XIAMEN, China, May 22, 2024 (GLOBE NEWSWIRE) -- Blue Hat Interactive Entertainment Technology (“Blue Hat” or the “Company”) (NASDAQ: BHAT) today announced that it has entered into a Letter of Intent (the “LOI”) to acquire GTC Multi Trading DMCC ("GTCM"), a financial technology company registered in the United Arab Emirates. According to the LOI, BHAT plans to acquire, through multiple rounds, an aggregate of 60% of the shares of GTCM through the issuance of ordinary shares. The transaction represents a significant milestone for BHAT in the global fintech sector, especially in the innovative realm of artificial intelligence (AI)-assisted trading of gold and other precious metals and financial derivatives.

Mr. Chen Xiaodong, Chief Executive Officer of BHAT, commented, "This partnership signifies a pivotal shift in our company's strategy towards the fintech sector and represents a significant milestone in our integration of AI technology innovation with financial services. The acquisition of GTCM marks the initial phase of our collaboration following the framework cooperation agreement with GTC Group LLC. We remain committed to further exploring AI applications in the financial industry, propelling our services and products towards an AI-driven future."

Mr. Zheng, the founder of GTCM, shared his positive outlook on the partnership, stating, "We are thrilled to embark on this significant partnership with BHAT. This collaboration will empower us to leverage the full potential of AI technology, achieving breakthroughs not only in financial transactions but also in customer service and product innovation. We look forward to working together with BHAT to develop a new era of AI-driven fintech solutions through this partnership."

The partnership is anticipated to yield a significant breakthrough for BHAT in AI-driven financial services, paving the way for innovative service models and fostering growth potential within the fintech industry.

About Blue Hat

Blue Hat was formerly a provider of communication services and IDC business, as well as a producer, developer, and operator of AR interactive entertainment games, toys, and educational materials in China. Leveraging years of technological accumulation and unique patented technology, Blue Hat is expanding its business to commodity trading, aiming to become a leading intelligent commodity trader worldwide. For more information, please visit the Company’s investor relations website at https://ir.bluehatgroup.com. The Company routinely provides important information on its website.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in its forward-looking statements.

Contacts:

Blue Hat Interactive Entertainment Technology

Phone: +86 (592) 228-0010

Email: [email protected]