BIT Mining To Sell Remaining Shares In Crypto Flow HK$18.31 Mln

RTTNews | 820 days ago
Stocktwits
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%.

Tags: BTCM
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FDA Upgrades Medtronic Recall Of Newport Ventilators To Class I

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Medical devices maker Medtronic plc has urged customers to discontinue clinical use of the recently recalled certain Newport branded ventilators and certain related service parts after the U.S. Food and Drug Administration upgraded it to a Class I recall. According to the FDA, a Class I recall is the most serious type of recall, a situation where the use of, or exposure to, a violative product...
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