COINOTAG News reported Sept. 16 that GD Culture Group Limited (Nasdaq: GDC) has executed a share exchange agreement with Pallas Capital Holding Ltd. to acquire all issued and outstanding ordinary shares of Pallas Capital, a company registered in the British Virgin Islands, according to a GlobeNewswire filing.

Per the filing, upon completion GD Culture Group will issue 39,189,344 common shares and acquire Pallas Capital’s assets, including 7,500 Bitcoins (BTC), which are to be transferred free of any debt or encumbrances. The disclosure outlines the principal transactional terms and the contemplated share consideration.