QINGDAO, China, Jan. 19, 2021 /PRNewswire/ — SOS Minimal (NYSE: SOS) (the “Corporation” or “SOS”) introduced nowadays it has entered into a non-binding letter of intent to acquire FXK Tech Company(“FXK”), a Canadian-based mostly company, specializing in the blockchain technologies consulting and functions and assistance for cryptocurrency exchanges and cloud crypto algorithmic power exchanges, to more increase SOS ecosystem of blockchain and cryptocurrencies, as very well as to expand its operations to North The usa.
FXK is a certified crypto technological innovation supplier in Canada. Its recent providers and solutions include the style and design, development, functions and help of exchange platforms of cryptocurrencies and cloud crypto algorithmic electrical power, and blockchain-based methods.
SOS is an emerging blockchain-based and massive info-pushed promoting and services company, with a nationwide membership foundation of about 20 million in China. Recently, SOS has outlined its method in blockchain and cryptocurrencies, which incorporate a collection of initiatives to increase its organization into cryptocurrency mining as very well as cryptocurrency safety and coverage. The core infrastructure of SOS rescue, insurance coverage promoting and provider supply chain is crafted on huge information, blockchain-based technological innovation, cloud computing, AI, satellite, and 5G network, etcetera.
Pursuant to the Letter of Intent, SOS is anticipated to receive 100% of the superb shares of FXK for a mix of Course A everyday shares and cash. The Company’s planned acquisition of FXK is aimed to more grow and upgrade its ecosystem of cryptocurrencies and electronic assets as perfectly as to broaden its organization to North The united states. As the transaction proceeds, the Firm will publicly disclose essential info either via push releases or SEC filings, as appropriate.
Dr Huazhong Yan, Vice President of SOS Details Technological innovation Co. Ltd, the Firm’s functioning subsidiary, commented, “with its leading-edge technologies in cryptocurrency exchanges, and crypto algorithmic energy exchanges, acquisition of FXK will further broaden our ecosystem of cryptocurrencies and cloud crypto mining and stability and insurance.”
SOS Chairman Yandai Wang also commented, “FXK is a leader in cryptocurrency and crypto algorithmic electricity trade systems. If the acquisition is finished, our functions will be expanded to North The usa as perfectly as expedite the executions of our method in cryptocurrencies and cloud crypto mining and security and insurance coverage.”
Completion of the transaction is subject matter to because of diligence investigations by the related parties, the negotiation and execution of a definitive share exchange arrangement, pleasure of the circumstances negotiated therein including the acceptance of the Company’s Board of Administrators, acceptance by NYSE of the listing of shares issued in the transaction, and the gratification of other customary closing conditions. There can be no assurance that a definitive arrangement will be entered into or that the proposed transaction will be consummated. Further, audience are cautioned that these portions of the LOI that explain the proposed transaction, like the consideration to be issued therein, are non-binding.
About FXK Tech Corporation
FXK Tech Corporation (“FXK”) is a Canadian-primarily based organization, headquartered in Richmond, B.C, specialised in the blockchain technological know-how consulting, and functions and assistance for crypto currency and cloud crypto algorithmic power exchanges. FXK is a licensed foremost-edge crypto engineering company fully complied with provisional and federal restrictions and regulation. The core R&D crew is composed of a team of leading researchers in blockchain and cryptocurrencies. Its existing services and items include: the style and design, construction, functions and guidance for exchange platforms of cryptocurrencies and loud crypto algorithmic electricity, and blockchain-dependent solutions. For additional facts, please pay a visit to: https://www.fxk.com/
About SOS Restricted
SOS Limited, through its operating subsidiary, SOS Info Engineering Co., Ltd. (“SOS”) is a high-technology firm furnishing a huge variety of products and services to its company and personal users, like advertising facts, engineering and alternatives for unexpected emergency rescue solutions. SOS transforms electronic technological know-how into knowledge-driven functions by means of the investigate and enhancement of large details, cloud computing, Online of Factors, blockchain and artificial intelligence.
We have made a SOS cloud unexpected emergency rescue company software as a assistance (SaaS) platform with a few significant products classes: essential cloud, cooperative cloud, and info. This program presents impressive advertising and marketing remedies to consumers these kinds of as insurance policy businesses, financial establishments, health-related establishments, health care providers, auto brands, protection vendors, senior dwelling help providers, and other services providers in the emergency rescue expert services marketplace.
SOS has acquired a countrywide large-tech business certification and the title of “big knowledge star organization,” awarded by Gui’an New District Government. Being on the forefront of digital technology innovation, the Organization has registered 32 software package copyrights and 2 patents. For additional information, make sure you visit: http://www.sosyun.com/
Ahead-On the lookout Statements
Particular statements created herein are “ahead-searching statements” inside of the indicating of the “harmless harbor” provisions of the Personal Securities Litigation Reform Act of 1995. Ahead-wanting statements could be identified by the use of words and phrases such as “anticipate,” “believe,” “anticipate,” “estimate,” “prepare,” “outlook,” and “project” and other identical expressions that predict or show foreseeable future functions or developments or that are not statements of historical matters. This sort of ahead-hunting statements include things like timing of the proposed transaction the business ideas, targets, expectations and intentions of the get-togethers, SOS’s estimated and upcoming outcomes of operations, business approaches, aggressive placement, industry natural environment and likely development possibilities sector acceptance of our items the final influence of the current Coronavirus pandemic, or any other overall health epidemic, on our business, our investigation plans, health care programs or the world-wide economic system as a entire our intellectual residence our reliance on 3rd celebration corporations our expected financial and functioning results, which includes predicted sources of revenues our assumptions relating to the dimensions of the available current market, benefits of our merchandise giving, item pricing, timing of products launches management’s expectation with regard to potential acquisitions statements regarding our ambitions, intentions, strategies and expectations, including the introduction of new goods and marketplaces and our cash needs and funding ideas and and many others. These ahead-on the lookout statements reflect the current evaluation of present information and facts and are topic to different pitfalls and uncertainties. As a final result, caution have to be exercised in relying on ahead-searching statements. SOS might not understand its anticipations, and its beliefs may possibly not demonstrate right. Owing to known and unidentified challenges, our genuine benefits may perhaps vary materially from our anticipations or projections. All forward-wanting statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these aspects. Other than as necessary less than the securities guidelines, the Company does not think a responsibility to update these forward-wanting statements.
Supplemental info about these and other elements that might affect our anticipations and projections can be located in our periodic filings with the SEC, such as our Once-a-year Report on Sort 20-F for the fiscal calendar year endedDecember 31, 2019. SOS’s SEC filings are obtainable publicly on the SEC’s site at www.sec.gov. SOS disclaims any obligation to update the ahead-on the lookout statements, irrespective of whether as a consequence of new facts, future occasions or otherwise.
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