NEW YORK, Oct. 24, 2018 /PRNewswire/ -- Ideanomics
(formerly: Seven Stars Cloud Group, Inc.) (NASDAQ: SSC)
("Ideanomics" or the "Company"), a leading global fintech and asset
digitization services company is pleased to announce its
commodities and energy division has signed its first project for a
traditional financing and security token offering (STO) by entering
into a financial advisory service agreement with Zhonjinhuifu
Resources ("Zhonjinhuifu") CO., LTD, a Hong Kong company, whereby Ideanomics will
advise and lead Zhonjinhuifu on its planned USD$200 million capital raise over the next two
years.
The Ideanomics commodities and energy division is focused on a
super artificial intelligence-based risk management
Platform-as-a-Service (PaaS) and operations for project based
traditional, and STO, financing such as the magnesium project
listed above.
"As owner and operator of the world's leading magnesium mine,
with non- ferrous metal deposits over 7.8 billion metric tones,
Zhonjinhuifu Resources has chosen Ideanomics to provide strategic
financial advisory services. Ideanomics is positioned to be both
traditional and a next generation security token offerings (STO)
sales and distribution platform in the asset digitization economy.
With a comprehensive ecosystem of digital products and services, we
are committed to deploying traditional assets and capital into a
new world paradigm," said
Brett McGonegal, co-CEO of
Ideanomics.
"We are very excited to have Ideanomics as our strategic global
financial advisors. Ideanomics has established a global compliant
network of financial technology, user community, digital asset
production, and provides more than just an end-to-end
Platform-as-a-Service (PaaS) fintech solutions," said Sun Jiang Kong, Chairman of Zhonjinhuifu
Resources. "Having Ideanomics usher our company into this new
digital issuance paradigm gives us a clear path to digital asset
issuance and digital financing solutions."
Under the terms of the agreement the Ideanomics commodities and
energy division will serve as the global financial advisors for
Zhonjinhuifu Resources. The
Ideanomics' services will include, but are not limited to, advising
on financing related actives through the issuance of utility token
and securities tokens outside of China; advising on fixed income products,
other digital assets, financing instruments agreed by both parties;
and recommending suitable digital and traditional financing
tools.
About Zhonjinhuifu Resources
Zhongjinhuifu
Resources CO., LTD, a Hong Kong
registered company, is a wholly owned subsidiary of Big Thumb
Company, CO., LTD., and currently operates the world's largest
magnesia mine with a total of 7.8 bn metric tons of deposit of
magnesium and other non-ferrous metal. The thumb holding group was
founded in 1995, the headquarters is located in Beijing, is a collection of text brigade, real
estate, mining, energy, financial investment, modern agriculture,
culture media in the integration of large international group. 's
thumb energy mining group, thumb industrial group, thumb culture
media and so on dozens of overseas holdings, joint-stock
enterprises, formed a complete set of international industry chain,
with the characteristic of thumb business involves many national
and overseas cities, the speed of the group to an annual turnover
of more than ten billion yuan have
been developing steadily.
About Ideanomics
Ideanomics provides
Platform-as-a-Service (PaaS) solutions with strong multi-layer
fintech technologies leveraging blockchain and artificial
intelligence. Our technology and infrastructure uses blockchain and
smart contract for security token issuance and trading, artificial
intelligence to provide a system for asset rating and
recommendation services, and in-house and partner service providers
for digital asset securitization. Ideanomics will monetize and
leverage distribution through its communities and direct sales
channels, through its AI assisted lending and automated sales
systems, and asset securitization with a concerted focus on
regulatory compliance. Our goal is to drive capital formation and
sales across our digital asset ecosystems through decentralized
product origination and centralized issuance and trading.
With headquarters in New York,
NY and its planned "Fintech Village" center for Technology
and Innovation in West Hartford,
CT, and offices in London,
Hong Kong, Beijing, and Shanghai, China.
Ideanomics continues to drive growth and deal flow in its core
product areas:
1) Fixed Income-based Digital Assets [Chinese
National Electric Bus Financing Agreement, First Auto Loan
Financing Agreement, IHT- Real Estate JV] [HooXi - MedTech],
GreenTech Assets [HooXi], Commodity and Energy Digital Assets
through [BBD Digital Capital Group] [Clean Tech HooXi]
2) TradeTech Digital Assets [Asia-Pacific Model
Electronic Port Network (APMEN) JV]
3) Consumer Tech Digital Asset [Grapevine
acquisition] [MedTech – HooXi]
Safe Harbor Statement
This press release contains certain statements that may include
"forward looking statements". All statements other than statements
of historical fact included herein are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website (http://www.sec.gov). All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
IR Contacts
Federico Tovar, CFO at
Ideanomics
Tony Sklar, VP of Communications at
Ideanomics
Email: ir@sevenstarscloud.com
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SOURCE Ideanomics