Wecast to Purchase 51% of NextGen Exchange Group
WECAST NETWORK INC (WCST)
US:NASDAQ Investor Relations:
corporate.wecastnetworkinc.com
Company Research
Source: PR Newswire
NEW YORK, June 12, 2017 /PRNewswire/ -- Wecast Network, Inc. (NASDAQ: WCST) ("Wecast" or "WCST"), announced today that it has acquired 51% of NextGen Exchange Group ("NextGen"), the first Blockchain- and Big Data-enabled index exchange, which will reside and operate under Wecast Network's Wecast Services Group ("WSG") and become an essential component of Wecast's Transactional Finance Product Cloud business. WCST will pay no monetary or stock consideration for the acquisition.WCST will purchase 51% of the outstanding capital shares in NextGen Exchange Group from the seller, Redrock Capital Group Limited, a Bruno Wu controlled and owned company (the "Seller"). In addition, Seller has entered into a separate agreement with the Delaware Board Of Trade Holdings, Inc. ("DBOT") (http://dbottrading.com/), under which Seller will transfer 5% of the total issued and outstanding stock of NextGen to DBOT.The Delaware Board of Trade or DBOT, is an approved and licensed FINRA / SEC regulated ele
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