HO CHI MINH CITY, VIETNAM / ACCESSWIRE / December 3, 2018 / Santo Mining Corp. (the "Company"), (OTC PINK: SANP) today announces that the company has elected to immediate terminate its agreement immediately with HTX Nong Thuy Huu Co Xanh, aka ASAMA and that its Law Firm in Ho Chi Minh City Vietnam; ANT Consultants & Lawyers have issued the noticed of immediate termination letter to ASAMA including there three Directors Mr. Dao Thanh Duc, Mr. Luong Anh The & Mr. Phan Dung Van, terminating the agreement immediately.
Under the Plan of Exchange Agreement; dated and executed on April 30th, 2018, by and among SANTO MINING CORP., and HTX Nong Thuy Huu Co Xanh, a.k.a. "ASAMA." ASAMA was obligated to pay SANTO for an PCAOB Audit, up-listing to fully reporting status on the OTCQB and the development of a 100,000Th/s mining facility in North America, estimated investment amount over $2,000,000USD.
ASAMA has failed to fulfilled its financial obligations and under the accordance with section (6) "Merger Clause" in the event of a monetary default of section (3) "Transaction Descriptive Summary" ASAMA has 14 calendar days to remedy the default or the entire agreement will become immediately null and void and all exchanged shares, common stock or preferred "A" shares will be surrendered back to Santo Mining Corp.
On November 19th, 2018 a "NOTICE OF DEFAULT AND DEMAND", was issued, pursuant to the terms and conditions of the Plan of Exchange Agreement. The company; nor the company's attorneys, have received any noticed of remedy from ASAMA. Under the terms of the Agreement the surviving board of director Mr. Franjose Yglesias hereby in a unanimous decision enforces the provisions on section (6) "Merger Clause", affective immediately.
Mr. Franjose Yglesias, President, commented, "We are focused and moving forward with our Blockchain development software company Crypto N3 in Saigon. During the weeks to come we will be updating the OTCMarkets, Financials, State of Florida Corporation and our business deployment plan for Crypto N3. The company will be focused on the development of Security Token Offering (STO), Tokenized and Fractionalized Securities Smart Contracts (TFSSC), Tokenized Asset Offerings (TAO) and Equity Token Offering (ETO)."
About Santo Mining Corp.
Santo Mining Corp, a publicly traded company in the Over-the-Counter (OTC) market, trading under the ticker symbol SANP. Formerly an analog mining company in the gold and copper sector, it has now focused on the global blockchain technology industry and the application of blockchain solutions to real-world environments. The company has interest in various hardware and software blockchain solutions. It has developed a security-focused blockchain hardware wallet, and it is aggressively finding opportunities to invest or acquire blockchain software development projects worldwide. SANP is developing the use of third generation cryptocurrency proof-of-stake/proof-of-work smart contracts for commercial applications throughout various industries.
Media contacts:
Mr. Franjose Yglesias
833.N3N3N33
[email protected]
twitter.com/otcsanp
Forward Looking Statements and Disclaimer
Statements made in this press release that express the Company or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe," "expect," "intend," "estimate," "anticipate," "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company's forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company's future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. No information in this press release should be construed as any indication whatsoever of the Company's future revenues or results of operations.
SOURCE: Santo Mining Corp.