Moxian, Inc. ("Moxian" or the "Company") (MOXC), an offline-to-online (O2O) social media services and Internet media marketing services provider, today announces that Btab Group Inc., ("Btab") which Moxian intends to acquire pursuant to the terms of the Share Exchange Agreement signed on August 27, 2020, has entered into detailed negotiations with finalized documentation (expected to be signed in a matter of days) for the acquisition of a food processing company in India (the "Target").
The Target has approximately USD$15 million in annual revenues with a client base that is growing rapidly throughout India and Asia. This acquisition is the first of many that Btab intends to complete. This, and future planned acquisitions, will not only strengthen the global supply chain of the Btab group but add greater value to the proposed merger with Moxian.
Commenting on the new upcoming acquisition, Mr. William Yap, Chairman of the Company, said "We are pleased to see Btab Group's aggressive growth and its efforts to the continuation of adding value to all of us."