Monday, March 8, 2021
10:51 AM EST – Hello Pal International Inc. : Announced that it has entered into a letter of intent with Shanghai Yitang Data Technology Co. Ltd. The Company has agreed to acquire the initial 15% interest in the Mining Facility for a cash payment of RMB 5,000,000 (equal to approximately C$975,000 based on the exchange rate posted by the Bank of Canada on March 5, 2021 of 0.1950) and the Company will have the option to acquire a further 20% interest in the Mining Facility (for a total interest of 35%) for an additional cash payment to be agreed upon between the parties, each acting reasonably, however, not to exceed RMB 8,000,000 (equal to approximately C$1,560,000 based on the exchange rate posted by the Bank of Canada on March 5, 2021 of 0.1950). The Company has also agreed to acquire the initial 51% interest in the Mining Assets for C$1,500,000 in cash and 1,800,000 units of the Company (the “Consideration Units”) valued at C$2,250,000. Hello Pal International Inc. (C.HP) shares were up 29 cents at 1.9.
Stocks in Play: Hello Pal International Inc., Mon, 08 Mar 2021 11:00:02 EST