SAN ANTONIO, Sept. 16, 2022 (GLOBE NEWSWIRE) — Ecoark Holdings, Inc. (“Ecoark”) (Nasdaq: ZEST) has introduced it has terminated the Securities Exchange Agreement beforehand introduced on August 11, 2022, for HUMBL to amass Ecoark’s roughly 89% owned subsidiary, Agora Digital Holdings, Inc. (“Agora Digital”). The unique phrases of the Securities Exchange Agreement supplied for Ecoark and the remaining homeowners of Agora Digital to obtain $60,000,000 in a brand new class of HUMBL most well-liked inventory in consideration for promoting their pursuits in Agora Digital to HUMBL. The transaction was topic to varied closing circumstances, and regardless of working diligently over the past month, the events have been unable to succeed in settlement on key phrases required to shut. As a consequence, the events have mutually agreed to terminate the Securities Exchange Agreement.
Following this announcement, Agora Digital plans to vary its technique by exiting the Bitcoin mining business and specializing in being a power-centric internet hosting firm of varied varieties of digital asset mining machines by its energy contracts within the State of Texas and different potential jurisdictions. Additionally, Agora Digital will proceed to work to supply energy by extra alternatives resembling extra oil effectively flare gasoline. Agora Digital had ceased its mining operations in March of 2022 because the Bitcoin market softened and divested all Bitcoin holdings in September 2022.
About Ecoark Holdings, Inc.
Founded in 2011, Ecoark is a diversified holding firm. Ecoark owns 4 principal subsidiaries both instantly or not directly: roughly 70% of Enviro Technologies US, Inc. dba Wolf Energy Services (OTC: EVTN) (“Wolf Energy Services”) not directly, roughly 70% of Fortium Holdings Corp (OTC: FRTM) (“Fortium”) not directly, 100% of Zest Labs, Inc. (“Zest Labs”) instantly, and roughly 89% of Agora Digital Holdings Inc. (“Agora”) instantly. Enviro gives trucking and different providers for oil and gasoline providers corporations by its Banner Midstream business. Fortium owns White River Holdings Corp., an oil and gasoline drilling, exploration, and manufacturing firm. Zest Labs, presents the Zest Fresh™ answer, a breakthrough strategy to high quality administration of recent meals, is particularly designed to assist considerably scale back the $161 billion quantity of meals loss the U.S. experiences every year. Agora engaged within the mining of Bitcoin previous to the business sell-off by its subsidiary, Bitstream Mining LLC.
ZEST FRESH™ and Zest Labs™ are emblems of Zest Labs, Inc.
Forward-looking Statements
This press launch incorporates forward-looking statements regarding Ecoark inside the which means of the Private Securities Litigation Reform Act of 1995, together with statements associated to the change of Agora’s business mannequin. The phrases “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and comparable expressions, as they relate to us, are supposed to determine forward-looking statements. These statements are primarily based on administration’s present expectations and beliefs, in addition to a quantity of assumptions regarding future occasions. Such forward-looking statements are topic to recognized and unknown dangers, uncertainties, assumptions, and different essential components, resembling market and different circumstances, many of that are outdoors administration’s management. Additional components or occasions that might trigger our precise outcomes to vary might emerge once in a while, and it’s not doable for us to foretell all, of them. Among the dangers which will have an effect on these forward-looking statements are unanticipated points regarding energy contracts, and the supply of ample flare gasoline. Additional dangers and uncertainties are recognized and mentioned in Ecoark’s filings with the SEC, together with the Annual Report on Form 10-Ok for the fiscal yr ended March 31, 2022. Any forward-looking assertion made by us herein speaks solely as of the date on which it’s made. Additional components or occasions that might trigger our precise outcomes to vary might emerge once in a while, and it’s not doable for us to foretell all of them. We undertake no obligation to publicly replace any forward-looking assertion, whether or not in consequence of new info, future developments or in any other case, besides as could also be required by legislation.
Ecoark Contact:
Investor Relations:
Marc Silverberg, ICR
Brian McBride, Ecoark
1-800-762-7293
[email protected]
