75 million warrants NOT 150 Million warrants!Very poor execution of a press release Frank. Albeit Frank is no doubt a straight shooter, this does not speak well for professionalism! They've had all weekend to essentially rewrite the Feb 8th press release. You guys couldn't get this right... wtf?
I caught this right away when the news came out but figured I would let the market digest the news.
In the
Feb 8th NR it clearly states 75 million warrants and in
todays press release it stated 150 million warrants. So apparently an ammended press release is forthcoming to correct the mistake to 75 million warrants.
Well of course I would not expect most here to puck up on this as most here are penny flippers and fast buck con artists. Lol TMT heavy on the sell today, what a clown. One minute he's it's full balls put next minute he's dumping!
Montreal, February 8, 2018 / TheNewswire / St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) announced today that its previously announced letter of intent dated January 12, 2018 relating to an asset acquisition between SX's subsidiary, ZeU Crypto Networks Inc. and Qingdao Tiande Blockchain Information Technology Co. Ltd. has been amended. The general terms of the LOI, which referred to Qingdao Tiande Technologies Limited instead of Qingdao, were previously announced by press release dated January 14, 2018.
ZeU, Qingdao and Beijing Tiande Technologies Inc. ("Beijing" and collectively with Qingdao, "Tiande") entered into the amendment to the LOI (the "Amendment"), which has extended the date by which the parties will conclude the execution of a definitive agreement on or around February 19, 2018 or such later date as may be mutually agreed upon by the parties. The proposed acquisition is subject to a number of terms and conditions, including but not limited to, the completion of a concurrent financing not less than $10,000,000 and up to $30,000,000 that can be done in tranches and the receipt of all necessary regulatory, corporate and third party approvals.
The Amendment also revised the consideration structure, such that the proposed Acquisition will now be settled through the issuance of 75,000,000 common shares of ZeU (each a "Share") and 75,000,000 Share purchase warrants (each a "Warrant") on Closing and an additional 75,000,000 Shares after the issuance of the 20th patent derived from the intellectual property and patent application acquired from Tiande. Each Warrant will be exercisable at a price of CND$1.00 for a period of three (3) years following the date ZeU completes a transaction pursuant to which its Shares will either be listed on a recognized stock exchange in North America, or will be exchanged for common shares of a reporting issuer listed on a recognized stock exchange in North America.