Investment Update: Mode Network
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KR1 plc (KR1:ASE), a leading digital asset investment company, is pleased to provide an update on the Company’s investment into Mode Network.
Following the recent launch of Mode’s mainnet token (“MODE”) and the Company’s exercise of token warrants relating to the investments in Mode’s seed and strategic round, as per the Company’s announcement on 19 April 2024, the Company is due to receive an aggregate total of 125,000,000 MODE, subject to a lockup and vesting schedule. After an initial lock of approximately twelve months from today, the Company expects its MODE tokens to be distributed in equal tranches on a monthly basis over the period between twelve to thirty-six months after Mode’s mainnet token launch.
The Directors of KR1 plc accept responsibility for this announcement.
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