PROEN Public: Notification of the progress of the acquisition of digital assets in cryptocurrency

PROEN No. 14/2022

May 31, 2022

Matter:

Notification of the progress of the acquisition of digital assets in cryptocurrency

TO:

President

The Stock Exchange of Thailand

According to PROEN Corp Public Company Limited (“the Company”), it has approved the investment of digital assets in cryptocurrencies pursuant to the terms of its partnership with Bitkub Blockchain Technology Company Limited (“Bitkub”), for the purpose of to study the implementation of the platform that has worked on digital asset exchange platforms. The Company will be the partner in the validation of transactions (Validator Node) as a PoSA (Proof of Stake Authority) on the transaction validation system of the blockchain of Bitkub (Bitkub Chain), the company notified the progress as follows.

The legitimacy of the transaction (Staking), as a result, the Company is obliged to purchase KUB coins from Bitkub for an amount not exceeding 72,949,815 Baht and the Company will receive KUB coins in the amount of 250,000 coins with the terms that prohibit the Company must sell and/or trade these coins by May 31, 2023. Currently, the Company has not paid for the coin.

The essence of the amended agreement is that Bitkub offers a price guarantee in the event that the KUB price is lower than the purchase price. On the expiry of May 31, 2023, if there is a reduction in the price invested by the company of the digital asset exchange, Bitkub will compensate the company for the lower price difference compared to the purchase price.

Please be informed accordingly.

Cordially,

PROEN Corp Public Company Limited

(Mr Kittipan Sri-bua-iam)

Chief executive officer

Disclaimer

Proen Corporation pcl published this content on May 31, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on May 31, 2022 05:59:02 UTC.