American Premium Water Corp. to Acquire CloudXchange DataCentre Inc. to Focus on Crypto-Mining Related Businesses With Earnings Guarantee of US$1.5 Million for the First 12 Months

American Premium Water Corp. to Change Focus to Crypto-mining Related Businesses, Will Change Name of Company to Reflect New Focus 

PLAYA VISTA, CA, April 24, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – American Premium Water Corporation (OTC:HIPH) ("APW" or the "Company”) is pleased to announce that its Board of Directors has approved the acquisition of 100% ownership of CloudXchange DataCentre Inc. (“CloudX”),  an entity that engages in crypto-mining related business through its wholly owned subsidiary CloudXchange DataCentre Pte Ltd (“CloudX SG”), to diversify the Company’s earnings. The purchase price of the transaction will be at a consideration of US$45.6 million, which reflects a projected price-to-earnings ratio of 30. To fund the acquisition, the Company will issue restricted common shares of equivalent value to Mr. Chan Heng Fai, Ambrose (the “Seller”), the sole shareholder of CloudX.