Document Security Systems, Inc. (AMEX:DSS) entered into a binding term sheet to acquire HWH World Inc. from Health, Wealth Happiness Pte. Ltd. for $14.8 million on January 6, 2021. Under the terms of the transaction, the consideration will be the lesser of the $14.8 million or the value of HWH World assessed by a third-party valuation company. Upon completion, HWH World Inc. will cease to be a subsidiary of Alset International Limited (Catalist : 40V), parent company of Health, Wealth Happiness Pte. Ltd. Document Security Systems will also have the option to pay the consideration in cash or common shares at the per share price equivalent to the average closing price of the Common Stock for a period of five trading days prior to January 6, 2021. The deal is subject to the due diligence on HWH World, necessary approvals and consents, and the terms and conditions to be set forth in the Definitive Agreement as well as the approval of the Board of Directors of Document Security and Alset International Limited. The completion of the transaction is expected to be within 6 months. W Capital Markets Pte Ltd acted as a financial advisor to Alset International Limited. Alset International Limited intends to utilise the net proceeds from the disposal for general corporate and working capital purposes.