Bittnet Systems S.A. informs the shareholders about the successful conclusion of the negotiations for the takeover of Gecad Net SRL, and signing the selling – purchase agreement, according to the mandate given to the sole administrator by the EGSM resolution no. 6 from 26th April 2017. The process will have 2 stages. In the first stage, Bittnet will take part in the capital increase of Gecad Net SRL. The Company intends to undertake a private placement of a corporate bonds issue to finance the acquisition of all Gecad shares in the second stage. The estimated closing date for this transaction is September 30, 2017.