Ciao Group, Inc. (USOTC: CIAU) today announced further details on an Initial Currency Offering (ICO) planned for later this year. The Company plans to introduce an Investment Token backed by stocks of publicly traded companies listed on African country exchanges that collectively make up USD$530 billion in market capitalization. Funds raised in the ICO will be utilized to facilitate dual listings of African public companies in the United States. The Ciao African Investment Token will be backed by stock of African public companies traded in the United States. The planned ICO is an integral part of Ciao’s Blockchain Frontier Markets Project now under development for over a year. Ciao recently announced engaging East African Development Partners, a subsidiary of Restance, Inc. (USOTC: ANCE) to integrate a Blockhain solution for the upcoming Investment Token offering. Ciao recently announced a pilot of its anticipated platform for launching its African Investment Token.
Ciao Group’s Refreshed Business Plan And Name Change To NuMelo Technology
Ciao Group recently announced a refreshed business plan to concentrate on developing locally sourced technology and telecommunication services within frontier and emerging economic markets. The Company is in the process of changing its name to NuMelo Technology as part of the business plan refresh.
Restance East African Development Partners
Restance, through its subsidiary, East African Development Partners is pursuing several business lines in the growing economies of East Africa. The Company is developing opportunities in the region including initiatives in technology and systems integration services, utility support services, affordable housing and health products manufacturing. The Company owns a majority interest in manufacturing equipment being integrated into a health products manufacturing facility currently under development. The Company is also under contract with a Chinese real-estate investment firm to develop real-estate assets in East Africa.
Learn more about Ciao Group / NuMelo Technology on the Company’s website and check back frequently to keep up with the Company’s progress to include two acquisitions anticipated soon. Look for regular updates to the collaboration agreement announced today on the websites of both Ciao Group / NuMelo Technology and Hub Culture.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
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SOURCE Ciao Group, Inc.