Blue Hat Announced Execution of $66.49 Million Gold Acquisition
Blue Hat Interactive Entertainment Technology - Ordinary Shares (BHAT)
Company Research
Source: GlobeNewswire
HONG KONG, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Blue Hat Interactive Entertainment Technology ("BHAT" or the "Company") (NASDAQ: BHAT) announced the execution of a 1,000-kilogram (approximately 2,204.62 pounds) gold delivery, officially marking the launch of its gold supply chain business. This delivery follows the framework agreement signed in October 2023 with Macau Rongxin Precious Metals Technology Co., Ltd. ("Macau Rongxin"), a company registered in Macau with registration number: 86918(SO) registered with the Macau Commercial Register. The spot price for gold at the time of the October 2023 framework agreement was approximately $61.14 per gram, while the spot price for gold as of August 28, 2024 is approximately $80.61 per gram. The purchase price of the gold delivered to BHAT is approximately $66.49 per gram, for a total purchase price of approximately $66.49 million. This acquisition is a strategic move to develop a gold supply chain business. BHAT plans to leverage this
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Sec Filings
- 9/11/24 - Form 6-K
- 9/11/24 - Form 6-K
- BHAT's page on the SEC website