HPIL Holding (HPIL), Announces that it has entered into a letter of intent to sell all assets of NFT Procurement to Stargaze Entertainment Group (STGZ)
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Rhea-AI Summary
HPIL Holding (OTC: HPIL) has entered a letter of intent to sell its NFT Procurement division, which includes over 130 NFT Domains, to Stargaze Entertainment Group Inc. The transaction will involve a share swap, subject to approvals, and aims to distribute shares of STGZ to HPIL shareholders. The deal is expected to close within 10-15 days, by October 15, 2021. CEO Stephen Brown expressed optimism about the partnership, highlighting its potential benefits for both companies.
Positive
- Transaction to enhance HPIL's strategic position in the NFT market.
- Potential share distribution of STGZ to HPIL shareholders may increase shareholder value.
Negative
- Dependence on regulatory approvals could delay completion of the transaction.
Details
News Market Reaction – HPIL
The recorded move for HPIL in the trading session of this news was -7.02%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC, Sept. 28, 2021 /PRNewswire/ -- HPIL Holding (the "Company") (OTC: HPIL) announces that it has entered into a letter of intent to sell all assets of NFT Procurement a wholly owned division of HPIL Holding to Stargaze Entertainment Group Inc. The assets are over 130 NFT Domains .com. The transaction will be based on a share swap between both companies, once officially approved. The plan will be to disperse a share distribution of STGZ to HPIL shareholders. The closing is expected to be completed within the next 10-15 days but no later than October 15th, 2021.
"I am truly excited to make this deal and it should be good for both companies and put the NFT asset in a place where they can flourish immediately with the Stargaze team," said Stephen Brown CEO
Safe Harbor: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filing.
For more information:
Stargaze Entertainment Group Inc
1720 650 West Georgia St
Vancouver, BC V6B 4N8
Contact: Stephen Brown, CE0
info@hpilholding.ca
+1 778-819-1956
View original content:SOURCE HPIL Holding
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