Blockchain
SOS Ltd. Enters into Non-Binding Letter of Intent to Acquire a Cryptocurrency Technology Provider based in Canada
SOS Limited (NYSE: SOS) (the “Company” or “SOS”) announced today it has entered into a non-binding letter of intent to acquire FXK Tech Corporation(“FXK”), a Canadian-based company, specializing in the blockchain technology consulting and operations and support for cryptocurrency exchanges and cloud crypto algorithmic power exchanges, to further extend SOS ecosystem of blockchain and cryptocurrencies, as well as to expand its operations to North America.
FXK is a licensed crypto technology provider in Canada. Its current services and products include the design, construction, operations and support of exchange platforms of cryptocurrencies and cloud crypto algorithmic power, and blockchain-based solutions.
SOS is an emerging blockchain-based and big data-driven marketing and service provider, with a nationwide membership base of approximately 20 million in China. Recently, SOS has outlined its strategy in blockchain and cryptocurrencies, which include a series of initiatives to expand its business into cryptocurrency mining as well as cryptocurrency security and insurance. The core infrastructure of SOS rescue, insurance marketing and service supply chain is built on big data, blockchain-based technology, cloud computing, AI, satellite, and 5G network, etc.
Pursuant to the Letter of Intent, SOS is expected to acquire 100% of the outstanding shares of FXK for a combination of Class A ordinary shares and cash. The Company’s planned acquisition of FXK is aimed to further expand and upgrade its ecosystem of cryptocurrencies and digital assets as well as to expand its business to North America. As the transaction proceeds, the Company will publicly disclose required information either through press releases or SEC filings, as appropriate.
Dr Huazhong Yan, Vice President of SOS Information Technology Co. Ltd, the Company’s operating subsidiary, commented, “with its leading-edge technologies in cryptocurrency exchanges, and crypto algorithmic power exchanges, acquisition of FXK will further expand our ecosystem of cryptocurrencies and cloud crypto mining and security and insurance.”
SOS Chairman Yandai Wang also commented, “FXK is a leader in cryptocurrency and crypto algorithmic power exchange technologies. If the acquisition is completed, our operations will be expanded to North America as well as expedite the executions of our strategy in cryptocurrencies and cloud crypto mining and security and insurance.”
Completion of the transaction is subject to due diligence investigations by the relevant parties, the negotiation and execution of a definitive share exchange agreement, satisfaction of the conditions negotiated therein including the approval of the Company’s Board of Directors, approval by NYSE of the listing of shares issued in the transaction, and the satisfaction of other customary closing conditions. There can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated. Further, readers are cautioned that those portions of the LOI that describe the proposed transaction, including the consideration to be issued therein, are non-binding.
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Blockchain
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Blockchain
UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System
The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.
Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.
“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”
ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.
“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”
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