Connecting Excellence Group Plc (AQSE:XCE) (USOTC:XCELF) has secured additional investment from strategic backer Adam Back, while also increasing its Bitcoin holdings as part of its treasury strategy.
The company confirmed that Adam Back has agreed to subscribe for 33,457,143 new ordinary shares at 1.75 pence per share, matching the closing mid-price on 22 April 2026. The subscription will raise gross proceeds of £585,500, which will be directed toward expanding the group’s Bitcoin treasury.
Following admission of the new shares, Connecting Excellence will have 415,622,830 ordinary shares in issue, each carrying one voting right.
Scott Ellam, Chief Executive Officer of Connecting Excellence Group, commented: “It’s a privilege to have Adam Back as a strategic investor in XCE. He is one of the leading figures in the history of Bitcoin so we are delighted that he has increased his investment and support for our ongoing strategy.
“Since we embarked on our journey from the first BTC purchase as a private company in 2021, to one of the first listed operational businesses with an integrated BTC treasury at the end of 2025, we have continued to grow our executive recruitment operations in conjunction with the expansion of our BTC balance sheet. We look forward to providing further updates on our progress to the market.”
Bitcoin Purchase Lifts Treasury Holdings
Alongside the fundraising, the company announced it has purchased 10 Bitcoin for a total of £585,000. This brings its total holdings to 62.941 Bitcoin, valued at £3,685,196.33, reinforcing its commitment to a Bitcoin-focused treasury model.
Strategy Combines Recruitment Growth with Bitcoin Treasury
Connecting Excellence positions itself as an international executive recruitment group with a long-term Bitcoin treasury strategy. Its core business, Spencer Riley, specialises in placing senior executives across high-growth sectors including engineering, logistics, life sciences, automation, technology, and professional services.
The company aims to align its recruitment growth with its Bitcoin strategy, using performance-based incentives and equity structures to attract talent, drive revenue, and support expansion. It is also developing a dedicated Bitcoin-focused recruitment division to connect executives with opportunities in both Bitcoin-native companies and traditional businesses seeking digital asset expertise.
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