DLTx ASA Announces Exit From Filecoin And Blockchain Segment Through Sale Of Assets

April 09, 2023 06:33 AM AEST | By Reuters
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April 8 (Reuters) - Dltx ASA:

* EXIT FROM FILECOIN AND BLOCKCHAIN SEGMENT THROUGH SALE OF ASSETS

* SALE IS A STRATEGIC MOVE IN RESPONSE TO BLOCKCHAIN MARKET DOWNTURN

* SIGNED AN AGREEMENT TO SELL ALL FOREIGN OPERATING SUBSIDIARIES, INCLUDING INTEREST IN FILECOIN CLOUD STORAGE PARTNERSHIPS STORIFY AND HELIX

* BUYER WILL ASSUME LIABILITY FOR APPROX. USD 25 MILLION OF OUTSTANDING DEBT WITH ENTITIES SOLD IN TRANSACTION

* WILL MOVE FORWARD WITH A STREAMLINED ORGANIZATIONAL STRUCTURE

* DLTX - TRANSACTION WILL SIGNIFICANTLY REDUCE CO'S OVERALL DEBT BURDEN

* WILL CHANGE ITS NAME AND WILL CALL FOR AN EXTRAORDINARY GENERAL MEETING ("EGM") IN NEAR FUTURE Source text for Eikon: Further company coverage:


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