Crunchfish Digital Cash AB (“Crunchfish”) has received a Notice of Allowance from the European Patent Office (EPO) for its initial Digital Cash patent application. Europe is the second major jurisdiction to grant a patent for this innovation following the grant in the US earlier this year. The patent with application number EP 20 916 267.6 is valid until January 2040, 20 years from the original filing date.

This patent protects many fundamental aspects of offline payments. The basic premise is that the transaction is digitally signed by the payer from a hardware-based or software-based secure element if there is sufficient balance available and that the transaction is then transferred offline to the payee. Both parties store the digital transaction, which is later sent to the backend when either party gets online access. 

This patent application has previously been granted in the US, received a positive International Preliminary Report on Patentability and is also in the process of nationalizing the patent application in India, China, and Taiwan. In Europe, Crunchfish intends to request a European patent with unitary effect (Unitary Patent) that provides uniform patent protection in the 18 EU Member States participating in enhanced co‑operation and having ratified the Agreement on a Unified Patent Court. 

“It is extremely pleasing that our initial fundamental Digital Cash patent application for offline payments will now also be granted in the Europe. This is strategically important as the patent application has an early priority date from January 2020, the focus on offline payment in Europe with the Digital Euro and other offline payment providers, and that it increases the chances of a grant also in India and China”, says Joachim Samuelsson, CEO of Crunchfish.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information is such information as Crunchfish AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 10:45 CET on December 16th, 2024.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a device-agnostic generic trusted client application platform for offline payments, tokenized card payments as well as other mobile client / server systems. Crunchfish has been listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Today, November 6th, 2024, the subscription period in Crunchfish AB’s (“Crunchfish” or the “Company”) rights issue of units of approximately SEK 57 million before issue costs (the “Rights Issue”) begins. The Rights Issue is covered by subscription commitments and guarantee commitments up to approximately 45 percent from larger shareholders and external investors. The Rights Issue was approved at the Extraordinary General Meeting held on October 24, 2024. All interested parties are invited to a webinar about the Rights Issue on November 11th, 2024, where the audience will have the opportunity to ask questions to Crunchfish’s CEO Joachim Samuelsson.

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, BELARUS, CANADA, HONG KONG, JAPAN, NEW ZEALAND, RUSSIA, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURE.  

Invitation to webinar about the Rights Issue

On Monday, November 11th at 12.00 CET, a webinar about the Rights Issue will be hosted on Zoom where Crunchfish’s CEO Joachim Samuelsson will present the Company and its current revenue opportunities. The presentation will be moderated by Björn Andersson from Västra Hamnen Corporate Finance. During the webinar, the chat function will be active, and the participants will be able to ask questions regarding the Rights Issue. The webinar will be held in Swedish. In order to participate, registration is done via the following link: https://us02web.zoom.us/webinar/register/WN_my9fPjGZSCOWSdkxDU3H1A 

A recording of this webinar will also be available afterward on Crunchfish’s website as well as Västra Hamnen Corporate Finance AB’s website.

Terms and Conditions for the Rights Issue

On October 24th, 2024, the Extraordinary General Meeting approved to carry out the Rights Issue in accordance with the following main terms:

• Anyone who, on the record date, November 4th, 2024, was listed in the share register maintained by Euroclear Sweden AB, has preferential rights to subscribe for units in the Rights Issue in relation to previous holdings of shares.
• One (1) existing share in Crunchfish entitles to (1) unit right. Two (2) unit rights entitle to subscription of one (1) unit.
• The Rights Issue comprises a maximum of 19,823,453 units where each unit consists of two (2) newly issued shares, one (1) warrant series TO 10 and one (1) warrant series TO 11.
• The subscription price is SEK 2.90 per unit, corresponding to SEK 1.45 per share. Warrants of series TO 10 and TO 11 are issued free of charge.

Terms and conditions for warrants series TO 10 and TO 11

• One (1) warrant series TO 10 entitle the right to subscribe for one (1) new share in the Company, during the period from and including 14 February, 2025 to and including 28 February, 2025 against cash payment where the subscription price is set at 70 percent of the volume-weighted average price for the Company’s share on Nasdaq First North during the period from and including 28 January, 2025 to and including 10 February, 2025, however, not more than SEK 1.88 and not less than the quota value of SEK 0.046.
• One (1) warrant series TO 11 entitle the right to subscribe for one (1) new share in the Company, during the period from and including 16 May, 2025 to and including 30 May, 2025 against cash payment where the subscription price is set at 70 percent of the volume-weighted average price for the Company's share on Nasdaq First North during the period from and including 29 April, 2025 to and including 12 May, 2025, however, not more than SEK 2.17 and not less than the quota value of SEK 0.046.
• The warrants are intended to be admitted to trading on Nasdaq First North after final registration of the Rights Issue with the Swedish Companies Registration Office.

Subscription and guarantee commitments

The Company has received subscription commitments from existing shareholders, including the Company’s second largest shareholder Corespring, of approximately SEK 5.5 million, corresponding to approximately 10 percent of the Rights Issue. The subscription commitment from Corespring is to be fulfilled through set-off against the outstanding capital amount of the loan disbursed by Corespring to the Company in September 2024. No compensation is paid for the subscription commitments. In addition, external investors have undertaken to guarantee in the aggregate approximately SEK 20.4 million, corresponding to approximately 35 percent of the Rights Issue. The Rights Issue is thus covered by subscription commitments and guarantee commitments of approximately SEK 26 million, corresponding to approximately 45 percent of the issue proceeds. For guarantee commitments, the guarantors will receive cash payment of 15 percent of the guaranteed amount or alternatively 17 percent of the guaranteed amount in the form of newly issued Units in the Company, at the same terms as Units issued in the Rights Issue. Neither the subscription nor the guarantee commitments are secured by bank guarantee, blocked funds, pledge or similar arrangements.

Prospectus

Complete terms and conditions for the Rights Issue and other information about the Company is available in the prospectus (the “Prospectus”) that was published by the Company on November 1, 2024. The Prospectus is available on the Company´s website (https://www.crunchfish.com/investors/equity-raises), Västra Hamnen Corporate Finance website (http://www.vhcorp.se), Nordic Issuing´s website (http://www.nordic-issuing.se) and Swedish Financial Supervisory Authority´s website (http://www.fi.se).

Advisors

Västra Hamnen Corporate Finance AB is financial advisor and Setterwalls Advokatbyrå AB is legal advisor to Crunchfish in connection with the Rights Issue. Nordic Issuing AB acts as issuing agent in connection with the Rights Issue.

For more information:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com

The information was submitted for publication, through the agency of the contact person set out above, at 8.30 CET on November 6th, 2024.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a device-agnostic generic trusted client application platform for offline payments, tokenized card payments as well as other mobile client / server systems. Crunchfish has been listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

Important information

The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in Crunchfish. No action has been taken and measures will not be taken to permit a public offering in any jurisdictions other than Sweden. Any invitation to the persons concerned to subscribe for units in Crunchfish will only be made through the Prospectus that Crunchfish has published on 1 November 2024 on Crunchfish’s website, https://www.crunchfish.com. The approval of the Prospectus by the Swedish Financial Supervisory Authority shall not be regarded as an approval of the shares or any other securities. This release is however not a prospectus in accordance with the definition in the Prospectus Regulation (EU) 2017/1129 (“Prospectus Regulation”) and this announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in shares, warrants or other securities in Crunchfish. In order for investors to fully understand the potential risks and benefits associated with a decision to participate in the Rights Issue, any investment decision should only be made based on the information in the Prospectus. Thus, investors are encouraged to review the Prospectus in its entirety. In accordance with article 2 k of the Prospectus Regulation this press release constitutes an advertisement.

The information in this press release may not be released, distributed or published, directly or indirectly, in or into the United States of America, Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Singapore, South Africa, South Korea, Switzerland or any other jurisdiction in which such action would be unlawful or would require registration or any other measures than those required by Swedish law. Actions in violation of these restrictions may constitute a violation of applicable securities laws. No shares, warrants or other securities in Crunchfish have been registered, and no shares, warrants or other securities will be registered, under the United States Securities Act of 1933, as amended (the “Securities Act”) or the securities legislation of any state or other jurisdiction in the United States of America and no shares, warrants or other securities may be offered, sold or otherwise transferred, directly or indirectly, in or into the United States of America, except under an available exemption from, or in a transaction not subject to, the registration requirements under the Securities Act and in compliance with the securities legislation in the relevant state or any other jurisdiction of the United States of America.

Within the European Economic Area (“EEA”), no public offering of shares, warrants or other securities (“Securities”) is made in other countries than Sweden. In other member states of the EU, such an offering of Securities may only be made in accordance with an applicable exemption in the Prospectus Regulation. In other member states of the EEA which have implemented the Prospectus Regulation in its national legislation, any offer of Securities may only be made in accordance with an applicable exemption in the Prospectus Regulation and/or in accordance with an applicable exemption under a relevant national implementation measure. In other member states of the EEA which have not implemented the Prospectus Regulation in its national legislation, any offer of Securities may only be made in accordance with an applicable exemption under national law.

In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, “qualified investors” (within the meaning of the United Kingdom version of the EU Prospectus Regulation (2017/1129/ EU) which is part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018) who are (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); (ii) high net worth entities etc. falling within Article 49(2)(a) to (d) of the Order; or (iii) such other persons to whom such investment or investment activity may lawfully be made available under the Order (all such persons together being referred to as “relevant persons”). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.

This press release may contain forward-looking statements which reflect the Company’s current view on future events and financial and operational development. Words such as “intend”, “expect”, “anticipate”, “may”, “believe”, “plan”, “estimate” and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties as they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the actual outcome could differ materially from the forward-looking statements.

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Crunchfish AB (“Crunchfish” or the “Company”) has prepared an EU Growth Prospectus (the “Prospectus”) regarding the rights issue of units with preferential rights for existing shareholders of approximately SEK 57 million before issue costs, which was resolved by the board of directors on September 20, 2024, and approved by the Extraordinary General Meeting held on October 24, 2024 (the “Rights Issue”).

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, BELARUS, CANADA, HONG KONG, JAPAN, NEW ZEALAND, RUSSIA, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURE. 

The Prospectus has today been approved and registered by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen). The Prospectus is available on Crunchfish’s website (https://www.crunchfish.com/investors/equity-raises/) and Västra Hamnen Corporate Finance AB’s website (http://www.vhcorp.se), respectively. The Prospectus will also be available on the Swedish Financial Supervisory Authority’s website (http://www.fi.se).

Timetable for the Rights Issue

For complete terms and conditions and information on the Rights Issue, please see the Prospectus.

Advisors

Västra Hamnen Corporate Finance AB is financial advisor and Setterwalls Advokatbyrå AB is legal advisor to Crunchfish in connection with the Rights Issue. Nordic Issuing AB acts as issuing agent in connection with the Rights Issue.

For more information:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com

The information was submitted for publication, through the agency of the contact person set out above, at 12.00 CET on November 1st, 2024.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a device-agnostic generic trusted client application platform for offline payments, tokenized card payments as well as other mobile client / server systems. Crunchfish has been listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

Important information

The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in Crunchfish. No action has been taken and measures will not be taken to permit a public offering in any jurisdictions other than Sweden. Any invitation to the persons concerned to subscribe for units in Crunchfish will only be made through the Prospectus that Crunchfish has published on 1 November 2024 on Crunchfish’s website, https://www.crunchfish.com. The approval of the Prospectus by the Swedish Financial Supervisory Authority shall not be regarded as an approval of the shares or any other securities. This release is however not a prospectus in accordance with the definition in the Prospectus Regulation (EU) 2017/1129 (“Prospectus Regulation”) and this announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in shares, warrants or other securities in Crunchfish. In order for investors to fully understand the potential risks and benefits associated with a decision to participate in the Rights Issue, any investment decision should only be made based on the information in the Prospectus. Thus, investors are encouraged to review the Prospectus in its entirety. In accordance with article 2 k of the Prospectus Regulation this press release constitutes an advertisement.

The information in this press release may not be released, distributed or published, directly or indirectly, in or into the United States of America, Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Singapore, South Africa, South Korea, Switzerland or any other jurisdiction in which such action would be unlawful or would require registration or any other measures than those required by Swedish law. Actions in violation of these restrictions may constitute a violation of applicable securities laws. No shares, warrants or other securities in Crunchfish have been registered, and no shares, warrants or other securities will be registered, under the United States Securities Act of 1933, as amended (the “Securities Act”) or the securities legislation of any state or other jurisdiction in the United States of America and no shares, warrants or other securities may be offered, sold or otherwise transferred, directly or indirectly, in or into the United States of America, except under an available exemption from, or in a transaction not subject to, the registration requirements under the Securities Act and in compliance with the securities legislation in the relevant state or any other jurisdiction of the United States of America.

Within the European Economic Area (“EEA”), no public offering of shares, warrants or other securities (“Securities”) is made in other countries than Sweden. In other member states of the EU, such an offering of Securities may only be made in accordance with an applicable exemption in the Prospectus Regulation. In other member states of the EEA which have implemented the Prospectus Regulation in its national legislation, any offer of Securities may only be made in accordance with an applicable exemption in the Prospectus Regulation and/or in accordance with an applicable exemption under a relevant national implementation measure. In other member states of the EEA which have not implemented the Prospectus Regulation in its national legislation, any offer of Securities may only be made in accordance with an applicable exemption under national law.

In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, “qualified investors” (within the meaning of the United Kingdom version of the EU Prospectus Regulation (2017/1129/ EU) which is part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018) who are (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); (ii) high net worth entities etc. falling within Article 49(2)(a) to (d) of the Order; or (iii) such other persons to whom such investment or investment activity may lawfully be made available under the Order (all such persons together being referred to as “relevant persons”). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.

This press release may contain forward-looking statements which reflect the Company’s current view on future events and financial and operational development. Words such as “intend”, “expect”, “anticipate”, “may”, “believe”, “plan”, “estimate” and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties as they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the actual outcome could differ materially from the forward-looking statements.

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Today, Crunchfish AB (“Crunchfish”) publishes the company’s interim report for the third quarter and nine months of 2024. Below is a brief summary of the report.

The report is available as an attached document to this press release as well as through the company’s website.

“Crunchfish focuses the business on succeeding with Digital Cash for offline payments. We are working on securing business from several revenue opportunities outlined in this quarterly report. This is what should be financing our future in offline payments. Entering commercial deals for offline payments is a process that has taken longer than Crunchfish expected. Crunchfish needs additional working capital and decided to carry out a rights issue to be able to continue product development as well as sales and marketing in India and for Central Bank Digital Currency (CBDC) projects. In addition, continue sales in other regions via partners where offline payment is prioritized such as Southeast Asia, Africa and Latin America.”, says Joachim Samuelsson, Crunchfish’s CEO.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com

This information is Crunchfish AB obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 1st November 2024 at 08:30 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a device-agnostic generic trusted client application platform for offline payments, tokenized card payments as well as other mobile client / server systems. Crunchfish has been listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

Find here the Q3 report

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Crunchfish today released a new version of the Digital Cash SDK which brings support for programmable money. Programmable money brings the possibility to dedicate payments for pre-defined categories, for example meal benefits, health welfare, allowances, etc. A sub-wallet is dedicated for the specific category of payments and validated to ensure that debit is made from the correct sub-wallet. This is an important feature especially for CBDC implementations but is also relevant for commercial payment applications.

Digital Cash SDK 2.6 will be launched at the Payments, Innovation, And Technology Week in London. This event, organized by Currency Research, gathers Central Banks, regulators, payment operators and technology providers from across the world. CPO Magnus Lageson will host a Lunch Session on Tuesday September 24, where he will present how Digital Cash now also adds support for programmable money. 

The Government of India introduced the Direct Benefit Transfer (DBT) program to transfer/credit subsidies directly into a person’s bank account. By using programmable money, it is possible to ensure that e.g. a food benefit is assigned to an applicable sub-wallet and only used for its intended purpose.

Focus areas for the new Digital Cash SDK have been to add functionality to meet general requirements from the market, including e.g. programmable money and new security features. Also, specific requirements identified in the ongoing customer integrations have been implemented to strengthen the Digital Cash product portfolio even further.

Other highlights in the new Digital Cash SDK version 2.6 include:

• Customer specific reference field
• Improved application interfaces and documentation to simplify integration for customers
• Support for iOS 18 and Android 15
• Improved certificate management 
• Improved security features

“Thanks to our ongoing projects and partners we have received new requirements which our development team has been working hard to finalize. I’m really happy that we now can offer programmable money support to our customers and partners in order to support pre-defined purposes of payments. One example of such application is the Indian DBT program. I’m very much looking forward to present our latest developments at the Payments, Innovation, And Technology Week in London. ” says Magnus Lageson, CPO at Crunchfish Digital Cash.

More information about Direct Benefit Transactions in India is available here.

The new version will be made available to existing customers through the Crunchfish Developer portal. 

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information was provided by the contact person above for publication on September 24th, 2024, at 08:30 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with subsidiary in India.

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Crunchfish AB (“Crunchfish”) half-year report 2024 webinar is now available, where Crunchfish CEO Joachim Samuelsson is interviewed by Chief Analyst Martin Dominique from Västra Hamnen Corporate Finance.

The webinar about Crunchfish half-year report for 2024 is now available via the following link:

Webinar half-year report

Crunchfish half-year report for 2024 is available via the following link:

Crunchfish half-year report 2024

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information was provided by the above for publication on 26th August 2024 at 08.30 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a device-agnostic generic trusted client application platform for offline payments, tokenized card payments as well as other mobile client / server systems. Crunchfish has been listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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