Business
Greenpro Closes Millennium Sapphire Acquisition, Plans Spinoff
HONG KONG / ACCESSWIRE / June 2, 2020 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced that it has closed on its acquisition of 4% of the Millennium
About this update from Greenpro Capital Corp.
[{"type":"text","content":"HONG KONG / ACCESSWIRE / June 2, 2020 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced that it has closed on its acquisition of 4% of the Millennium Sapphire for US$4 million. The acquisition was paid via the issuance of 4.44 million GRNQ restricted shares valued at $0.90 per share.GRNQ's wholly-owned Wyoming subsidiary, Millennium Fine Arts, Inc. (\"MFAI\"), has today completed its acquisition of the remaining 96% interest of the Millennium Sapphire for $96 million via the issuance of 19.2 million shares of MFAI valued at $5 per share.CEO CK Lee said, \"we are very pleased to have the Millennium Sapphire as the first of hopefully many significant world-class art acquisitions. We plan to continue acquiring fine art masterpieces by world-renowned painters and develop the business both online, including live auctions and exhibitions, and in museums, once they are open to the public\".About the Millennium SapphireThe Millennium Sapphire is widely considered an icon in the world of art and gems. It is one of the most documented gemstones of modern times. Since its discovery in Madagascar in 1995, this remarkable blue gem has appeared on CNN, BBC, NBC, FOX, and numerous other television networks around the world. It has been written about in virtually every major newspaper and has been the subject of articles published in dozens of magazines, such as Forbes and others.Independent gemological laboratory reports on the Millennium Sapphire include The Gemological Institute of America (GIA), Gubelin Gemological Laboratory, Switzerland, and the Asian Institute of Gemological Sciences (AIGS), Thailand. Additionally, the Millennium Sapphire was recognized in 2001 in the Guinness Book of Records as the largest carved sapphire in the world at 61,500 carats.World-renowned gemologists have commented extensively on the Millennium Sapphire. \"This crystal is the largest single piece of gem-quality sapphire that I know of. It is very rare to see such a large piece of such good color,\" said Marcus McCallum, FGA, London. Garry Du Toit, now with the GIA, Bangkok said, \"It is definitely gem grade sapphire, a fine gem blue color. Other famous blue sapphires can not compare in terms of size, weight, and quite possibly color\". And finally, Christian Dunaigre, formerly with the Gubelin Gemological Laboratory, Switzerland said, \"This sapphire is ...