Telegram is going to return money to investors in case of failure with the launch of the TON platform and its cryptocurrency until October 2019. This is reported in documents sent to potential investors by the organizers of ICO Telegram.
At the same time, one of the documents notes that the company does not guarantee that it will have enough funds to return to investors:There is no guarantee that the issuer or Telegram will have sufficient funds for appropriate payments under the terms of the agreement. Neither the issuer nor Telegram has any obligation to use the funds raised from the sale of tokens in favor of investors.
Recall that during the first round of ICO for private investors Telegram attracted $ 850 million. Last week, Telegram sent letters to investors with an offer to participate in the second closed pre-sale of its cryptocurrency. Although the exact amount is not called, this time the company hopes to attract no less money than at the first stage.
Thus, even before the beginning of public sales, which will begin in March, Telegram can receive $ 1.6 billion of investment for the development of the new Telegram Open Network (TON) platform with its cryptocurrency.
In the first stage of pre-sale, 81 accredited investors took part, among which was the founder of Qiwi Sergey Solonin. According to Russian media, Roman Abramovich also invested in the project.
Information Source: Telegram