Code Chain New Continent Limited entered into a non-binding letter of intent to acquire Filecoin Mining Assets from Shenzhen Jindeniu Electronics Limited for approximately $15.9 million.

Code Chain New Continent Limited (NasdaqCM:CCNC) entered into a non-binding letter of intent to acquire Filecoin Mining Assets from Shenzhen Jindeniu Electronics Limited for approximately $15.9 million on September 14, 2021. Code Chain New Continent Limited entered into an asset purchase agreement to acquire Filecoin Mining Assets from Shenzhen Jindeniu Electronics Limited on September 27, 2021. The total purchase price will be approximately $15.92 million, payable in cash.

Upon completion of the legal and financial due diligence and the Company's satisfaction of the results, the two parties will enter into a definitive assets purchase agreement within five days. The definitive assets purchase agreement's execution shall be no later than December 31, 2021.