Olive Tree Estates Ends Blockchain JV Agreement

Olive Tree Estates Limited (SG:1H2) has released an update.

Olive Tree Estates Limited has announced the termination of a subscription agreement with Providence MetaVentures for a joint venture aimed at creating a blockchain-enabled crowdfunding platform. Despite the successful launch of the platform, it is expected to operate as a non-profit, which does not align with Olive Tree’s investment goals of generating economic returns while addressing global needs sustainably. The termination will not materially impact the company’s net tangible assets or earnings per share for the financial year ending 2024.

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