NetworkNewsBreaks – Virtual Crypto Technologies
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Posted On: 05/21/2018 4:41:18 PM
NetworkNewsBreaks – Virtual Crypto Technologies Inc. (VRCP) Accepts Second MOU Milestone Payment from Chiron Refineries Ltd. (TASE: CHR) in Chiron Stock
Virtual Crypto Technologies (OTCQB: VRCP), through wholly-owned Israeli subsidiary Virtual Crypto Technologies Ltd., this morning announced that it will receive payment in the form of stock for the second milestone payment of $50,000 in accordance to the binding Memorandum of Understanding (“MOU”) with Chiron Refineries Ltd. (TASE: CHR) for distribution in the territory of Turkey and North Cyprus from January 2018. In lieu of cash, Virtual Crypto elected to accept payment in the form of 380,000 Chiron shares at the price of 0.55 NIS per share to be made following delivery of the company’s Beta version of the software for its tablet product to Chiron. The transaction is subject to the approval by the Tel Aviv Stock Exchange. “Our collaboration with Chiron continues to progress at an accelerated pace, largely driven by their desire to establish an early foothold in the Turkish and Cypriot markets. Preliminary testing of the modified software was extremely successful, and we expect to maintain this momentum, providing them with a next version we expect to be released in the following weeks,” Virtual Crypto CEO Alon Dayan stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Virtual Crypto Technologies (OTCQB: VRCP), through wholly-owned Israeli subsidiary Virtual Crypto Technologies Ltd., this morning announced that it will receive payment in the form of stock for the second milestone payment of $50,000 in accordance to the binding Memorandum of Understanding (“MOU”) with Chiron Refineries Ltd. (TASE: CHR) for distribution in the territory of Turkey and North Cyprus from January 2018. In lieu of cash, Virtual Crypto elected to accept payment in the form of 380,000 Chiron shares at the price of 0.55 NIS per share to be made following delivery of the company’s Beta version of the software for its tablet product to Chiron. The transaction is subject to the approval by the Tel Aviv Stock Exchange. “Our collaboration with Chiron continues to progress at an accelerated pace, largely driven by their desire to establish an early foothold in the Turkish and Cypriot markets. Preliminary testing of the modified software was extremely successful, and we expect to maintain this momentum, providing them with a next version we expect to be released in the following weeks,” Virtual Crypto CEO Alon Dayan stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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