Code Chain New Continent: Rises on deal to buy open-source cryptocurrency miner
26/04/2021 18:20
** Shares of eco-tech co CCNC.O up 7.6% at $3.26
** CCNC to acquire Doo Ltd, a Filecoin mining service
provider urn:newsml:reuters.com:*:nPn7ySsJLa
** Filecoin is an open-source, distributed storage and
digital payment system
** Code Chain says preliminary purchase price for Doo is
$79.8 mln, adjustable based on asset appraisal, payable by
issuance of CCNC common stock
** Both parties plan to enter into a definitive equity
transfer agreement after asset appraisal and due diligence are
completed
** Price of common stock will be determined based on market
price as of the date of the definitive equity transfer agreement
** Amount of issuance shall not be more than 19.99% of
CCNC's outstanding shares
** CCNC up 68% so far this year
(Reporting by Arunima Kumar in Bengaluru)
((Arunima.Kumar@thomsonreuters.com))