SAN SALVADOR, El Salvador, Dec. 27, 2023 (GLOBE NEWSWIRE) -- Eco Bright Future, Inc. ("EBFI" or the "Company") (OTC: EBFI) announces it has entered a Letter-of-Intent ("LOI") with United Heritage, Sociedad Anonima De Capital Variable ("UNITED"), dated 20 December 2023. The LOI lays out the initial proposed terms and conditions pursuant to which the Company and UNITED will affect a business transaction that will result in a merger of the Company and the shareholders of UNITED (the "Proposed Transaction"). The entity resulting from the Proposed Transaction (the "Resulting Issuer") will continue to carry on the business of UNITED as an artificial intelligence and blockchain technology company that utilizes real world tokenization (RWA) to create a virtual investment vehicle on the blockchain linked to tangible assets. Things like real estate, precious metals, art, and collectibles.
United Heritage, Sociedad Anonima De Capital Variable will provide digital assets from El Salvador, tokenize assets and develop blockchain tools to countries such as Tunisia and United Arab Emirates. In addition, UNITED and EBFI also plan to enter into various agreements in connection with its blockchain products in Thailand, Indonesia, and Guatemala.
UNITED, prior to entering the LOI with EBFI, has secured relationships with its ultimate beneficiaries represented by Universa Blockchain (https://www.universablockchain.com). The ultimate beneficiary companies have developed, tested, and implemented the products that they are coming with into UNITED and EBFI.
Additional information about the products and the ultimate beneficiaries can be found at the following links:
https://cointelegraph.com/news/commodity-trading-gets-sweeter-with-blockchain-based-sugar-exchange
https://www.dmcc.ae/news/dmcc-al-khaleej-sugar-and-universa-launch-online-sugar-trading-platform
https://www.tap.info.tn/en/Portal-Economy/12859993-ati-universa-hub
EBFI has received and accepted the resignation of Monica Ogorek as Secretary and Francisco Celedon as director. George Athanasiadis will remain as CEO, Director and Treasurer. Tomax Strgr has been appointed CTO and Director of the Company. Mr. Strgr is a security specialist that recently retired as NATO officer and is currently concentrating on digital security. Additional board members and officers of the Company will be announced in the near future.
This merger is the next step in UNITED’s growth strategy to create a billion-dollar company over the next few years. The merger will benefit both EBFI and UNITED by providing a stronger vehicle to conquer the huge real-world assets tokenization market. The convergence between digital and traditional asset classes, including fiat currencies, equities, government bonds, and real estate, is experiencing unprecedented growth and opens the huge market for our company.
The Proposed Transaction will be structured as an amalgamation, arrangement, share purchase or other similar form of transaction mutually acceptable to the Company and UNITED. The Company intends to issue a subsequent news release with comprehensive details regarding the Proposed Transaction, including the proposed capitalization of the Resulting Issuer, upon execution of the definitive agreement.
Completion of the Proposed Transaction is subject to several conditions, including, but not limited to shareholder approval.
About United Heritage, Sociedad Anonima De Capital:
United Heritage, Sociedad Anonima De Capital Variable is introducing the evolution of a modern blockchain technology that was chosen by governments and large corporations worldwide. Universa Blockchain is the platform and the protocol intended for decentralized storage of the trust/validity for modifiable smart contracts, focused on real-world businesses and digitizing/tokenizing the business processes with minimum interference to the established existing infrastructure. This unique model helps each part of the ecosystem grow through robust but simple-to-use technology platforms.
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or the future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, including the Company’s filings disclosed at www.sec.gov. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Contact Information:
George Athanasiadis CEO
George@ecobrightfuture.com
(727)692-3348
