500 Com appoints new top executives and enters share subscription agreement

500 Com’s board of directors has proposed to explore business opportunities in the blockchain and cryptocurrency industries based on some success experience of its associate, Loto Interactive Limited. In this context, the board has appointed Xianfeng Yang as the Chief Executive Officer and Bo Yu as the Chief Operating Officer. Also, 500 Com has announced that it has entered into a definitive share subscription agreement with Good Luck Information Technology, a company incorporated in Hong Kong, for the issuance and sale of newly issued Class A ordinary shares of the company.

500.com Limited Announces Private Placement and Appointment of New Officers (filing)