HLTH ...next one to explode ... I expect a positive announcement this week that will propel HLTH quickly to the .45 .50 in my opinion. Big traders have loaded the truck in the last few days. Good time ahead !
https://www.stockwatch.com/Quote/Detail.aspx?C:HLTH
Global Care signs LOI to acquire ASIC Power Company
2020-12-30 06:37 ET - News Release
Mr. Alex Somjen reports
GLOBAL CARE CAPITAL ANNOUNCES LOI FOR ACQUISITION OF ASIC POWER COMPANY
Global Care Capital Inc. has entered into a letter of intent dated Dec. 29, 2020, which sets out the basic terms and conditions for the acquisition by the company of all of the issued and outstanding securities in the capital of ASIC Power Company, the first cryptocurrency company combining state-of-the-art ASIC (application-specific integrated circuit) chips with royalty streaming contracts, in exchange for securities of Global Care.
The company and ASIC have entered into the LOI, which sets out certain terms and conditions pursuant to which the proposed transaction will be completed. The terms outlined in the LOI are subject to the parties successfully entering into a definitive agreement in respect of the transaction on or before Jan. 31, 2021, or such other date as the company and ASIC may mutually agree. The material terms of the transaction are as follows:
- In consideration for the transaction, Global Care will issue an aggregate of 100 million common shares of Global Care to ASIC shareholders at a deemed price of 9.5 cents per consideration share.
- There is no hold period for the consideration shares pursuant to applicable securities laws.
The transaction is an arm's-length transaction and no change in management or the board of directors of Global Care is being contemplated at this time. The LOI also contemplates other material conditions precedent to the closing of the transaction, including the completion of due diligence, compliance with all applicable regulatory requirements, and receipt of all necessary regulatory, corporate, third party, board and shareholder approvals being obtained, including the approval of the Canadian Securities Exchange. There can be no assurance that the transaction will be completed as proposed, or at all.
The goal of the acquisition is to give Global Care Capital shareholders exposure to the cryptocurrency mining infrastructure and financing market.
"Traditionally, cryptocurrency mining expansion has been financed by dilutive equity or large debt deals that are secured by the underlying assets. Little innovation has been made to accommodate the unique properties of this emerging ecosystem. With our acquisition of ASIC, we believe we can help supercharge some of the much-needed computing power in a capital efficient manner to power the next wave of bitcoin and other cryptocurrencies," said Alex Somjen, chief executive officer of Global Care.
ASIC gives mining companies access to its innovative cryptocurrency mining streaming contracts and chip pipeline through its partnerships with leading hardware producers. It intends to identify low-cost, renewably powered mining operations to implement new financing strategies in the form of royalties and stream contracts globally.
"I am excited to be involved in this project," said Wouter Witvoet, investor in ASIC and founder and chief executive officer at Secfi. "Cryptocurrency mining has gone through rapid evolution with scalability, infrastructure and operational management of projects becoming more critical. It is now the right time to evolve the way we finance mining expansion projects. With ever-increasing mining difficulty, a player is needed who can provide both top-notch mining hardware as well as the right financing solutions."
"ASIC Power Company is looking forward to partnering with Global Care Capital to develop a leading horizontally integrated crypto hardware and financing company. It is exciting to partner with an investment issuer in the Canadian capital markets, which was the creator of royalty and streaming contracts for traditional commodity assets, we are excited to bring this to digital asset stores of value," said Daniel Novak, co-founder and chief executive officer of ASIC Power Company.