Under the Symbol:
Greenpro Closes Millennium Sapphire Acquisition, Plans Spinoff
Tuesday, June 2, 2020 9:15 AM
HONG KONG / ACCESSWIRE / June 2, 2020 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced that it has closed on its acquisition of 4% of the Millennium Sapphire for US$4 million. The acquisition was paid via the issuance of 4.44 million GRNQ restricted shares valued at $0.90 per share.
GRNQ's wholly-owned Wyoming subsidiary, Millennium Fine Arts, Inc. ("MFAI"), has today completed its acquisition of the remaining 96% interest of the Millennium Sapphire for $96 million via the issuance of 19.2 million shares of MFAI valued at $5 per share.
CEO CK Lee said, "we are very pleased to have the Millennium Sapphire as the first of hopefully many significant world-class art acquisitions. We plan to continue acquiring fine art masterpieces by world-renowned painters and develop the business both online, including live auctions and exhibitions, and in museums, once they are open to the public".
About the Millennium Sapphire
The Millennium Sapphire is widely considered an icon in the world of art and gems. It is one of the most documented gemstones of modern times. Since its discovery in Madagascar in 1995, this remarkable blue gem has appeared on CNN, BBC, NBC, FOX, and numerous other television networks around the world. It has been written about in virtually every major newspaper and has been the subject of articles published in dozens of magazines, such as Forbes and others.
Independent gemological laboratory reports on the Millennium Sapphire include The Gemological Institute of America (GIA), Gubelin Gemological Laboratory, Switzerland, and the Asian Institute of Gemological Sciences (AIGS), Thailand. Additionally, the Millennium Sapphire was recognized in 2001 in the Guinness Book of Records as the largest carved sapphire in the world at 61,500 carats.
World-renowned gemologists have commented extensively on the Millennium Sapphire. "This crystal is the largest single piece of gem-quality sapphire that I know of. It is very rare to see such a large piece of such good color," said Marcus McCallum, FGA, London. Garry Du Toit, now with the GIA, Bangkok said, "It is definitely gem grade sapphire, a fine gem blue color. Other famous blue sapphires can not compare in terms of size, weight, and quite possibly color". And finally, Christian Dunaigre, formerly with the Gubelin Gemological Laboratory, Switzerland said, "This sapphire is everyone's dream".
In their report of 13 November 2000, Gubelin staff members Christopher P. Smith and Nicole Surdez commented: The Millennium Sapphire was an "ornately carved gem" and a "striking art object".
The Millennium Sapphire was a multi-year design and carving project directed by Italian artist and designer Alessio Boschi. Boschi's designs have been widely published and his art displayed in internationally respected venues such as the Metropolitan Museum of Art, New York, and he has won several international jewelry design competitions in Hong Kong, New York, Beijing, Madrid, and London, including awards sponsored by Chopard and Charles Perroud S.A.
Boschi's inspiration for the Millennium Sapphire was to sculpt a tribute to the creative genius of humanity. Starting from a base of human figures supporting the four doors of air, water, earth and fire, the sapphire takes us on an upward winding spiral helix through history depicting over 134 figures representing the high points of man's achievements over the last 5000 years including the Pyramids of Giza, Confucius, Archimedes, the Great Wall of China, Julius Caesar, Mayan hieroglyphic writing, Leonardo da Vinci, Christopher Columbus, Michelangelo, Galileo, Newton, Bach, Mozart, Beethoven, Benjamin Franklin, Pasteur, Monet, Edison, Einstein, Charlie Chaplin, Louis Armstrong, Gandhi, Neil Armstrong, Mother Teresa and a host of others.
The Sapphire Sea, by John Robinson, a fictional novel, published in November 2003 was inspired by the discovery of the then-unnamed Millennium Sapphire.
About the Millennium Fine Art business
GRNQ plans to take the Millennium Sapphire on a world tour of museums as well as to develop a virtual reality platform including sales and live art auctions. CEO CK Lee said, "We are negotiating to acquire an art gallery business and we intend to retain leading art and promotions experts globally to acquire some of the top art collections and masterpieces for exhibits, promotional events as well as viewing and sales via our online multi-dimensional auction platform."
About Greenpro Capital Corp.
Headquartered in Hong Kong with strategic offices across Asia, Greenpro Capital Corp. (Nasdaq: GRNQ) is a business incubator and multinational conglomerate with a diversified business portfolio comprising finance, technology, banking, CryptoSx for STOs, health and wellness, fine art, etc. With 30 years of experience in various industries, Greenpro has been assisting and supporting businesses and High-Net-Worth-Individuals to capitalize and securitize their value on a global scale through the provision of cross-border business solutions, spinoffs on major stock exchanges and accounting outsourcing services to small and medium-size businesses located in Asia. The comprehensive range of cross-border business services include, but are not limited to, trust and wealth management, listing advisory services, transaction services, cross-border business solutions, record management services, accounting outsourcing services and tax advisory services. We also operate venture capital businesses, including business development for start-ups and high growth companies, covering finance, technology, FinTech, and health and wellness. For further information regarding the Company, please visit http://www.greenprocapital.com.
Forward-Looking Statements This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be canceled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
GRNQ has 58.44 million shares issued with 4.88 million shares in the float.
Gilbert Loke, CFO, director
Greenpro Capital Corp. Email: [email protected]
Phone: +852-3111 7718
Contact Dennis Burns. Investor Relations.
Tel (567) 237-4132
For more information on the Millennium Sapphire please visit:
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SOURCE: Greenpro Capital Corp