GigWorld Inc. entered into a securities purchase agreement to acquire 18% stake in Value Exchange International, Inc. (OTCPK:VEII) on April 8, 2021. Under the terms of transaction, GigWorld Inc. will acquire 6.5 million shares as purchase price of $0.65 million. The Shares were purchased for investment purposes for GIG's own account.

VEII intends to use the net proceeds from the sale of the Shares for general working capital.