SPY328.73+5.23 1.62%
DIA271.70+3.60 1.34%
IXIC10,913.56+241.30 2.26%

Moxian, Inc Agrees Merger Terms With Btab Group, Inc

Beijing, China, Aug. 27, 2020 (GLOBE NEWSWIRE) -- Moxian, Inc. (“Moxian” or the “Company”) (MOXC), an offline-to-online (O2O) social media services and Internet media marketing services provider,


Beijing, China, Aug. 27, 2020 (GLOBE NEWSWIRE) -- Moxian, Inc. (“Moxian” or the “Company”) (MOXC), an offline-to-online (O2O) social media services and Internet media marketing services provider, is pleased to advise that following the Letter of Intent as of August 8, it has today signed a material definitive Share Exchange Agreement (the “Agreement”) with Btab Group Inc., a Delaware corporation (“Btab”). Pursuant to the Agreement, the Company will issue approximately 59 million new shares of common stock and 50 million of Class A preferred stock with restrictive voting rights, in exchange for the entire equity of Btab, in a business combination (the “Business Combination”) that will produce a merged entity with a valuation of over $400 million and not less than $40 million in annual revenue.

The Agreement is subject to various conditions, including satisfactory due diligence and an independent valuation of Btab, as well as the approval of shareholders of the Company and that of the regulatory authorities. Btab is also oblige to secure a financing commitment of up to $50 million on the closing of the Business Combination. Following the merger, the current shareholders of the Company will control approximately 20% of the enlarged equity. Btab will have the right to nominate three directors to the Board of the Company. 

Btab Group Inc., was founded in 2014 in Sydney and primarily operates through its subsidiaries in Australia and the ASEAN region, as well as locations in the US and UK, providing affordable online technology to small businesses to allow them to compete in an underserved market segment. Btab has been involved in many acquisitions for its growth and will continue to aggressively pursue its global acquisition strategy and expand its fulfilment centres. Btab currently has multiple arms that not only are in the e-commerce space alone but also owns property and utilizes multiple warehouses as fulfilment centres for expedited delivery of goods to customers. Btab gives small businesses a platform in which to grow their business and customer base whist maintaining costs to remain profitable. Btab also acquires struggling businesses so that customers and new stores wanting to have access to products will still be able to have access to those products. The Btab Network is quickly looking to expand further into Europe and the Americas where it will be able to network tens of thousands of small businesses to hundreds of millions of dollars’ worth of products in a time where many products are still “out of reach” for these small businesses. According to statistica, the German online research portal, e-commerce sales in Southeast Asia alone is projected to reach over $54 billion in 2020 and show an CAGR of over 12% over the next four years. This growth should still be significant well into the next decade, fueled by increasing numbers of internet users, greater familiarity with online shopping, and improved consumer spending power.

Their Motto is “Many Brands But One Heart” which explains the heart of the company and their desire to assist the growth of small business. Their website is: