Exworth Union Inc acquired Strategic Acquisitions, Inc. for $2.1 million in a reverse merger transaction.
December 22, 2022
Share
Exworth Union Inc entered into an agreement to acquire Strategic Acquisitions, Inc. (OTCPK:STQN) for $2.1 million in a reverse merger transaction on December 22, 2022. Under the terms of agreement, Strategic Acquisitions issued an aggregate of 3,960,000 shares of common stock shares to the two shareholders of Exworth Union in exchange for 1,100 shares of Union's common stock. Exworth Union was determined to be the accounting acquirer and we, Strategic, were treated as the acquired company for financial reporting purposes. American Stock Transfer & Trust Company acted as transfer agent for Strategic Acquisition.
Exworth Union Inc completed the acquisition of Strategic Acquisitions, Inc. (OTCPK:STQN) in a reverse merger transaction on December 22, 2022.
Strategic Acquisitions, Inc., through its subsidiary, Exworth Union Inc (Union), is engaged in providing loans collateralized by digital assets. The Company originates United States (US) dollar-denominated loans and offers loans to both individual and business borrowers who own digital assets and desire to borrow against such digital assets rather than selling them. Borrowers that receive loans from the Company are required to transfer a specified value of digital assets to the Company to be held as collateral and security for the repayment of the loans. Upon maturity and repayment of a borrowerâs loan, the digital asset collateral is returned to the borrower. The Company also provides loan administration services to borrowers and lenders. The Company offers processing loan payments, forwarding information to counterparties, responding to inquiries, keeping loan profile records, preparing loan statements, and managing bank accounts and collateral accounts.
STRATEGIC ACQUISITIONS, INC. 
