NEW YORK, Sept. 14, 2021 /PRNewswire/ -- Code Chain New
Continent Limited (the "Company," or "Code Chain" or "We") (NASDAQ:
CCNC), a leading eco-technology company, today announced that it
entered into a non-binding letter of intent (the "LOI") with
Shenzhen Jindeniu Electronics Limited("Jindeniu").
Pursuant to the LOI, Code Chain agrees to purchase certain
assets, including Filecoin ("FIL") servers, FIL digital currency
PiB computing power, and FIL digital currency ("Target Assets")
from Jindeniu. The total purchase price will be approximately
USD 15.9 million, payable in
cash.
Following the LOI's execution, Code Chain will arrange its
personnel, representatives, and advisors to perform due diligence
on the Target Assets. Upon completion of the due diligence and the
Company's satisfaction of the results, the two parties will enter
into a definitive assets purchase agreement within five days. The
definitive assets purchase agreement's execution shall be no later
than December 31, 2021.
David (Weidong) Feng, Co-CEO of
the Company, stated, "The LOI marks an important step for Code
Chain's Filecoin success. We are excited to continue our efforts in
expanding our Filecoin footprint after acquiring China's Filecoin miner. Filecoin is the native
token of the Filecoin Network, a decentralized data-sharing
platform that offers a thriving ecosystem of independent storage
providers while eliminating barriers. I am confident that this will
become the major trend for the industry, and Code Chain is placing
itself ahead of the competition."
About Code Chain New Continent Limited
Code Chain New Continent Limited engages in the research,
design, and development of electronic tokens that combine the
five-W elements (when, where, who, why, what), geographic location
via the Beidou satellite system, and identity information using
Code Chain technology. The electronic tokens are unique, tradable,
and inheritable digital assets and cannot be tampered with. The
electronic tokens are based on and stored in the Code Chain system
and can be used to monitor and document all kinds of consumer
behaviors that involve code-scanning. The Company has recently
diversified its business into Bitcoin mining and is committed to
becoming a vertically integrated cryptocurrency miner.
Safe Harbor Statements
This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, including certain plans, expectations, goals, and
projections, which are subject to numerous assumptions, risks, and
uncertainties. These forward-looking statements may include, but
are not limited to, statements containing words such as "may,"
"could," "would," "plan," "anticipate," "believe," "estimate,"
"predict," "potential," "expects," "intends", "future" and
"guidance" or similar expressions. These forward-looking statements
speak only as of the date of this press release and are subject to
change at any time. These forward-looking statements are based upon
management's current expectations and are subject to a number of
risks, uncertainties and contingencies, many of which are beyond
the Company's control that may cause actual results, levels of
activity, performance or achievements to differ materially from any
future results, levels of activity, performance or achievements
expressed or implied by such forward-looking statements. The
Company's actual results could differ materially from those
contained in the forward-looking statements due to a number of
factors, including those described under the heading "Risk Factors"
in the Company's public filings with the Securities and Exchange
Commission, including the Company's annual report on 10-K. The
Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required under applicable
law.
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SOURCE Code Chain New Continent Limited