Coolpad Group plans to purchase a majority stake of 10.1399 million in Manitoba Ltd

Coolpad Group announced that its wholly-owned subsidiary, Coolpad Investment Limited, has entered into a memorandum of understanding with Newdecade Energy Ltd to purchase a majority stake of 10.1399 million Manitoba Ltd shares, expected to account for 60% to 90% of its total issued shares. The proposed total consideration for the acquisition is not to exceed 3.3 million US dollars. The buyer intends to pay the consideration in cash to the seller upon completion of the purchase and sale of the target shares and other transactions contemplated by the final agreement. The target company is mainly engaged in cryptocurrency mining and custody, providing stable power supply for cryptocurrency mining machines, and offering data center services and management custody solutions.