American Premium Water Corp. to Acquire CloudXchange DataCentre Inc. to Focus on Crypto-Mining Related Businesses With Earnings Guarantee of US$1.5 Million for the First 12 Months
American Premium Water Corporation (OTC:HIPH) announced a strategic shift to focus on crypto-mining by acquiring CloudXchange DataCentre Inc. for US$45.6 million. This acquisition aims to diversify APW's revenue streams and establish a stable income source. CloudX is expected to generate a minimum of US$1.5 million in EBITDA within the first 12 months. As a result, APW plans to rename itself to American Premium Mining Corporation to reflect this new direction in business. The acquisition underscores the company's commitment to long-term growth and shareholder value.
- Acquisition of CloudXchange DataCentre Inc. for US$45.6 million enhances earnings diversification.
- Guaranteed minimum EBITDA of US$1.5 million from CloudX SG within the first year.
- New focus on the lucrative crypto-mining sector positions APW for long-term growth.
- Acquisition may impose financial strain due to US$45.6 million purchase price.
- Potential integration challenges with transitioning to the crypto-mining business.
American Premium Water Corp. to Change Focus to Crypto-mining Related Businesses, Will Change Name of Company to Reflect New Focus
PLAYA VISTA, CA, April 24, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – American Premium Water Corporation (OTC:HIPH) ("APW" or the "Company”) is pleased to announce that its Board of Directors has approved the acquisition of
CloudX is engaged primarily in investment within the cryptocurrency space with a focus on crypto-mining and staking activities. Crypto-mining refers to the process that verifies and adds new transactions to the blockchain by solving complex mathematical equations for a cryptocurrency. The crypto miner that solves the complex mathematical equations first is rewarded with the respective cryptocurrency. Staking cryptocurrencies is a process that involves using crypto assets to support a blockchain network and verify transactions.
For risk management purposes, CloudX’s crypto-mining data centers will be strategically set up in locations such as Singapore, Malaysia (Sarawak) and Texas, United States with various service providers.
Ryan Fishoff, CEO of APW, commented, “The Company is very excited to enter into the crypto-mining space. This acquisition is designed to provide APW with a stable and growing revenue stream, and position the Company for long-term growth and profitability. The acquisition of CloudX will be transformative for the Company as APW embarks on a new business strategy that is designed to enhance shareholder’s value.”
As part of the terms of the acquisition agreement, the Seller has provided APW with a guarantee to generate a minimum of US
With the acquisition of CloudX, the Company will be focusing on the crypto-mining sector, and intends to change its name to “American Premium Mining Corporation.” The Company has previously been focused on building brands that utilize cutting edge bioscience and nanotechnology in the CBD and wellness space.
About CloudXchange DataCentre Inc.
CloudXchange DataCentre Inc. is a holding company for CloudXchange DataCentre Pte Ltd which is engaged primarily in investment within the cryptocurrency industry with a focus on crypto-mining and staking activities. CloudX endeavors to leverage the potential of the cryptocurrency space to generate predictable revenues and operating income.
About American Premium Water Corporation
APW is a diversified consumer products company focused on brands that utilize cutting edge bioscience technology. The Company is focused on harnessing the power of Nano technology that utilizes CBD and other compounds to help increase the quality of life for its consumers.
Forward-Looking Statements
This press release includes statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control, and which may cause results to differ materially from expectations. For a discussion of the most significant risks and uncertainties associated with the Company's business, please review our filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Contact Information
American Premium Water Corporation
12777 Jefferson Boulevard
Building D
Playa Vista, CA 90066
Email: info@americanpremiumwater.com
FAQ
What is the purpose of American Premium Water Corp's acquisition of CloudXchange?
What is the projected EBITDA from CloudXchange in the first year?
How much will American Premium Water Corp pay for CloudXchange?
What will American Premium Water Corp's new name be after the acquisition?
In which locations will CloudX's crypto-mining operations be set up?
