CHIF to Rebrand as Part of Esports Business Direction

London, UK, March 22, 2022 (GLOBE NEWSWIRE) -- China Food and Beverage Company (OTC Pink: CHIF), an Esports and Blockchain Consortium Venture company, today announced the appointment of Bitmart Cryptocurrency Exchange Managing Partner, Mr. Yuen Wong, as the Company's Chairman of the Board of Directors effective immediately. BitMart is a premier global digital asset trading platform with over 5.5 million users worldwide and ranked among the top crypto exchanges according to CoinGecko. BitMart currently offers 600+ trading pairs with one of the lowest trading fees in the market. Bitmart's platform supports over 220 cryptocurrencies and has a 24-hour trading volume of approximately $1.5 Billion according to coinmarketcap.com Mr. Wong is also a partner at leading global investment banking firm Silverbear Capital .

CHIF further announced its plans to rebrand as part of its entrance into the Esports arena. Part of the rebranding will include a name change. Additional details will be announced shortly.

CHIF management believes the timing of Mr. Wong's appointment is right, as the Company embarks on its new direction into the massive Esport arena. The global Esport market revenue was valued at just over $1 billion in 2021 and is being projected to grow 400% in the next seven years to an estimated $4.28 billion by 2027.

As a tech-savvy blockchain enthusiast, Mr. Wong also acts as an advisor to many successful blockchain projects. He is the CEO of LABS Group Limited the world's first end to end Blockchain powered real estate digital investment platform that provides access to fractionalized property and business ownership. LABS is taking a proactive role in spearheading the Esports hotel business, and capitalizing on the current GameFi and Metaverse trend.

Mr. Wong also works as a strategic partner with Arena Esports Hotel , and has assisted by tokenizing the properties and offering them on LABS crowdfunding platform. The first project is located at Bugis Village, Singapore, which is the largest Esports hotel in Southeast Asia and the world's first hotel with VR concepts. The plan is to expand to 50 locations through the partnership and franchise model in 3-5 years and reach over 2,733,000 people in-residence. Arena Esports Hotel is currently expanding in Southeast Asia, targeting Cambodia, Malaysia and Vietnam.

Mr. Wong currently serves as a co-founder GEMS an Esports 3.0 aggregator platform within the online and offline communities. It propels Esports into 3.0 by integrating GameFi, Mataverse and SocialFi elements, and leverages on Arena Esports Hotels, in order to integrate the young population into the new sharing economy.

Jeff Au, CEO of CHIF and a partner at Silverbear Capital stated, "I am delighted to welcome Mr. Yuen Wong as the new Chairman of CHIF and I am certain that all of our loyal shareholders are equally excited. Mr. Wong is a true industry pioneer in Blockchain and Esports.  In 2022, we have a series of strategic plans for CHIF, both in rebranding and business initiatives.  Please stay tuned for further announcements."

Mr. Yuen Wong, Chairman of CHIF stated, "I'm honored to assume the role of Chairman at CHIF. I will assist in overseeing corporate governance and corporate strategy. We have plans to rebrand the company to better suit the direction of our strategy and we will announce more details in the weeks to come. I will bring along my knowledge, network and experience to ensure that CHIF is a powerhouse in Esports and gaming. We will achieve that together with your support."

Silverbear Capital Inc. a leading global investment banking and advisory firm, will be advising NSAV on strategic matters related to this transaction.

Silverbear Capital Inc. (SBC) has a dynamic of disciplines on a broad commercial level and practice. SBC has a strong group of Partners in a wide range of disciplines with seasoned experience in finance, management, and professional practice.

Disclaimer: Silverbear Capital Inc. does not constitute investment advice, or an offer or solicitation to sell, or a solicitation to buy, or any other investment product (nor shall any such shares or product be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction.

CHIF's vision is the establishment of a fully integrated technology company that provides turnkey technological solutions to the Esport, Cryptocurrency, Blockchain and Digital Asset industries. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, advisory services, financial services and information technology.

For further information please contact CHIF at info@chiftech.com

The CHIF Twitter account can be accessed at 

This press release contains certain 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of China Food and Beverage Company to accomplish its stated plan of business. China Food and Beverage Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by China Food and Beverage Company or any other person.

Contact
China Food and Beverage Company
info@chiftech.com