Tickers: PINX:QEBR
Tags: Biotechnology, Heathcare, Education, Mining
Deal for 51% of Jihye Technology will grow QEBR's holdings in crypto assets
Las Vegas, NV / TheNewswire / September 21, 2018 - Virtual Medical International, Inc. (OTCMKTS: QEBR) announced that today it entered into a letter of intent to acquire 51% of the equity interests in Jihye Technology Ltd. ("Jihye"), a Hong Kong-based company that plans to open and operate a number of Filecoin farms globally, including an initial farm in Hong Kong, which is currently under construction, and subsequent farms in Japan, Korea, Singapore and Toronto. The Filecoin is the initial crypto currency done by ICO to support the newest innovation in the internet, the interplanetary file system (IPFS), which will be launched soon.
The parties plan to structure the transaction as an exchange of equity shares, with QEBR owning a majority stake in Jihye at closing, and the shareholders of Jihye owning 5,100,000 shares of common stock of QEBR at closing. The terms of the letter of intent are not binding on the parties and are subject to the execution of definitive agreements, which is contemplated to occur before the close of fiscal year 2018.
In May 24, 2018, QEBR announcement the acquisition of a strategic investment into a hydropower and Bitcoin mining business in western Sichuan, China. The Jihye acquisition would further QEBR's reach into the exciting and growing crypto asset sector.
Forward Looking Statements
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