Santo Mining Corp (SANP)

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Santo Mining Corp (OTCMKTS:SANP) Finalizes To Merge With Canoe Bitcoin Mining Pool
By Brandon Manns / in Business / on Thursday, 19 Oct 2017 08:09 AM / 0 Comment
Santo Mining Corp (OTCMKTS:SANP) and Chongqing Yuhuan Technology Co., Ltd reported they have finalized a deal to merge and establish Canoe Pool America. Under the terms of the agreement, upon closure of the definitive merger deals, Santo Mining shall issue to Canoe Pool preferred stock of SANP amounting to 150 million shares, representing around 35% of company’s post-merger preferred equity, and 50 million additional equities of preferred stock upon accomplishment of certain Bitcoin Mining technology objectives, representing around 40% of SANP preferred stock.

The details
Canoe Pool shall have ne entitled to appoint up to 3 directors to the Santo Mining Board, and will help SANP Canoe Pool America in advancing the American Bitcoin Mining Pool market and to support the further advancement of the combined firm’s Bitcoin Mining Pool portfolio.

PODWERKS manufacturing know-how in modular container spaces together with a long history of performing business in China, establishes the stage for both firm new mission to further advance the U.S. crypto currency mining industry. The transaction is anticipated to be finalized in the upcoming 30 to 45 days, and is dependent on customary closing conditions.

Franjose Yglesias, the CEO of Santo Mining, expressed that this new group will comprise an excellent platform for advancement in the American cryptocurrency market as well as cryptocurrency mining pool, he is thrilled to bring this merger to their shareholders. Both firms complement each other in all the appropriate places; during the imminent few weeks we will be assessing several aspects of this deal, including new directorships to lead the firm into the future.

In addition, Li Ang Chairman of Canoe Pool expressed that focusing on the American industry has always been a part of their plans. Now that they have found the right associate they can more aggressively advance towards becoming the top mining pool with tech support and local representation in the American market. They are thrilled about the prospects for profits and growth over the imminent year.