Addentax Group enters into non-binding term sheet to acquire 12,000 Bitcoins

Addentax Group announced that it has entered into a non-binding term sheet with a substantial and independent Bitcoin (BTC) holder to acquire up to 12,000 Bitcoins, significantly increasing the potential acquisition size from the originally discussed 8,000 BTC as disclosed in the Company’s May 15 press release. Based on prevailing market prices, the proposed acquisition represents an aggregate market value of approximately $1.3B. If completed, the transaction would be settled through the issuance of newly issued shares of the Company’s common stock. This term sheet outlines the preliminary framework for the contemplated acquisition and remains subject to the negotiation and execution of a definitive agreement, the satisfactory completion of due diligence, and customary approvals. The final number of Bitcoins to be acquired, the number of shares to be issued, and the issuance terms will be determined through mutual agreement.