2022-04-24 | OTCPK:HIPH | Press release

American Premium Water Corp. will change focus to businesses related to crypto mining and change the company name to reflect the new focus

PLAYA VISTA, Calif., 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 conducts business related to cryptocurrency mining through its wholly owned subsidiary CloudXchange DataCentre Pte Ltd (“CloudX SG”), in order to diversify the company’s earnings. purchase of the transaction will be US$45.6 million, reflecting a projected price/earnings ratio of 30. To fund the acquisition, the Company will issue restricted common stock of equivalent value to Mr. Chan Heng Fai, Ambrose (the “Seller”), the sole shareholder of CloudX.

CloudX is primarily engaged in investing in the cryptocurrency space with a focus on crypto mining and staking business. Crypto-mining refers to the process that verifies and adds new transactions to the blockchain by solving complex mathematical equations for a cryptocurrency. The crypto-miner who first solves the complex mathematical equations is rewarded with the respective cryptocurrency. Cryptocurrency staking is a process that involves using crypto assets to support a blockchain network and verify transactions.

For risk management purposes, CloudX crypto mining data centers will be strategically located in locations such as Singapore, Malaysia (Sarawak) and Texas, USA with various service providers.

Ryan Fishoff, CEO of APW, commented, “The company is very excited about entering the crypto mining space. This acquisition is designed to provide APW with a stable and growing revenue stream and position the company for long-term growth and profitability. The acquisition of CloudX will be transformative for the company as APW embarks on a new business strategy designed to enhance shareholder value.”

As part of the terms of the acquisition agreement, the seller has provided APW with a guarantee to generate a minimum of US$1.5 million in earnings before interest, taxes, depreciation and amortization (“EBITDA & CloseCurlyDoubleQuote;) for CloudX SG during the first 12 months from June 2022 or upon full delivery of mining rigs (miners).In the event CloudX SG’s EBITDA is less than US$1.5 million, a guaranteed supplement for any shortfall up to US$1.5 million will be borne by the seller.

With the acquisition of CloudX, the company will focus on the crypto mining sector and intends to change its name to “American Premium Mining Corporation”. The company has previously focused on building brands that utilize advanced bioscience and nanotechnology in CBD and wellness.

About CloudXchange DataCentre Inc.

CloudXchange DataCentre Inc. is a holding company of CloudXchange DataCentre Pte Ltd, which primarily invests in the cryptocurrency sector, with a focus on crypto mining and staking activities. CloudX strives to leverage the potential of the cryptocurrency space to generate predictable revenue and operating income.

About American Premium Water Corporation

APW is a diversified consumer products company focused on brands that use advanced bioscience technology. The company is focused on harnessing the power of Nano technology which uses CBD and other compounds to help improve the quality of life of its consumers.

Forward-looking statements

This press release contains statements that may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the sphere of security from liability established by the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control and may cause results to differ materially from expectations. For a discussion of the most significant risks and uncertainties associated with the Company’s business, please see our filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact information

American Premium Water Corporation

12777 Jefferson Blvd.

Building D

Playa Vista, CA 90066

E-mail: info@americanpremiumwater.com

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