Global Energy Resources International (08192) has announced that it will sell the entire share capital of its carbon trading platform for an amount of RMB 50 million and has received a total settlement of RMB 91,240,900 virtual currency XPA.
XPA is currently a cryptocurrency based on the Blockchain technology of the Ethereum platform, which can be traded on the open market and can be redeemed for Ethereum and other stable cryptocurrencies.
The Group stated that the 91,240,000 XPAs that were received as a full fee for the compensation will be immediately converted into Ethereum Cash through the platform transaction.
Upon completion, the carbon trading platform will dispense with its shareholder loan of approximately $ 190 million. The Group expects to sell a confirmed loss of approximately 24.2 million yuan.