NEW YORK, Oct. 4, 2021 /PRNewswire/ -- Code Chain New
Continent Limited (the "Company," or "Code Chain" or "We") (NASDAQ:
CCNC), a leading eco-technology company, is pleased to announce
that it entered into an asset purchase agreement (the "Agreement")
with Shenzhen Jindeniu Electronics Limited on September 27, 2021.
The purchased assets are valued at USD
15.9 million, which includes storage servers for cloud
computing. These assets have been delivered and the transaction
completed as of September 27,
2021.
David (Weidong) Feng, Co-CEO of
the Company, stated, "With the successful completion of the asset
purchase, Code Chain plans to continue searching the mining
opportunities to expand our presence and enriching our
cryptocurrency portfolio."
He Continued, "We believe the Company is well-positioned for
this next phase of growth. This transaction will provide
enhancements to the current mining operation, drive meaningful
growth, and create shareholder value. Going forward, the management
hopes to further concentrate its business in market environment
with friendly governance."
For more details about the asset purchase agreement, please see
the Current Report on Form 8-K filed with the SEC on October 1, 2021, which may be viewed at
www.sec.gov.
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