HIPH - American Premium Water agrees to acquire CloudXchange DataCentre

American Premium Water (OTCPK:HIPH)  has acquired 100% ownership of CloudXchange DataCentre, an entity that engages in crypto-mining related business through its wholly owned subsidiary CloudXchange DataCentre Pte Ltd for total transaction value of $45.6M. To fund the deal, the company will issue restricted common shares of equivalent value to Mr. Chan Heng Fai, Ambrose (the “Seller”), the sole shareholder of CloudX.   Per the terms, the seller has provided HIPH with a guarantee to generate a minimum of $1.5M in EBITDA for CloudX SG within the first 12 months from June 2022 or upon the full delivery of the mining rigs. In the event that the EBITDA of CloudX SG falls short of $1.5M, a guaranteed top-up for any shortfall amount up to $1.5M will be borne by the Seller. The company to change focus to crypto-mining related businesses, and intends to change its name to "American Premium Mining Corporation" to reflect

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American Premium Water agrees to acquire CloudXchange DataCentre