TORONTO, May 08, 2025 (GLOBE NEWSWIRE) -- KMT-Hansa Corp. (the "Company") is pleased to announce that it has entered into a memorandum of understanding (the "MOU") with Astra Algorithm Limited ("Astra"), an arm's length party to the Company. Astra is a private company incorporated pursuant to the laws of the Hong Kong Special Administrative Region of China and focused on the development of blockchain related technologies.
Pursuant to the MOU, the Company and Astra will work together to a establish a subsidiary or joint venture (the "inBlock Sub") to further the products and services to be offered within the inBlock ecosystem. Pursuant to the Astra MoU, the Company will acquire up to 49% of the issued and outstanding securities in the capital of the inBlock Sub (the "inBlock Sub Shares"). The purchase price for the inBlock Sub Shares will be determined by the parties upon the completion of the Company's due diligence. The purchase price shall be satisfied through the (i) the payment of cash; (ii) the issuance of common shares in the capital of the Company (the "inBlock Sub Consideration Shares") and/or (iii) a combination of cash and issuance of inBlock Sub Consideration Shares. The inBlock Sub Consideration Shares will be issued at a price per share to be determined in the context of the market.
The acquisition of the inBlock Sub Shares (the "inBlock Transaction") is subject to requisite shareholder and regulatory approval, including the approval of the TSX Venture Exchange and standard closing conditions, including the completion of due diligence investigations to the satisfaction of each of the Company and Astra.
Prior to completion of the inBlock Transaction, the Company and Astra shall negotiate and enter into a definitive share exchange agreement on commercially reasonable terms and the parties shall have obtain the requisite shareholder approvals for the inBlock Transaction.
No definitive agreement has been entered into between the Company and Astra and there can be no assurance that a transaction will be completed. The Company does not intend to provide any updates or make any announcements unless or until it determines that further disclosure is appropriate or necessary.
About inBlock
inBlock, which was developed by a team comprised of former personnel from Huobi Global Limited ("Huobi"), is a cutting-edge cloud computing technology service provider specializing in Blockchain-as-a-Service (BaaS). Leveraging its deep expertise in blockchain technology, inBlock delivers platform-based solutions across various sectors, including metaverse, gaming, legal tech, and enterprise services, catering to both corporate and institutional clients.
At the core of inBlock's innovation is the strategic integration of AI and blockchain, designed to enhance the security, transparency, and efficiency of AI applications. By leveraging blockchain's immutable ledger, businesses can develop advanced AI models with greater data integrity and trustworthiness, ensuring compliance and reliability in an increasingly data-driven world.
inBlock is committed to empowering clients by maximizing the synergies between AI and blockchain. This integration unlocks benefits such as enhanced scalability, fortified security, optimized transaction efficiency, improved energy utilization, and next-generation data management solutions. By leveraging these innovations, businesses can future-proof their operations and remain at the forefront of technological advancement.
Beyond infrastructure and integration, inBlock has also pioneered platform-based mint-to-market services, enabling businesses to create exclusive digital experiences, secure ownership of digital assets, and expand into high-growth sectors such as the metaverse and gaming industry. Through its advanced AI and blockchain solutions, inBlock continues to drive the evolution of digital ecosystems, providing enterprises with scalable, secure, and future-ready technology solutions.
Astra will leverage its regional expertise and network in Asia to support KMT in identifying strategic opportunities and collaboration partners in the blockchain and AI sectors, particularly in Taiwan.
For further information please contact:
Donald Wu
Chief Executive Officer
Email: info@kmt-hansa.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements which are not composed of historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, availability and costs of financing needed in the future, changes in equity markets, delays in the development of projects, and ability to predict or counteract potential impact of COVID19 coronavirus on factors relevant to the Company's business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
