Additionally Announces Termination of LOI with Fortune8
London, UK, Aug. 16, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Byzen Digital Inc. (OTC PINK: BYZN), a technology mergers and acquisitions company, today announced the opening of new operational company in the UK, Byzen Digital Limited.
Over the past 12 months Byzen Digital Inc. has continued to develop its business model and now has a clear strategy that identifies and engages with SME (small and medium-sized enterprises) technology companies with the goal to developing commercial relationships. In addition, the Company also looks to offer its consultancy services into this sector with a focus on technology market disrupters. Byzen Digital Inc. recently established a Consultancy Services Division in conjunction with its strategic partner, The Axiom Partnership. To assist in developing this model, Byzen Digital management has commissioned the opening of a new operational company in the UK, Byzen Digital Limited, which will replace the non-operational Byzen Digital UK Limited that will be closed shortly.
Termination of LOI
Byzen Digital Inc. additionally announces that further to its Letter of Intent (LOI) with Fortune8 Technologies, that after months of negotiations, it is currently unable to reach a definitive agreement to complete the acquisition of the Company.
Byzen Digital President Chris Percy commented, “It is with regret that we have made the operational decision to no longer engage directly with Fortune8. The Board and I wish them success in their future ventures. With this action we now have the luxury to continue to explore and develop other new and existing opportunities.”
About Byzen Digital Inc.
Byzen Digital is a high-growth organisation focused on mergers and acquisitions in the technology space. Originally set up to service the growing blockchain sector, Byzen Digital’s scope has quickly grown beyond its initial focus to incorporate start-ups and SMEs (small and medium-sized enterprises) from the wider technology arena including cyber security, data storage, cloud-tech, analytics, software and digital applications.
The Byzen family provides vital strategic insight, global funding access and a robust corporate structure to support its incorporated ventures in positioning concepts for global success. For more information go to: www.byzendigital.com
Safe Harbour Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The company assumes no duty to update its forward-looking statements.
Byzen Digital INC