Jiuzi Holdings, Inc. (Nasdaq: JZXN) has announced it is in strategic cooperation discussions with an unnamed Web3 technology company specializing in artificial intelligence cryptocurrency trading platforms. According to a preliminary agreement, both parties plan to jointly develop and promote an AI-powered cryptocurrency diagnostics and trading platform to advance market-oriented applications.
The collaboration involves JZXN acquiring tokens issued by the counterparty at a significant discount through a private placement of its common stock, representing a total value of approximately US$1 billion. Based on current market valuations, the company expects to generate considerable unrealized gains upon successful completion of the transaction.
A key aspect of the announcement is that the counterparty's tokens are expected to apply for listing and trading on Binance, which could significantly enhance the token's market discovery capabilities and liquidity. However, the company emphasized there can be no assurance regarding the success, timing, or post-listing performance of such potential listing.
The partnership aims to integrate resources and expertise in AI technology, cryptocurrency trading, and the Web3 sector, advancing the productization and commercialization of AI-driven market trend analysis, risk identification, and intelligent trading engines. Jiuzi Holdings believes this cooperation could strengthen its technological reserves and business footprint, potentially creating new business opportunities and delivering medium-to-long-term value.
It's important to note that the matter remains subject to ongoing negotiations and framework arrangements, with material uncertainties regarding whether a legally binding definitive agreement will be signed. The proposed private placement and token acquisition arrangements may not proceed as anticipated. JZXN stated it will comply with all applicable laws, regulations, and supervisory requirements while advancing these matters under principles of prudence, compliance, and manageable risk.
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