Business
China Xiangtai Food Co., Ltd. Announces Results of Special Meeting of Shareholder
Approved the resolutions of changing the Company's name to Bit Origin Limited, appointing new Chairman and CEO, and divesting old business VANCOUVER, BC,
About this update from Bit Origin Limited
[{"type":"text","content":"Approved the resolutions of changing the Company's name to Bit Origin Limited, appointing new Chairman and CEO, and divesting old business \n VANCOUVER, BC, April 27, 2022 /PRNewswire/ -- China Xiangtai Food Co., Ltd. (NASDAQ: BTOG) (\"China Xiangtai \" or the \"Company\"), an emerging growth company engaged in crypto mining business with diversified expansion strategy, today announced the results of shareholder votes from its Special Meeting of Shareholders (the \"Meeting\") held on Tuesday, April 26, 2022 at 10:00 p.m. ET. \nAt the Meeting, the requisite vote of shareholders has approved the following resolutions:\n(i) Changed the Company's name to Bit Origin Limited (the \"Name Change\").\nThe Company's name will be changed to Bit Origin Limited, effective on April 27, 2022. The Company expects to complete the necessary regulatory steps for the name change in mid-May. The goal of the name change is to better reflect the Company's core business and diversification prospects.\nNo further action is required from the Company's shareholders relative to the Name Change. The Company's ordinary shares will continue to be listed on Nasdaq and the CUSIP will be changed.\n(ii) Appointed Mr. Lucas Wang as a director, Chairman of the Board and the Chief Executive Officer to replace Ms. Zeshu Dai (the \"Change of Director and Officer\").\nMr. Lucas Wang was appointed as a director, Chairman of the Board, and the Chief Executive Officer to replace Ms. Zeshu Dai, effective immediately.\nMr. Wang is a pioneer in the field of Internet technology entrepreneurship. He has over eight years of entrepreneurial and investment experience in the broader blockchain industry ranging from crypto mining ecosystem to De-Fi, NFTs and the latest Web 3.0 technology.\nOver the past eight years, he has led his team to achieve an industry-leading position in the cryptocurrency mining sector. He has designed, invested, and managed more than 10 blockchain supercomputing centers with a capacity of more than 1000MW across many continents, including the United States, Canada in North America, China and Kazakhstan in Asia, and Ethiopia in Africa.\nMr. Wang is also a senior player and investor in the field of IPFS. He began to deploy and invest in IPFS mining before online of the testing site in 2020, with more than 300p in hash power. Mr. Wang also served as Executive...