WASHINGTON, DC and LONDON, UK, February 10, 2020 (NEWMEDIAWIRE) -- Xalles Holdings Inc. (OTC: XALL), a fintech holding company leveraging blockchain technology for financial reconciliation and payment auditing solutions, today announces that it has executed a Share Purchase Agreement to acquire 100% of the Ordinary Common Shares of Kaden International Holdings Ltd., a company targeting international fintech investments.
Under the Share Purchase Agreement, Xalles Holdings Inc. will acquire all of the ordinary common shares and all of the value of investments that Kaden International makes, while the Kaden International management team retains its Common A management shares. As part of the agreement, Kaden International will acquire a stake in First Bullion Holdings Inc.
First Bullion is building a next generation bank that already has established licenses and operations in banking, international remittance, finance leasing, deposit taking and virtual currency exchange. Their core operations are in Hong Kong, China and the Philippines. First Bullion aims to provide much faster and efficient cross border settlements and financing for business and personal banking customers. They enable seamless conversion of local currency to foreign currency and vice versa. Their innovative lending solutions for B2B, B2C and personal banking customers have attractive rates and installment terms.
First Bullion also offer a service to allow the digitalization or monetization of illiquid assets into liquid digital assets. First Bullion’s infrastructure and operation allows them to operate in a regulated, transparent and secure environment to ensure compliance, security, efficiency and cost-effective processing.
The Xalles team plans to help First Bullion expand its services into new markets. Xalles will also take advantage of First Bullion’s virtual currency exchange in conjunction with its X2X financial transaction reconciliation system.
First Bullion is currently expanding through organic revenue growth and acquisitions. Its plans include acquiring payment and other financial service companies. First Bullion’s management team plans to complete their London Stock Exchange (LSE) public listing within one year.
“We are excited to be adding, through Kaden, the international financial services that First Bullion offers to the Xalles portfolio,” stated Thomas Nash, Xalles Holdings CEO. He added, “our team has identified the synergies for Xalles subsidiaries to work with some of the First Bullion companies that they currently have under management and others that are a part of their acquisition roadmap. We expect tremendous asset appreciation through this investment and others planned by Kaden International.”
“We are pleased to be working toward the closing of this Share Purchase Agreement with Xalles,” said Emily Alexander, Director of Kaden International Limited. She added, “we look forward to progressing our acquisition plans and growing the revenue of our investment companies faster through our new relationship with Xalles Holdings and its subsidiaries.”
The agreement defined closing date for the transaction is February 29, 2020. Additional details of the agreement will be released following the closing event.
About Xalles Holdings Inc. (OTC: XALL)
Xalles Holdings Inc. is a holding company that focuses on direct investments in disruptive fintech companies. The company actively seeks acquisition targets in which it can invest and accelerate growth, targeting companies with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities. The company places emphasis on leveraging blockchain technologies to provide industry-leading financial reconciliation and auditing solutions, which, over time, will allow for the capture of recurring revenue streams. For more information visit: http://Xalles.com
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