Canoe Pool & Santo Mining Corp Sign LOI for Bitcoin Pool Market in America
October 02 2017 - 1:00PM
InvestorsHub NewsWire
Sichuan, China -- October 02, 2017 -- InvestorsHub NewsWire --
Chongqing Yuhuan Technology Co., Ltd., operating as Canoe Pool and
Santo Mining Corp., operating as Podwerks (OTC:
SANP), a manufacturer of modular container units servicing the
U.S., today announce the signing of a letter of intent ahead of
executing a definitive agreement to merge the two companies. The
merger will result in a new entity called Canoe Pool America,
focused on developing and expanding the U.S. operations for Canoe
Pool’s bitcoin mining operations. Once the merger agreement has
been executed Canoe Pool is to receive 150 million shares of SANP
preferred stock, representing 35% of SANP post-merger stock. An
additional 50 million shares of preferred stock will be issued upon
achievement of certain Bitcoin mining milestones, for a total of up
to 40% of SANP post-merger stock. Canoe Pool will be given three
director slots to the SANP Board of Directors. The transaction is
expected to be finalized within the next 4-6 weeks.
“The U.S. market presents a tremendous opportunity for us to
grow into a Bitcoin mining powerhouse. We’re currently experiencing
a U.S. led paradigm shift in acceptance of crypto currency markets
through regulation. This is good news to the mining community in
China looking to expand overseas. We are still facing great
uncertainties at home about the future of digital currencies.
Mining is not immune to it,” says Ang Li, Chairman and CEO of Canoe
Pool. “Through our partnership with Podwerks we feel confident we
can begin building our first mining pods by the end of the year. We
look forward to working together and generate more profits for our
shareholder. After all, we will soon be a publicly traded company,”
added Li.
Canoe Pool has been experiencing rapid growth with two
state-of-the-art mining facilities in central and northwest China.
Their latest mining farm in Xinjiang, China is a partnership with
Beijing-based Bitmain Technologies Ltd., the world’s largest
bitcoin mining organization. Canoe Pool’s total hashrate potential
is 700P.
About Canoe Pool
Canoe Pool (Chongqing Yuhuan Technology Co., Ltd.), led by its
founder Ang Li since 2013, is one of the fastest growing bitcoin
mining companies in China with two large-size mining farms in
Sichuan and Xinjiang, China; and with a total capacity of 75
thousand kilowatts, accommodating up to 50 thousand of the latest
Bitmain S9 mining machines. Canoe pool has a total hashrate
potential of 700P. Miners can choose between PPS or PPLNS payment
systems with fees of 2% or 4%, accordingly. Canoe Pool currently
supports Bitcoin Unlimited and represents 1.7% of the global crypto
currency mining market share. More at https://www.canoepool.com
About Podwerks
Podwerks is a manufacturer of modular container spaces for the
co-working and cannabis industries in the United States. Using
proprietary technology, Podwerks develops full specturm grow pods
designed and built to withstand sub-zero temperatures. Pods are
designed to limit humidity and absorb excess heat, providing for a
more energy effect experience. All pods come equipped with the
latest in equipment and serviced by a team with over 25 years of
engineering expertise. More at www.podwerks.com
Contact Information:
Canoe Pool
Li Ang
+68529209111
Contact via Email
https://www.canoepool.com
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