HONG KONG, Feb. 22, 2021 /PRNewswire/ -- Lion Group Holding Ltd. ("Lion" or "the Company") (NASDAQ: LGHL), operator of an all-in-one trading platform that offers a wide spectrum of products and services with a focus on Chinese investors, today announced a strategic partnership with Grandshores Technology Group Limited ("Grandshores Technology") (HKEX: 01647).
Royal Lion Middle East DMCC, a company in the process of being acquired by Lion, holds a digital asset trading license, issued by Dubai Multi Commodities Centre ("DMCC"), and functions as a central counterparty in the crypto asset market. Lion intends to hire Grandshores Technology as a consultant to provide blockchain technology support, advice on operations, and consulting services in operating digital asset trading platforms.
With the cooperation, Lion is preparing to set up a blockchain related fund up to a maximum of US$800 million. The fund will invest in digital currencies including but not limited to Bitcoin (BTC), Ethereum (ETH) and its ecological industry chain, and invest in the stocks of listed companies in the blockchain field with growth potential, or the equity of private companies that will be listed in the near future. Additionally, Lion will also prepare the issuance of mainstream digital currency trust funds similar to GrayScale. Mr. Yao Yongjie, chief technical adviser of Lion and the Chairman of Grandshores Technology, will facilitate the cooperation between the two parties.
"We are pleased to announce the partnership with Grandshores Technology, which offers many resources and extensive investment management experience within the blockchain field," Mr. Chunning (Wilson) Wang, Chief Executive Officer of Lion, commented. "Through this cooperation, we will leverage the advantages of our respective capital, platform and resources to achieve success and sustainable growth in the development of blockchain technology and industry."
Lion Group Holding Ltd. (NASDAQ: LGHL) operates an all-in-one trading platform that offers a wide spectrum of products and services with a focus on Chinese investors. Through its state-of-the-art technology, Lion offers contract-for-difference (CFD) trading, insurance brokerage, futures brokerage, and securities brokerage on its platform, which can be accessed through applications available on the iOS, Android, Windows, and macOS systems. Lion's customers are well-educated and affluent Chinese individual investors residing both inside and outside the PRC as well as institutional clients in Hong Kong. Additional information may be found at http://ir.liongrouphl.com.
This press release contains, "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Lion's actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "might" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Lion's expectations with respect to future performance and anticipated financial impacts of the Business combination, the satisfaction of the closing conditions to the business combination and the timing of the completion of the business combination. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside the control of Lion and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability to maintain the listing of the post-acquisition company's ADSs on NASDAQ following the business combination; (2) the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the transactions described herein; (3) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably and retain its key employees; (4) costs related to the business combination; (5) changes in applicable laws or regulations; (6) the possibility that Lion may be adversely affected by other economic, business, and/or competitive factors; and (7) other risks and uncertainties to be identified in the proxy statement/prospectus relating to the business combination, including those under "Risk Factors" therein, and in other filings with the Securities and Exchange Commission ("SEC") made by Lion. Lion cautions that the foregoing list of factors is not exhaustive. Lion cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Lion does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law.
Lion Group Holding
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SOURCE Lion Group Holding Ltd.