HPIL Holding (HPIL), Announces that it has entered into a letter of intent to sell all assets of NFT Procurement to Stargaze Entertainment Group (STGZ)

Rhea-AI Summary

HPIL Holding (OTC: HPIL) has entered a letter of intent to sell its NFT Procurement division, which includes over 130 NFT Domains, to Stargaze Entertainment Group Inc. The transaction will involve a share swap, subject to approvals, and aims to distribute shares of STGZ to HPIL shareholders. The deal is expected to close within 10-15 days, by October 15, 2021. CEO Stephen Brown expressed optimism about the partnership, highlighting its potential benefits for both companies.

Positive

• Transaction to enhance HPIL's strategic position in the NFT market.
• Potential share distribution of STGZ to HPIL shareholders may increase shareholder value.

Negative

• Dependence on regulatory approvals could delay completion of the transaction.

VANCOUVER, BC, Sept. 28, 2021 /PRNewswire/ -- HPIL Holding (the "Company") (OTC: HPIL) announces that it has entered into a letter of intent to sell all assets of NFT Procurement a wholly owned division of HPIL Holding to Stargaze Entertainment Group Inc. The assets are over 130 NFT Domains .com. The transaction will be based on a share swap between both companies, once officially approved. The plan will be to disperse a share distribution of STGZ to HPIL shareholders. The closing is expected to be completed within the next 10-15 days but no later than October 15^th, 2021.

"I am truly excited to make this deal and it should be good for both companies and put the NFT asset in a place where they can flourish immediately with the Stargaze team," said Stephen Brown CEO

Safe Harbor: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filing.

For more information:   
Stargaze Entertainment Group Inc
1720 650 West Georgia St
Vancouver, BC V6B 4N8
Contact: Stephen Brown, CE0
info@hpilholding.ca
+1 778-819-1956

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SOURCE HPIL Holding

FAQ

What is the recent announcement by HPIL Holding regarding STGZ?

HPIL Holding announced the sale of its NFT Procurement division to Stargaze Entertainment Group, involving over 130 NFT Domains, with plans for a share distribution to HPIL shareholders.

What assets are being sold by HPIL to Stargaze Entertainment Group?

HPIL is selling all assets of its NFT Procurement division, which includes over 130 NFT Domains.

When is the expected closing date for the transaction between HPIL and STGZ?

The transaction is expected to close within 10-15 days, no later than October 15, 2021.

How will the transaction affect HPIL shareholders?

HPIL shareholders may receive a distribution of shares from Stargaze Entertainment Group (STGZ) as part of the transaction.

What is the significance of the share swap between HPIL and STGZ?

The share swap signifies a strategic partnership that could enhance both companies’ positions in the NFT market.