IRVINE, CA, Feb. 21, 2018 (GLOBE NEWSWIRE) -- Signature Devices, Inc. (OTC PINK: SDVI) today announced that it has successfully completed the sale of its subsidiary, Graffiti Entertainment to Azure Holding Group Inc.
The terms of the deal were announced last week. “Both companies were motivated to quickly close the deal to allow for a smooth transition of assets and resources,” said Inas Azzam, CEO and President of Signature Devices. He went on to say, “This deal allows Signature to partner with Azure to launch an Artificial Intelligence cryptocurrency that can be used in a broad spectrum of applications including, IoT devices, Video Games, Advertising and more.”
Signature Devices will hold 21% of voting rights as well as free trading shares in Azure Holding Group Inc. The Graffiti assets will enable Azure Holding Group Inc. to integrate a lucrative gaming business and advertising, leveraging blockchain technologies and Artificial Intelligence cryptocurrency monetization.
As part of the deal, Graffiti Shareholders will also receive free trading shares in exchange for their current shares. The two companies will work together to complete the share swap in the next 60-90 days.
In the completed deal, each Graffiti shareholder will receive shares in Azure Holding Group Inc., a publicly traded company. The purchase agreement calls for an exchange of one Azure Holding Group Corp share for one Graffiti Entertainment share (the "Purchase Price"). Signature Devices ("SDVI") will receive shares of Azure Holding Group through its current holdings of Graffiti Shares.
You can also follow the company on Twitter for small updates and announcements, https://twitter.com/SignatureDevice
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About Signature Devices, Inc.
Based in Sheridan, Wyoming, Signature Devices, Inc. (www.signaturedevices.com) (OTC PINK: SDVI) is a holding company with subsidiaries that develop Internet of Things (IOT) products through its subsidiary Innovo Technologies, Inc., and publishes diverse media products including video games and mobile applications through its subsidiary Graffiti Entertainment, Inc.
The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.
Source:Signature Devices, Inc.