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Future FinTech to Acquire Money Payment Service Firm Khyber Money Exchange
Thursday 22 April 2021

US-based blockchain-based e-commerce business Future FinTech Group Inc. (NASDAQ: FTFT) has signed a preliminary term sheet to acquire 100% of the equity of Khyber Money Exchange Ltd. from its shareholder, the company said.

The Term Sheet represents terms for a proposed transaction subject to definitive documentation and is non-binding except for its 'Exclusive Period' and 'Confidentiality'; and 'Governing Law' sections.

Khyber Exchange is a money transfer company with a platform for transferring money worldwide through one of its agent locations or via its online portal, mobile platform or over the phone.

Khyber Exchange is headquartered in the UK and has offices in Germany and Italy.

According to the Term Sheet, the company will acquire 100% of the equity of Khyber Exchange at a purchase price of EUR 685,000 (approximately USD 820,170).

The acquisition will be subject to due diligence by the company and the Term Sheet stipulates that the company has a 30-day period in which it has an exclusive right to negotiate for and purchase the equity of Khyber Exchange.

Future FinTech Group Inc is a leading blockchain e-commerce company and a service provider for financial technology incorporated in Florida.

The company's operations include a blockchain-based online shopping mall platform, Chain Cloud Mall, a cross-border e-commerce platform (NONOGIRL), an incubator for blockchain based application projects and financial services for the supply chain industry.

The company is also engaged in the development of blockchain based e-Commerce technology as well as financial technology.
Date Published: 22/04/2021