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Code Chain New Continent to Acquire Filecoin Mining Assets for USD 15.9m
Wednesday 15 September 2021

Chinese eco-technology company Code Chain New Continent Ltd. (NASDAQ: CCNC) has entered into a non-binding letter of intent (LOI) to acquire certain assets of with Shenzhen Jindeniu Electronics Ltd., including Filecoin (FIL) mining assets, the company said.

Pursuant to the LOI, Code Chain agrees to purchase Filecoin servers, FIL digital currency PiB computing power, and FIL digital currency from Jindeniu for approximately USD 15.9m in cash.

Following the LOI's execution, Code Chain will arrange its personnel, representatives and advisors to perform due diligence on the Target Assets.

Upon completion of the due diligence and the company's satisfaction of the results, the two parties will enter into a definitive assets purchase agreement within five days.

The definitive assets purchase agreement's execution shall be no later than December 31, 2021.

Code Chain New Continent Ltd. 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.
Date Published: 15/09/2021