Elray Resources Announces Strategic Sale of Crypto iGaming Technology
ELRAY RESOURCES INC (ELRA)
NASDAQ:AMEX Investor Relations:
investorshub.advfn.com/elray-resources-inc-elra-13379
Company Research
Source: GlobeNewswire
LAS VEGAS, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Elray Resources Inc. (OTCPK:ELRA) is pleased to announce a significant milestone in the company’s growth strategy. Elray has completed the sale of proprietary technology to 180 Life Sciences Corp. (NASDAQ:ATNF), a NASDAQ-listed company in exchange for preferred stock convertible into a 40% stake in ATNF and warrants to purchase 3 million shares of ATNF common stock, the conversion/exercise of which is subject to stockholder approval. The technology stack contained within Elray’s technology package will assist ATNF in launching an iGaming Blockchain casino. “This strategic sale and potential future partnership are expected to enhance Elray’s financial position, support future innovation and open new opportunities and revenue streams for the company,” said Vincent Cai, CTO of Elray Resources. “This will not only strengthen our balance sheet considerably, but also will enable ATNF and Elray to collaborate with leading players in the
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