AlphaTON Capital Corp. (Nasdaq: ATON), formerly known as Portage Biotech Inc. (Nasdaq: PRTG), has announced the launch of a strategic initiative to acquire approximately $100 million worth of Toncoin (TON) and establish a dedicated digital asset treasury. This move aims to bolster the growth of Telegram’s expansive ecosystem, which boasts over a billion monthly active users.
The company has secured initial financing through a private placement, raising $38.2 million by issuing 6.7 million shares at $5.73 each. Additionally, AlphaTON has entered into a loan agreement with BitGo Prime, LLC for up to $35 million, which will be utilized to purchase TON tokens from third-party sources.
AlphaTON’s comprehensive strategy encompasses three core components:
- Digital Asset Treasury Build: Aggressively acquiring TON tokens through public exchanges, over-the-counter (OTC) transactions, and strategic partnerships.
- Yield-Driven Treasury Growth: Engaging in staking and validation operations to generate recurring yields, thereby reinforcing network security and expanding the treasury in a non-dilutive manner.
- Ecosystem Development: Investing in and nurturing promising projects within Telegram’s mini-app ecosystem, including decentralized finance (DeFi) protocols, gaming applications, and enterprise solutions.
Brittany Kaiser, a renowned advocate for data protection and digital assets, has been appointed as the Chief Executive Officer and Board Member of AlphaTON Capital. Kaiser brings a wealth of experience, having advised over 50 governments and organizations on responsible digital innovation and decentralized technologies.
Enzo Villani, Founder and CEO of Alpha Transform Holdings and co-founder of Nasdaq Global Corporate Solutions, will serve as Executive Chairman and Chief Investment Officer. Villani emphasizes the convergence of traditional finance with blockchain infrastructure, highlighting the integration of platforms like Telegram with blockchain as a significant market opportunity.
AlphaTON Capital’s strategic initiative positions the company at the forefront of the evolving digital asset landscape, offering shareholders exposure to one of the fastest-growing segments of the social media and blockchain markets. The company’s commitment to supporting the growth of open-source, decentralized applications and infrastructure underscores its dedication to fostering innovation within Telegram’s expansive ecosystem.
