Greenpro Sells Millennium Sapphire Stake
Hong Kong, July 2, 2020 (ACCESSWIRE) – Greenpro Capital Corp. (Nasdaq: GRNQ) (the “Company”) today disclosed that it has sold its 4% interest in the Millennium Sapphire to Millennium Fine Art, Inc., “MFAI” for US$5 million paid via one (1) million shares of MFAI.
CK Lee, CEO of GRNQ said: “we are excited by the potential of MFAI and its planned listing on either NASDAQ or NYSE. MFAI’s business model will disrupt the art industry and create a new asset class in fine art.”
The Company is spinning off one million shares of its subsidiary, Millennium Fine Art, Inc., to its shareholders of record on July 1, 2020.
About Greenpro Capital Corp.
Headquartered in Hong Kong with strategic offices across Asia, Greenpro Capital Corp. (Nasdaq: GRNQ) is a business incubator and multinational conglomerate with a diversified business portfolio comprising finance, technology, banking, CryptoSx for STOs, health and wellness and fine art. With 30 years of experience in various industries, Greenpro has been assisting and supporting businesses and High-Net-Worth-Individuals to capitalize and securitize their value on a global scale through the provision of cross-border business solutions, spinoffs on major stock exchanges and accounting outsourcing services to small and medium-size businesses located in Asia. The comprehensive range of cross-border business services include, but are not limited to, trust and wealth management, listing advisory services, transaction services, cross-border business solutions, record management services, accounting outsourcing services and tax advisory services. We also operate venture capital businesses, including business development for start-ups and high growth companies, covering finance, technology, FinTech, and health and wellness. For further information regarding the Company, please visit http://www.greenprocapital.com.
About the Millennium Fine Art business
GRNQ is spinning off one million shares of Millennium Fine Art, Inc. (“MFAI”), as a dividend to GRNQ’s shareholders of record on July 1, 2020. MFAI is GRNQ’s wholly owned subsidiary incorporated in Wyoming and intends to conduct an IPO and list on either the NASDAQ or NYSE. MFAI intends to take the Millennium Sapphire and other art masterpieces on a world tour of museums once they are open to the public, as well as to develop an augmented reality platform including sales and live art auctions via one of the premier auction houses.
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company’s financial position and business strategy. The words or phrases “plans,” “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think,” “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
GRNQ has 59.16 million shares outstanding and 4.88 million shares in the float.
Gilbert Loke, CFO, director
Greenpro Capital Corp.
Phone: +852-3111 7718
Contact Dennis Burns, Investor Relations.
Tel (567) 237-4132
For more information on the Millennium Sapphire please visit:
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