SHENZHEN, Feb. 19, 2021 (GLOBE NEWSWIRE) — Taoping Inc. (NASDAQ: TAOP, the “Firm”), a supplier of internet-based sensible show screens, and a new-media ecosystem that allows focused promoting and on-line retail, introduced at present that the Firm has entered right into a consulting settlement (the “Consulting Settlement”) with Nice Bay Capital Funding Restricted (“Nice Bay”).
Pursuant to the Consulting Settlement, TAOP engaged Nice Bay as a advisor for a two-year time period efficient February 19, 2021. Nice Bay will present numerous consulting providers together with the next:
- Present the Firm with enterprise improvement providers centered on blockchain and digital property (equivalent to Bitcoin, Ethereum, and so on.) funding alternatives.
- Introduce TAOP to potential buyers for strategic funding.
- Introduce potential M&A targets in blockchain trade, and help TAOP in finishing related due diligence work and suggest M&A plans.
“TAOP began analysis on making use of blockchain know-how to Taoping New-media Ecosystem three years in the past. Previously three years, we stored upgrading Taoping sensible cloud platform and Taoping screens are actually obtainable in 211 cities throughout 26 provinces in China. Additionally, rising market demand for digital property equivalent to Bitcoin, maturity of superior options, and bettering regulatory readability current appreciable market alternatives. It’s time for TAOP to embrace the alternatives in blockchain trade and digital property, particularly Bitcoin,” mentioned Mr. Jianghuai Lin, Chairman and CEO of TAOP. “We consider Nice Bay may also help us obtain this objective.”
In consideration for the providers to be supplied by Nice Bay, the Firm agreed to concern to Nice Bay a warrant (the “Warrant”) inside 7 days after the execution of the Consulting Settlement for the acquisition of 1,000,000 peculiar shares of the Firm, exercisable at $3.50 per share (topic to adjustment) at any time previous to the 181st calendar day after the date of issuance. The Warrant can solely be exercised for money. The Warrant and its underly peculiar shares shall be issued to Nice Bay in reliance upon the exemption from registration supplied by Part 4(a)(2) of the Securities Act of 1933, as amended and/or Regulation S promulgated thereunder.
About Taoping Inc.
Taoping Inc. (TAOP), is a number one supplier of sensible show terminals and options for focused promoting and on-line retails. The Firm offers the built-in end-to-end digital promoting options enabling prospects to distribute and handle advertisements on cloud-based advert show screens. Connecting homeowners of Taoping screens, advertisers and shoppers, it builds up a useful resource sharing “Good IoT Display Community- Taoping App – Taoping Go (e-Retailer)” media ecosystem to in the end obtain the mission “our know-how makes promoting and branding reasonably priced and efficient for everybody.” To be taught extra, please go to http://www.taop.com/.
Protected Harbor Assertion
This press launch might include sure “forward-looking statements” referring to the enterprise of Taoping Inc., and its subsidiaries and different consolidated entities. All statements, apart from statements of historic truth included herein, are “forward-looking statements” in nature inside the that means of the Personal Securities Litigation Reform Act of 1995. These forward-looking statements, typically recognized by means of forward-looking terminologies equivalent to “believes”, “expects” or related expressions, contain identified and unknown dangers and uncertainties. Though the Firm believes that the expectations mirrored in these forward-looking statements are affordable, they do contain assumptions, dangers and uncertainties, and these expectations might show to be incorrect. Traders shouldn’t place undue reliance on these forward-looking statements, which converse solely as of the date of this press launch. The Firm’s precise outcomes may differ materially from these anticipated in these forward-looking statements on account of quite a lot of components, together with these mentioned within the Firm’s periodic reviews which can be filed with the Securities and Trade Fee and obtainable on its web site (http://www.sec.gov). All forward-looking statements attributable to the Firm and its subsidiaries and different consolidated entities or individuals appearing on their behalf are expressly certified of their entirety by these components. Aside from as required underneath the securities legal guidelines, the Firm doesn’t assume an obligation to replace these forward-looking statements.
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