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Seeking Alpha
2021-04-12 13:55:35

SOS announces non-binding LOI to acquire majority equity interest in U.S. based power plants

A subsidiary of SOS Limited (SOS) has entered into a non-binding letter of intent ("LOI") to acquire the majority of the equity interests of each of three U. S. based power plants for its planned crypto-mining operations in North America.As per the terms, the company intends to acquire more than 51% of the membership interests of Sherman Development, Niagara Development, and Park Falls Management.Other terms were not disclosed.SOS Chairman Yandai Wang: "We have been looking for investment opportunities in the U.S. The acquisition of this power plant is the first step for SOS to officially enter the American market. We will continue to increase the investment and construction of cryptocurrency computing center in the U.S., and devote ourselves to bring better performance to the company."([[SOS]] +8.4%)

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