High Growth Capital splashes out on IP rights

High Growth Capital on Friday acquired all existing and in-development intellectual property rights from BDD for £4m in a shares-only deal.

The London-listed company paid for the rights, which it said will now be referred to as 'project SDG', with the issue of 400,000,000 ordinary shares in HGC at a price of 1p per share credited as fully paid.

Jens Zimmermann, chairman of HGC, said: "We look forward to developing SDG into a transformative high quality long-term asset in close conjunction with Chris (Akers) during the months ahead."

SDG founder Christopher Akers came up with the idea to raise at least $1.0bn through an annual global blockchain raffle initiative, with around 50% of the raffle proceeds to be allocated to a dedicated number of high impact human, social and environmental conviction initiatives in close collaboration with various leading charities and good causes.

"HGC's 360 degrees vision is entirely aligned with how SDG thinks to empower the Environment, Social and Government sector on a global basis. Enabling people around the world and from all walks of life to proactively contribute to a positive and progressively improving society. Inclusiveness, authenticity and undeterred determination are some of the basic ingredients that will make SDG stand out from the crowd and deliver something the world has never seen before," said Akers.

Meanwhile, the company also announced its intentions to increase its overall equity holding in Sentiance NV, the international AI, machine learning, data science and behavioural change company, from 10% to 15%.

The company said the consideration of £7.0m to gain the extra 5% will be settled in full through the issue of 875m ordinary shares at a price of 0.80p credited as fully paid to a number of independent family offices and investors, including RRNB Capital Ltd, who have participated in the financing of the arrangements to become shareholders in HGC.

High Growth Capital's shares were up 3.00% at 1.03p at 1155 BST.