin
SonoCoin is Swiss blockchain venture offering white-labeled data-over-sound solutions to enterprises based on its native blockchain protocol. The coin’s .WAV file format gives anyone the power to transmit value and information using simple methods of delivery such as sound (similar to Shazam), messenger, QR and Bluetooth, etc. SonoCoin’s blockchain platform is a “b-to-b-to-c” (b2b2c) model, where SonoCoin builds data-over-sound solutions for businesses upon its blockchain network. SonoCoin uses a Proof-of-Stake protocol (PoS) where members of the community owning a specified amount of coins has the possibility to join the consensus algorithm and create new blocks in return for rewards. The selection for the next creator of a block is based on various factors such as: random selection, and stake size.
Cautionary Note Regarding Forward-Looking Statements
The statements made in this press release may contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of SonoCoin. The words “will”, “may”, “anticipate”, “intend”, “plan” and similar words and expressions are used to identify forward-looking information. The actual results of the specific items described in this release, and the Company’s operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of SonoCoin’s team as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, SonoCoin’s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of SonoCoin. SonoCoin disclaims any obligation to update the information contained in any forward-looking statement unless required by applicable securities laws.
