Deal for 51% of iWWorld will further QEBR's consolidation of crypto assets
Las Vegas, NV / TheNewswire / June 13, 2018 - Virtual Medical International, Inc. (OTCMKTS: QEBR) announced that today it entered into a letter of intent to acquire 51% of the equity interests in iWW Exchange Ltd. ("iWWorld"), and its intellectual property-holding affiliate Anthology Holdings Ltd. ("Anthology"), both of which are headquartered in Bermuda and which own and operate a Bitcoin trading platform that facilitates trades in crypto-currencies, fiat-currencies and certain financial instruments.
The parties plan to structure the transaction as an exchange of equity shares, with QEBR owning a majority stake in both iWWorld and Anthology at closing, and the shareholders of iWWorld and Anthology each owning 500,000 shares of common stock of QEBR, amounting to the issuance of 1,000,000 total shares of common stock by QEBR. The terms of the letter of intent are not binding on the parties and are subject to the execution of definitive agreements, which is contemplated to occur in June or July 2018.
This announcement follows the May 24, 2018 announcement by QEBR of the acquisition of a strategic investment into a hydropower and Bitcoin mining business in western Sichuan, China.
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