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

The company purchased the rights, which going forward would be referred to as SDG, project SDG, by issuing 400,000,000 ordinary shares in the company at a price of 1p per share.

In 2016, SDG founder Christopher Akers originated the innovative idea to raise at least US$1.0bn through an annual global blockchain raffle initiative, the company said.

As part of this initiative, around 50% of the raffle proceeds were 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.

'It is the current intention that prior to calendar year end 2019 a final decision is made in conjunction with the SDG stakeholders to activate the first draw during the second half of 2020, the company said.

Over the next several months a new dedicated business structure for SDG would be established, the company said. 'As a first step the Directors intend to deal with a number of clearly identified and manageable risk factors. This should be achievable in a timely fashion and with a limited amount of resources.'

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