SportsQuest Inc (SPQS)

[Toodles]

More news today: SportsQuest, Inc. (OTC:SPQS) Strategic Expansion China Cinema Chain
Press Release | 03/21/2024
Incoming AI China Co Formalizing Special Purpose Vehicle (SPV ) in concert with SPQS To Comply With China SAFE Laws

WEST PALM BEACH, FL / ACCESSWIRE / March 21, 2024 / The Company SPORTS QUEST (SPQS) www.sports-quest.co (Company) is providing the following update on the targeted China based AI cinema chain https://huayicinemas.net/ (AIC). The transaction is being formalized on all cash & preferred shares bases only with no additional SPQS common shares being issued in the transaction. A detailed OTC Markets Adequate Disclosure and or SEC 8k will follow for the Company followers.

In the rapidly evolving world of technology, SportsQuest is more than thrilled to formally announce its anticipation for a Belize Special Purpose Vehicle's (SPV) formation. This SPV formation is required to comply with operating Mainland China based corporate entities. The SPV serves multiple purposes A special purpose vehicle (SPV) is a legal entity created to fulfill a specific, (merger) and non-dilution objective. An SPV is typically used to isolate an individual or corporate investor from risk. It can be owned by one or more individuals or companies. On 20 May 2011, SAFE issued a new set of operating procedures for handling SPV-related foreign exchange registration matters, aimed at fortifying potential growth pathways.

The structural advancement foreshadows capitalization on promising opportunities such as SPQS while enhancing Huay Cinemas China-based AI cinema market strongholds. At Huay we are committed to spearheading innovation and delivering market-demand-driven products and services. SPQR interim management acknowledges the vast potential within Artificial Intelligence's burgeoning landscape. Accordingly, SPQS excitedly presents its impending merger with a premier AI cinema theater company such as Huay Cinema. Both SPQS and Huay Cinema share the opinion that this consequential collaboration, is set to reinvent the cinema experience using progressive AI technologies for English language films globally.

This momentous consolidation grants SPQS not only an invaluable position in the AI movie cinema sector but also facilitates substantial revenue access. The prospective partner's impressive financial achievement promises robust global marketplace performance positioning us to offer unparalleled experiences thereby augmenting shareholder value.

"We eagerly look forward to this novel venture marking a pivotal milestone in our journey." Affirmed Huay Cinemas CEO Mr. Mr. Cao Yiyuan. "This merger synchronizes strategically aligns with our objectives as well as exemplifies our dedication towards leveraging advanced technologies to cater proficiently and innovatively fulfill evolving customer needs."

Huay Cinemas (SPQS targeted merger candidate) is a respected industry leader specializing in innovative solutions that revolutionize how individuals utilize technology facilitating remarkable customer engagement processes-fostering numerous unprecedented technological progression sectors from sensational cinematic experiences incorporating artificial intelligence.

While awaiting SPV adoption finalizing strategic integration particulars, the management of Huay Cinemas affirm resolute adherence ensuring smooth transitions pertaining to all involved parties. Capitalizing on entrenched expertise and corresponding resource positions we are advantageously maximized by this critical opportunity; while escalating market prominence and solidity proving ourselves the AI industrial trendsetters."

More details will follow shortly.


https://www.otcmarkets.com/stock/SPQS/news/SportsQuest-Inc-OTCSPQS-Strategic-Expansion-China-Cinema-Chain?id=433908