SOS Ltd. Enters into Non-Binding Letter of Intent to Receive a Cryptocurrency Technological know-how Supplier centered in Canada
QINGDAO, China, Jan. 19, 2021 /PRNewswire/ — SOS Constrained (NYSE: SOS) (the “Business” or “SOS”) declared these days it has entered into a non-binding letter of intent to receive FXK Tech Company(“FXK”), a Canadian-dependent corporation, specializing in the blockchain technologies consulting and operations and assistance for cryptocurrency exchanges and cloud crypto algorithmic power exchanges, to further more increase SOS ecosystem of blockchain and cryptocurrencies, as effectively as to expand its functions to North The usa.
FXK is a certified crypto technological innovation company in Canada. Its latest services and items include things like the style, construction, functions and help of trade platforms of cryptocurrencies and cloud crypto algorithmic power, and blockchain-centered methods.
SOS is an rising blockchain-primarily based and large facts-driven advertising and assistance supplier, with a nationwide membership foundation of close to 20 million in China. Lately, SOS has outlined its strategy in blockchain and cryptocurrencies, which include things like a sequence of initiatives to increase its organization into cryptocurrency mining as perfectly as cryptocurrency security and insurance coverage. The core infrastructure of SOS rescue, insurance policy promoting and support provide chain is constructed on large knowledge, blockchain-centered technological know-how, cloud computing, AI, satellite, and 5G community, and so on.
Pursuant to the Letter of Intent, SOS is predicted to purchase 100% of the superb shares of FXK for a blend of Class A everyday shares and money. The Firm’s prepared acquisition of FXK is aimed to even further expand and enhance its ecosystem of cryptocurrencies and digital assets as effectively as to develop its business to North The us. As the transaction proceeds, the Corporation will publicly disclose essential information and facts both via push releases or SEC filings, as correct.
Dr Huazhong Yan, Vice President of SOS Information Technological know-how Co. Ltd, the Company’s running subsidiary, commented, “with its major-edge technologies in cryptocurrency exchanges, and crypto algorithmic electrical power exchanges, acquisition of FXK will further more extend our ecosystem of cryptocurrencies and cloud crypto mining and stability and coverage.”
SOS Chairman Yandai Wang also commented, “FXK is a chief in cryptocurrency and crypto algorithmic ability trade technologies. If the acquisition is done, our operations will be expanded to North The usa as properly as expedite the executions of our strategy in cryptocurrencies and cloud crypto mining and safety and insurance policy.”
Completion of the transaction is topic to owing diligence investigations by the suitable get-togethers, the negotiation and execution of a definitive share trade arrangement, satisfaction of the circumstances negotiated therein which include the approval of the Company’s Board of Directors, approval by NYSE of the listing of shares issued in the transaction, and the pleasure of other customary closing disorders. There can be no assurance that a definitive arrangement will be entered into or that the proposed transaction will be consummated. Further, viewers are cautioned that all those parts of the LOI that describe the proposed transaction, including the thing to consider to be issued therein, are non-binding.
About FXK Tech Company
FXK Tech Corporation (“FXK”) is a Canadian-based firm, headquartered in Richmond, B.C, specialised in the blockchain technologies consulting, and functions and assist for crypto forex and cloud crypto algorithmic electric power exchanges. FXK is a accredited major-edge crypto technologies supplier totally complied with provisional and federal regulations and law. The core R&D staff consists of a group of major scientists in blockchain and cryptocurrencies. Its present services and items involve: the structure, development, functions and assistance for trade platforms of cryptocurrencies and loud crypto algorithmic ability, and blockchain-centered answers. For much more details, please go to: https://www.fxk.com/
About SOS Constrained
SOS Limited, through its working subsidiary, SOS Facts Technological innovation Co., Ltd. (“SOS”) is a high-technologies business giving a huge vary of expert services to its corporate and particular person customers, together with advertising and marketing data, technological know-how and solutions for emergency rescue expert services. SOS transforms digital know-how into info-pushed operations via the research and improvement of big info, cloud computing, Net of Issues, blockchain and synthetic intelligence.
We have created a SOS cloud unexpected emergency rescue provider computer software as a service (SaaS) system with a few key merchandise types: essential cloud, cooperative cloud, and information and facts. This process provides modern internet marketing remedies to clients these types of as insurance plan organizations, monetary establishments, medical institutions, healthcare companies, auto brands, stability suppliers, senior dwelling guidance companies, and other services suppliers in the crisis rescue products and services market.
SOS has acquired a nationwide significant-tech company certification and the title of “major data star organization,” awarded by Gui’an New District Government. Keeping on the forefront of electronic technological know-how innovation, the Organization has registered 32 application copyrights and 2 patents. For far more info, please go to: http://www.sosyun.com/
Ahead-Searching Statements
Sure statements made herein are “forward-searching statements” within the that means of the “secure harbor” provisions of the Private Securities Litigation Reform Act of 1995. Ahead-seeking statements may be recognized by the use of terms these kinds of as “foresee,” “think,” “anticipate,” “estimate,” “system,” “outlook,” and “project” and other related expressions that predict or point out potential activities or tendencies or that are not statements of historical matters. These ahead-hunting statements incorporate timing of the proposed transaction the small business ideas, objectives, anticipations and intentions of the functions, SOS’s approximated and future results of functions, small business techniques, aggressive place, business ecosystem and opportunity development prospects marketplace acceptance of our items the final effect of the latest Coronavirus pandemic, or any other health and fitness epidemic, on our enterprise, our investigation plans, healthcare programs or the world-wide financial state as a entire our mental residence our reliance on 3rd celebration organizations our anticipated economic and working outcomes, together with expected resources of revenues our assumptions about the size of the offered market place, advantages of our item giving, merchandise pricing, timing of product or service launches management’s expectation with regard to upcoming acquisitions statements regarding our aims, intentions, designs and expectations, together with the introduction of new products and markets and our hard cash requires and funding designs and etcetera. These forward-searching statements replicate the recent evaluation of present data and are subject to a variety of risks and uncertainties. As a outcome, warning ought to be exercised in relying on forward-on the lookout statements. SOS could not realize its anticipations, and its beliefs may not verify appropriate. Because of to regarded and mysterious dangers, our precise effects could vary materially from our expectations or projections. All forward-searching statements attributable to the Firm or persons acting on its behalf are expressly qualified in their entirety by these variables. Other than as expected beneath the securities laws, the Corporation does not think a obligation to update these forward-searching statements.
More facts regarding these and other factors that might influence our anticipations and projections can be discovered in our periodic filings with the SEC, like our Once-a-year Report on Form 20-F for the fiscal year endedDecember 31, 2019. SOS’s SEC filings are out there publicly on the SEC’s site at www.sec.gov. SOS disclaims any obligation to update the ahead-seeking statements, whether or not as a end result of new info, potential occasions or usually.
Source SOS Minimal
