Valereum PLC (AQSE:VLRM) said it has signed binding heads of terms for a £19 million investment from DMC Markets, alongside an additional £1 million from a UK institutional investor, providing fresh capital to accelerate its digital asset and blockchain expansion.
The deal, subject to due diligence, will see DMC’s newly formed entity, Valereum Inc., take a 48.86% stake in the company.
"The proceeds of the investment will be used to make four strategic investments, to provide working capital to support the investments and Valereum Plc's growth plans, and to fund and accelerate the rollout of its tokenisation and digital asset services," the company said.
Specifically, the new financial backing will fund four strategic acquisitions and support Valereum’s expansion across Australasia, Europe, North America, and South America.
The company noted that DMC has increased its planned investment from £13 million.