PROEN intends to invest in KUB 72.95 million “bits” to guarantee the buyback price is not lower than the capital

Mr. Kittiphan Sribua-iam, Chief Executive Officer of ProEn Corp Public Company Limited or PROEN revealed that the company has approved investments in crypto-currency assets which is a condition of joining as a partner of the company Bitkub Blockchain Technology Company Limited (“Bitkub”)

For the purpose of being a PoSA (Proofof Stake Authority) Validator Node in the transaction verification system.Blockchain (Block chain) ของ Bitkub (Bitkub Blockchain Technology Co., Ltd.)

By being a staking accountant, there are conditions in the transaction whereby the company has to buy coins. KUB from Bitkub in the amount of $250,000 (approximately total value of not more than 72,949,815 baht) and does not allow the company to trade and/or exchange such coins.

within the period prior to May 31, 2023. As of May 31, 2022, the Company is in the process of amendment of material aspects of the Agreement.

The essence of the amended agreement is that Bitkub Confirm the guarantee of the minimum buyback price upon maturity by May 31, 2023, which is not lower than the price invested by the Company.

By referring to the exchange price on the digital asset exchange Bitkub as of the date of the company’s investment. But if the underlying trading price of the Bitkub digital asset is higher than the guaranteed minimum price, the company can profitably trade at the exchange price at that day.

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