Business
American Premium Water Corp. (OTC:HIPH) Announces Agreement for Fashion Blockchain Exchange
American Premium Water Corp. (OTC:HIPH) Announces Agreement for Fashion Blockchain Exchange.
About this update from American Premium Water Corporation
[{"type":"text","content":"\nPLAYA VISTA, Calif., June 07, 2018 (GLOBE NEWSWIRE) -- American Premium Water Corporation (OTC:HIPH) (“APWC”) announces that it has acquired the license to operate FashionCoinX (www.fashioncoinx.com), an exchange utilizing blockchain technology that will provide fashion brands the ability to create their own security backed tokens which will provide special discounts, access to exclusive products, and other loyalty rewards to consumers. These tokens can be traded on the exchange, allowing for a real-time indication of a brand’s power.   \n “After months of work, I am excited to announce that the Company has completed the transaction to acquire the license and operating rights to FashionCoinX. This is a significant deal for the Company. This acquisition is in line with the strategy that I outlined earlier this year, focusing on strategic M&A that increases shareholder value and topline growth. A lot of companies have nefariously used acquisitions in the blockchain or crypto space to the detriment of their companies. We are not Long Island Tea. FashionCoinX gives the Company the ability to work and collaborate with many great fashion brands.” commented Ryan Fishoff, CEO American Premium Water Corporation. “FashionCoinX will be managed through the Gents subsidiary. I will personally be overseeing the rollout and business development of the exchange. I will be leveraging my experience and relationships in the fashion industry to have major brands join the exchange. Attracting top brands will be critical to the success of this venture and in line with the Company’s focus on “Brand.Luxury.Lifestyle”. We are in discussions with a number of top luxury brands to join the platform and will announce those in the coming weeks and months.” added Mr. Fishoff. This acquisition was facilitated in an all-stock transaction. FashionCoinX will generate multiple revenue streams for the Company: listing fees from the brands and ownership of a portion of each brands' tokens. In addition, the Company is working on other avenues to monetize the platform on a transactional basis. As part of the transaction the Company has the option to buy the exchange outright at a later date.    “As we further develop the platform, we will reach out to our retail partners -- Sak...