BIT Mining To Sell Remaining Shares In Crypto Flow HK$18.31 Mln
(RTTNews) - Cryptocurrency mining company BIT Mining Ltd (BTCM) announced Wednesday that the Company entered into a share sale and purchase agreement with an unaffiliated third party, pursuant to which the Company agreed to sell, and the Buyer agreed to purchase, all of the Company's remaining share ownership in Crypto Flow Technology Ltd., previously known as Loto Interactive Ltd.
The remaining share in Crypto Flow represents of 48.20 million shares or about 8.79% of the total issued share capital of Crypto Flow, at the price of HK$0.38 per share for the total consideration of HK$18.31 million.
The transaction and its terms are subject to satisfaction of the conditions set out in the Sale and Purchase Agreement, including by relevant regulatory authorities. Upon completion of the transaction, the Company will not own any shares in Crypto Flow.
Pursuant to the transaction previously announced on July 12, 2022, and completed on July 26, 2022, the Company sold approximately 51% of the total issued share capital of Crypto Flow, reducing the Company's share ownership in Crypto Flow to 8.79%.
European Markets Close Mostly Lower After Cautious Session
TSX Hits New Record High, Stays Firm As Resources Stocks Shine
Dollar Rises Amidst Mixed Jobs Data, Soft Inflation
Bay Street Likely To Extend Gains On Commodities Strength
Major European Markets Largely Subdued In Thin Trading
FTSE 100 Slips Nearly 0.5%; Mining Stocks Move Up
CAC 40 Down Nearly 0.5% In Cautious Trade
