NEW YORK, September 14, 2021 / PRNewswire / – Code Chain New Continent Limited (the “Company” or “Code Chain” or “we”) (NASDAQ: CCNC), a leading eco-technology company, announced today that it has signed a non-binding letter of intent (the ” LOI “) with Shenzhen Jindeniu Electronics Limited (” Jindeniu “).
Under the LOI, Code Chain agrees to purchase certain assets, including Filecoin (“FIL”) servers, PiB computing power for FIL digital currency, and FIL digital currency (“Target Assets”) from Jindeniu. The total purchase price is approx. $ 15.9 million, payable in cash.
After executing the LOI, Code Chain will arrange for its employees, agents and consultants to perform due diligence on the target assets. Upon completion of the due diligence and the company’s satisfaction with the results, the two parties will enter into a definitive asset purchase agreement within five days. The execution of the definitive purchase agreement for assets must be carried out no later than. being December 31, 2021.
David (Weidong) Feng, Co-CEO of the company, stated, “The LOI is an important step in the Filecoin success of Code Chain. We look forward to continuing our efforts to expand our Filecoin footprint after the acquisition China Filecoin miners. Filecoin is the native token of the Filecoin Network, a decentralized data exchange platform that offers a thriving ecosystem of independent storage providers while removing barriers. I am confident that this will be the number one trend for the industry and that Code Chain will position itself ahead of the competition. “
About Code Chain New Continent Limited
Code Chain New Continent Limited is engaged in the research, design and development of electronic tokens that contain the five W elements (when, where, who, why, what), geographic location via the Beidou satellite system and identity information using Code chain combine 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 types of consumer behavior that involve code scanning. The company recently diversified its business into Bitcoin mining and aims to become a vertically integrated cryptocurrency miner.
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SOURCE New Continent Limited code chain
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