Value Exchange International Inc. (VEII)

[Billybob_TX]

$VEII NEWS: https://www.businesswire.com/news/home/20210415005608/en/

Alset EHome International Subsidiary GigWorld Inc. Purchases 18% Equity Interest in Value Exchange International, Inc. (VEII)

April 15, 2021 08:51 AM Eastern Daylight Time
HONG KONG--(BUSINESS WIRE)--Value Exchange International, Inc. (OTCQB: VEII)(“Value Exchange”), a provider of Mobile Payment Gateway (QR code purchase at POS) customer-centric solutions for the retail industry in Asia, announced today the private sale to GigWorld, Inc., a subsidiary of Alset EHome International Inc. (NASDAQ:AEI)(“Alset”), of an 18% common stock interest in Value Exchange. The purchase was made for investment purposes and as an initial step in possible strategic business cooperation between Value Exchange and Alset.

“We look forward to exploring possible future synergies with Alset and other companies led by Mr. Chan in our efforts to expand Value Exchange’s market reach in Asia”

"This synergistic investment fits nicely into Value Exchange’s business development plans by providing fresh capital and potential strategic growth opportunities in new markets through ties with Alset. More importantly, Value Exchange can tap into the extensive management and capital markets expertise of Chan Heng Fai, Alset’s Chairman and Chief Executive Officer, as part of this new relationship, " said Kenneth Tan, Chief Executive Officer of Value Exchange. “We look forward to exploring possible future synergies with Alset and other companies led by Mr. Chan in our efforts to expand Value Exchange’s market reach in Asia,” added Mr. Tan.

"Value Exchange possesses strong IT capabilities, servicing large multinational companies on a global scale. This synergistic investment will prove to be beneficial for the group as we expand and strengthen our global payment system platform," stated Mr. Chan.

The $650,000 investment under the private placement of Value Exchange common stock will be used for general working capital.

About Value Exchange
Value Exchange is a U.S. public holding company headquartered in Hong Kong, with offices in Shenzhen, Guangzhou, Shanghai, and Beijing China, Manila in the Philippines and Kuala Lumpur, Malaysia. Through its subsidiaries, Value Exchange provides. By integrating market-leading Point-of-Sale/Point-of-Interaction (POS/POI), Merchandising, CRM & Reward, Locational Based (GPS & Indoor Positioning System (IPS)) Marketing, Customer Analytics, and Business Intelligence solutions. Value Exchange's retail POS solutions process tens of millions of transactions per year at approximately 20,000 retail outlets in Asia. Value Exchange, through its operating subsidiaries, provides POS systems installation, maintenance, software, and systems support and solutions. Corporate customers of Value Exchange include a diversified group of corporations in Value Exchange’s markets.

About Alset EHome International Inc.
Alset EHome International Inc. is a diversified holding company principally engaged through its subsidiaries in EHome development and digital transformation technology with operations in the United States, Singapore, Hong Kong, Australia and South Korea. The Company's vision is to accelerate sustainable healthy living. The Company's mission is to provide a healthy living ecosystem, encompassing housing, transport, energy alternative healthy food and impact health products. For more information about Alset’s business, please visit: www.alsetehomeintl.com.

About GigWorld, Inc.
GigWorld, Inc. is focused on developing information technologies for the “gig” economy. The Besthda, Maryland based company is a reporting company under the Securities Exchange Act of 1934 and is 99% owned by Alset.