July 11, 2023 [crocon media – mschro] In a recent development, Neptune Digital Assets Corp., one of the leading publicly traded blockchain companies in Canada, has announced its investment of an additional $250,000 USD into SpaceX, the renowned American spacecraft manufacturer and space launch provider. This strategic move showcases Neptune’s confidence in the potential of the space industry and its commitment to diversifying its investment portfolio.
The investment into SpaceX marks Neptune’s continued support for the pioneering company, following its initial investment in July 2022. The recent funding brings Neptune’s total holdings in SpaceX to approximately 26,770 shares, acquired through a third party. With SpaceX’s ambitious goals of revolutionizing space transportation and enabling the colonization of Mars, Neptune sees this as a significant opportunity to capitalize on the progress and achievements made by Elon Musk’s brainchild.
While Neptune remains an arms-length party in this investment, the company’s CEO & President, Cale Moodie, expressed enthusiasm for SpaceX’s advancements. He highlighted the securing of substantial government contracts, reaching up to $100 million USD, and the critical role played by Starlink during the Ukraine conflict and worldwide. This investment not only strengthens Neptune’s balance sheet but also expands its shareholders’ exposure to the exciting and dynamic space industry.
In addition to the SpaceX investment, Neptune provided a corporate update, offering shareholders a glimpse into its financial position ahead of the forthcoming release of its Q3 financials. The company boasts approximately $40 million in assets, demonstrating a strong financial standing with no debt and a robust cash position of around $11 million. This solid foundation eliminates the immediate need for capital raising, reflecting Neptune’s stability and ability to navigate the market confidently.
As part of its digital asset holdings, Neptune currently holds 257 BTC in cold storage and an additional 64 BTC under Chapter 11 claims with Genesis and Celsius. These holdings further reinforce the company’s involvement in the cryptocurrency ecosystem and underline its commitment to blockchain technologies.
Neptune Digital Assets Corp. is set to provide a more comprehensive financial update when the Q3 results are released at the end of July 2023, enabling stakeholders to gain deeper insights into the company’s performance and future prospects.
With this latest investment in SpaceX and its impressive financial standing, Neptune Digital Assets solidifies its position as a leader in the Canadian blockchain industry. As the company continues to navigate the ever-evolving digital asset ecosystem, it remains committed to exploring new opportunities and leveraging blockchain technologies for sustainable growth and success.
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