Elray Resources Inc. has announced a significant milestone in the company’s growth strategy.
The company has completed the sale of proprietary technology to 180 Life Sciences Corp. (NASDAQ:ATNF), a NASDAQ-listed company in exchange for preferred stock convertible into a 40% stake in ATNF and warrants to purchase 3 million shares of ATNF common stock, the conversion/exercise of which is subject to stockholder approval. The technology stack contained within Elray’s technology package will assist ATNF in launching an iGaming Blockchain casino.
“This strategic sale and potential future partnership are expected to enhance Elray’s financial position, support future innovation and open new opportunities and revenue streams for the company. This will not only strengthen our balance sheet considerably, but also will enable ATNF and Elray to collaborate with leading players in the market. We look forward to announcing relationships with new operators, which will deliver even greater value to shareholders and propel our business forward,” said Vincent Cai, CTO of Elray Resources.
