KMT-Hansa Enters Into Memorandum of Understanding

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[{"type":"text","content":"KMT-Hansa Enters Into Memorandum of Understanding\n\n\n\n TORONTO, May 08, 2025 (GLOBE NEWSWIRE) -- KMT-Hansa Corp. (the “\n \n Company\n \n ”) is pleased to announce that it has entered into a memorandum of understanding (the “\n \n MOU\n \n ”) with Astra Algorithm Limited (“\n \n Astra\n \n ”), an arm’s length party to the Company. Astra is a private company incorporated pursuant to the laws of the Hong Kong Special Administrative Region of China and focused on the development of blockchain related technologies.\n \n\n Pursuant to the MOU, the Company and Astra will work together to a establish a subsidiary or joint venture (the “\n \n inBlock Sub\n \n ”) to further the products and services to be offered within the inBlock ecosystem. Pursuant to the Astra MoU, the Company will acquire up to 49% of the issued and outstanding securities in the capital of the inBlock Sub (the “\n \n inBlock Sub Shares\n \n ”). The purchase price for the inBlock Sub Shares will be determined by the parties upon the completion of the Company’s due diligence. The purchase price shall be satisfied through the (i) the payment of cash; (ii) the issuance of common shares in the capital of the Company (the “\n \n inBlock Sub Consideration Shares\n \n ”) and/or (iii) a combination of cash and issuance of inBlock Sub Consideration Shares. The inBlock Sub Consideration Shares will be issued at a price per share to be determined in the context of the market.\n \n\n The acquisition of the inBlock Sub Shares (the “\n \n inBlock Transaction\n \n ”) is subject to requisite shareholder and regulatory approval, including the approval of the TSX Venture Exchange and standard closing conditions, including the completion of due diligence investigations to the satisfaction of each of the Company and Astra.\n \n\n Prior to completion of the inBlock Transaction, the Company and Astra shall negotiate and enter into a definitive share exchange agreement on commercially reasonable terms and the parties shall have obtain the requisite shareholder approvals for the inBlock Transaction.\n \n\n No definitive agreement has been entered into between the Company and Astra and there can be no assurance that a transaction will be completed. The Company does not intend to...

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