BEIJING, Sept. 14, 2020 /PRNewswire/ -- Bit Digital,
Inc. (Nasdaq:BTBT) (the "Company"), an emerging bitcoin mining
company headquartered in New York,
U.S. today announced that the Company's name officially
changed from Golden Bull Limited to "Bit Digital, Inc." effective
on September 14, 2020. In the
previous days, the Company elected two new independent directors in
the AGM and disposed of the old peer-to-peer lending business.
On September 10, 2020, the
Cayman Islands recorded the
Certificate of Incorporation on Change of Name, officially changing
the Company's name to "Bit Digital, Inc." which the company's
management believes will provide a
focused corporate image that more closely reflects the operating
bitcoin mining business.
On September 4, 2020, the Company
held its Annual Meeting of Shareholders (AGM) and elected two new
independent directors, Ms. Ichi Shih
and Mr. Chaohui Deng. Ms.
Ichi Shih has over 15 years of
experience building and advising corporations through internal
financial management, M&A transactions, and capital market
transaction across several global regions with a Master's degree in
International Finance and Business from Columbia University and the U.S. CPA Certificate.
Mr. Chaohui Deng has over 20 years
working experience of management and investment in several listed
companies and holds a bachelor's degree in Accounting from Hengyang
Industrial College, China. The
Company believes that the election of two experienced and
specialized directors will strengthen the Company's internal
governance, improve internal control, and enhance the Company's
overall image in the global capital markets.
On September 8 2020, the Company
entered into a certain share purchase agreement (the "Disposition
SPA") by and among a BVI company Sharp Whale Limited (the
"Purchaser"), Point Cattle Holding Limited (the "Subsidiary") and
Golden Bull Limited (now Bit Digital, Inc., the "Seller"). Pursuant
to the Disposition SPA, the Purchaser agreed to purchase the
Subsidiary in exchange for nominal consideration of $10.00 and other good and valuable consideration
(the "Purchase Price"). The Board of Directors approved the
transaction contemplated by the Disposition SPA (the
"Disposition"). The closing of the Disposition occurred on
September 8, 2020, and represented
the Company complete disposition of the peer-to-peer lending
business and focus onto the bitcoin mining business and its auto
leasing business in the U.S. once the Coronavirus pandemic is
curtailed.
The series of recent reforms to the Company is expected to help
us integrate global resources and bitcoin mining resources to
supply bitcoin network and gain bitcoin. Mr. Erke Huang, Chief
Financial Officer of the Company, stated, "We started our bitcoin
mining business and are very pleased to make increasing revenues
from it since early 2020. We believe that the bitcoin mining
business will continue to bolster the Company's income and increase
shareholder value."
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of Bit Digital, Inc., and its
subsidiary companies. All statements, other than statements of
historical fact included herein are "forward-looking statements."
These forward-looking statements are often identified by the use of
forward-looking terminology such as "believes," "expects" or
similar expressions, involve known and unknown risks and
uncertainties. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. Investors should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The Company's actual
results could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the Company's periodic reports that
are filed with the Securities and Exchange Commission and available
on its website at http://www.sec.gov. All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these factors.
Other than as required under the securities laws, the Company does
not assume a duty to update these forward-looking statements.
View original
content:http://www.prnewswire.com/news-releases/bit-digital-inc-officially-changed-companys-name-on-september-14-2020-appointed-two-directors-and-spun-off-the-old-business-on-september-8-2020-301130617.html
SOURCE Bit Digital, Inc.