WENZHOU, China, Nov. 9, 2020
/PRNewswire/ -- ZK International Group Co.,
Ltd. (ZKIN) ("ZK International" or the
"Company"), today announced that its subsidiary, xSigma
Corporation ("xSigma"), have signed a letter of intent ("LOI") with
Dentoro Alliance LP ("Dentoro"). Pursuant to the LOI, Dentoro
proposes to earn 49% of xSigma's equity interest and to form a
partnership with xSigma to build solutions that would add value in
logistics, IoT, infrastructure, and in Company's supply chain
management. In the hopes of leveraging the ever evolving blockchain
technologies being developed world-wide, the Company believes that
Dentoro's experience could help the Company develop its own R&D
Lab made up of world-class software developers.
The Company's mission is to spearhead the adoption of
decentralized technologies by researching, analyzing, and testing
innovative concepts and use cases. By finding new ways to utilize
the blockchain, xSigma will look at revolutionizing traditional
industries and making financial tools more accessible. The goal is
to build a product ecosystem that realizes the true potential of
blockchain in promoting open access and financial inclusion
world-wide.
ZK International launched xSigma as a research and development
lab back in 2018 to solve real-world infrastructure challenges. Its
mandate was to explore new opportunities in smart contracts, supply
chain management and other blockchain-based solutions.
The Company's Chairman, Mr. Huang stated, "the Company will look
at recruiting the brightest minds from the blockchain arena to its
xSigma research lab. The aim is to have the lab run by a
world-class team of developers. At xSigma we are excited
about assembling a team that are on the leading edge of blockchain
research and development that intersects decentralized finance,
supply chain management, IoT, and infrastructure. We are planning
on announcing new applications and solutions in the near
future."
About ZK International Group Co., Ltd.
ZK International Group Co., Ltd. is a China-based designer,
engineer, manufacturer, and supplier of patented high-performance
stainless steel and carbon steel pipe products that require
sophisticated water or gas pipeline systems. The Company owns 33
patents, 21 trademarks, 2 Technical Achievement Awards, and 10
National and Industry Standard Awards. ZK International is Quality
Management System Certified (ISO9001), Environmental Management
System Certified (ISO1401), and a National Industrial Stainless
Steel Production Licensee that is focused on supplying steel piping
for the multi-billion dollar industries of Gas and Water sectors.
ZK has supplied stainless steel pipelines for over 2,000
projects, including the Beijing National Airport, the "Water Cube",
and "Bird's Nest", which were venues for the 2008 Beijing
Olympics. Emphasizing superior properties and durability of
its steel piping, ZK International is providing a solution for the
delivery of high quality, highly sustainable, environmentally sound
drinkable water not only to the China market but also to
international markets such as Europe, East Asia,
and Southeast Asia.
For more information please
visit www.ZKInternationalGroup.com. Additionally,
please follow the Company
on Twitter, Facebook, YouTube,
and Weibo. For further information on the Company's SEC
filings please visit www.sec.gov.
About XSigma
Corporation
XSigma Corporation, is a
wholly-owned subsidiary of ZK International Group Co., Ltd.
Together with ZK International, has launched xSigma as a research
and development lab back in 2018 to solve real-world infrastructure
challenges. Its mandate was to explore new opportunities in smart
contracts, supply chain management and other blockchain-based
solutions.
Safe Harbor Statement
This news 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, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. Without limiting the generality of the
foregoing, words such as "may," "will," "expect," "believe,"
"anticipate," "intend," "could," "estimate" or "continue" or the
negative or other variations thereof or comparable terminology are
intended to identify forward-looking statements. In addition, any
statements that refer to expectations, projections or other
characterizations of future events or circumstances are
forward-looking statements. These forward-looking statements are
not guarantee of future performance and are subject to certain
risks, uncertainties, and assumptions that are difficult to predict
and many of which are beyond the control of ZK International.
Actual results may differ from those projected in the
forward-looking statements due to risks and uncertainties, as well
as other risk factors that are included in the Company's filings
with the U.S. Securities and Exchange Commission. Although ZK
International believes that the assumptions underlying the
forward-looking statements are reasonable, any of the assumptions
could prove inaccurate and, therefore, there can be no assurance
that the results contemplated in forward-looking statements will be
realized. In light of the significant uncertainties inherent
in the forward-looking information included herein, the inclusion
of such information should not be regarded as a representation by
ZK International or any other person that their objectives or plans
will be achieved. ZK International does not undertake any
obligation to revise the forward-looking statements contained
herein to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events.
Investor Contact:
Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386
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SOURCE ZK International Group Co., Ltd.