APW to Change Name after Acquiring Crypto Miner CloudXchange

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The
American Premium Water Corporation (APW), a diversified consumer products
company, has announced its intention to acquire CloudXchange DataCentre Pte Ltd
(CloudX SG), an entity that engages in crypto-mining-related business.


Take Advantage of the Biggest Financial Event in London.

APW
in a statement issued on Monday that was obtained by Finance Magnates said its Board of
Directors had approved its 100% acquisition of the company which is a wholly-owned subsidiary of CloudXchange DataCentre Inc. (CloudX).

The
purchase price of the transaction will be at a consideration of US$45.6 million
which reflects a projected price-to-earnings ratio of 30, the products company
said.

Additionally, APW disclosed that it will issue restricted common shares of equivalent value
to Heng Fai Ambrose Chan, the seller and sole shareholder of CloudX. Chain is an
experienced entrepreneur and business owner.

Change
of Name

With
the acquisition, APW, known for building brands that utilize cutting edge
bioscience and nanotechnology in the Cannabidiol and wellness space, will now
be focusing on the crypto-mining sector.

In addition, the
company intends to change its name to ‘American Premium Mining Corporation’.

The
American Premium Water Corporation (APW), a diversified consumer products
company, has announced its intention to acquire CloudXchange DataCentre Pte Ltd
(CloudX SG), an entity that engages in crypto-mining-related business.

APW
in a statement issued on Monday that was obtained by Finance Magnates said its Board of
Directors had approved its 100% acquisition of the company which is a wholly-owned subsidiary of CloudXchange DataCentre Inc. (CloudX).


Take Advantage of the Biggest Financial Event in London.

The
purchase price of the transaction will be at a consideration of US$45.6 million
which reflects a projected price-to-earnings ratio of 30, the products company
said.

Additionally, APW disclosed that it will issue restricted common shares of equivalent value
to Heng Fai Ambrose Chan, the seller and sole shareholder of CloudX. Chain is an
experienced entrepreneur and business owner.

Change
of Name

With
the acquisition, APW, known for building brands that utilize cutting edge
bioscience and nanotechnology in the Cannabidiol and wellness space, will now
be focusing on the crypto-mining sector.

In addition, the
company intends to change its name to ‘American Premium Mining Corporation’.

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