PR88817

NEW YORK and TORONTO, Apr. 2, 2021 /PRNewswire=KYODO JBN/ --

INX Limited ("INX") is pleased to announce that it has closed its previously

announced private placement of subscription receipts (each, a "Subscription

Receipt") at CA$1.25 per Subscription Receipt for aggregate gross proceeds of

CA$39,600,000 (the "Financing").

The Financing was conducted in connection with INX's going-public transaction

on the TSX Venture Exchange via a Reverse Take Over of Valdy Investments Ltd.

("Valdy"), whereby Valdy will acquire all of the issued and outstanding shares

of INX (the "Transaction") pursuant to the terms of a securities exchange

agreement dated March 31, 2021 among Valdy, INX, the securityholders of INX,

and the Co-Lead Agents (as defined below) in exchange for the issuance of Valdy

securities to the former securityholders of INX. Upon completion of the

Transaction, INX will become a wholly-owned subsidiary of Valdy, and the

combined entity (the "Resulting Issuer") will continue the business of INX.

Shy Datika, Co-Founder & President of INX commented, "INX breaks new ground by

connecting the legacy world of equity capital markets with the innovative

blockchain-based digital asset class. We are the first company to issue a

Security Token through an SEC-registered public offering, and we fortify it now

with further transparency and regulatory clarity with this upcoming listing. We

strongly believe that digital assets are the future of equity capital markets,

and aim to become the bridge between both worlds."

Additional details regarding the private placement and the Transaction are

included in a Form 6-K filed with the Securities and Exchange Commission on

March 31, 2021.

The brokered portion of the Financing was conducted through a syndicate of

agents led by PI Financial Corp. and Eight Capital (together, the "Co-Lead

Agents"), and including Beacon Securities Limited and Cormark Securities Inc.

(together with the Co-Lead Agents, the "Agents").

The completion of the Transaction is subject to the satisfaction of various

conditions as are standard for a transaction of this nature, including but not

limited to the approval of the TSX Venture Exchange.

Not for distribution to United States newswire services or for dissemination in

the United States. This news release does not constitute an offer to sell or a

solicitation of an offer to buy any of the securities in the United States. The

securities have not been and will not be registered under the United States

Securities Act of 1933, as amended (the "U.S. Securities Act") or any state

securities laws and may not be offered or sold within the United States or to

U.S. Persons unless registered under the U.S. Securities Act and applicable

state securities laws or an exemption from such registration is available.

About INX

INX aims to provide a regulated trading platform for digital securities

combining traditional markets expertise and a novel fintech approach. INX is

led by an experienced team of business, finance, and blockchain technology

experts unified by the vision of redefining the world of capital markets via

the leveraging of blockchain technology and an innovative regulatory approach.

For further information please contact:

Douglas C. Borthwick

CBO, INX Limited

contact@inx.co

Forward-Looking Information

This press release contains "forward-looking information" within the meaning of

applicable securities laws relating to the proposal to complete the

Transaction, the Financing, and associated transactions, including statements

regarding the terms and conditions of the Transaction, the Financing, and the

Resulting Issuer. Forward-looking information consist of statements that are

not purely historical, including any statements regarding beliefs, plans,

expectations or intentions regarding the future. Readers are cautioned to not

place undue reliance on forward-looking information. Actual results and

developments may differ materially from those contemplated by these statements

depending on, among other things, the risks that the parties will not proceed

with the Transaction, the Financing and associated transactions, that the

ultimate terms of the Transaction, the Financing, and associated transactions

will differ from those that currently are contemplated, and that the

Transaction, the Financing and associated transactions will not be successfully

completed for any reason (including the failure to obtain the required

approvals or clearances from regulatory authorities). In developing the

forward-looking information contained herein, the Company has made assumptions

with respect to, among other things, the ability of the parties to satisfy the

conditions to the Transaction, including the receipt of third party consents

and regulatory approvals, as well as other factors believed to be relevant.

Although the Company believes that the assumptions made and the expectations

represented by such information are reasonable, there can be no assurance that

the forward-looking information contained herein will prove to be accurate.

Readers are cautioned that assumptions used in the preparation of any

forward-looking information may prove to be incorrect. Events or circumstances

may cause actual results to differ materially from those predicted, as a result

of numerous known and unknown risks, uncertainties, and other factors, many of

which are beyond the control of the Company. Factors that could cause the

actual results to differ materially from those in forward-looking statements

include, failure to obtain regulatory approval, the continued availability of

capital and financing, and general economic, market or business conditions.

Forward-looking statements contained in this press release are expressly

qualified by this cautionary statement. The statements in this press release

are made as of the date of this release. The Company undertakes no obligation

to comment on analyses, expectations or statements made by third-parties in

respect of the Company, INX, their securities, or their respective financial or

operating results. Except as required by law, the Company disclaims any

intention and assumes no obligation to update or revise any forward-looking

information.

SOURCE: INX Limited