NEW YORK, July 14, 2017 /PRNewswire/ -- Wecast Network,
Inc. (NASDAQ: WCST) ("Wecast" or the "Company"), announced today
that the Company's new corporate name, Seven Stars Cloud Group,
Inc. will officially be effective Monday,
July 17, 2017.
Additionally, effective Monday July 17,
2017, upon the market's open, the Company's common shares
will continue trading on the Nasdaq Stock Market under its new
trading symbol, "SSC" with no change to the Company's share
structure.
Outstanding stock certificates will not be affected by the name
change and will not need to be exchanged. All stock trading,
filings and market-related information will be reported under the
new corporate name and trading symbol.
As stated by CEO Bing Yang in June, "While a corporate name
change has already recently occurred, the recent dynamic shift in
corporate strategy that the company has undergone since that time,
requires a name that will more accurately reflect the Company's new
strategy and business. The Company selected a name that could
better encompass and further establish its identity in the industry
and to more accurately represent its portfolio of cloud-based
solutions and services aimed at Chinese and global businesses and
enterprises. Even more, the new name both references and
will benefit from the established goodwill and brand recognition
from our Chairman Bruno Wu's Sun Seven Stars Media Group
conglomerate, one of the biggest private media and investment
companies in Asia."
About Wecast Network, Inc.
(http://corporate.wecastnetworkinc.com)
Wecast Network (NASDAQ: WCST) is aiming to be the leading
provider of total B2B business solutions for today's constantly
evolving business landscape. With a focus on 'BASE'
technology and infrastructure (Blockchain, Artificial Intelligence,
Supply Chain & Exchanges) to power our V PaaS (Virtual Platform
as a Service), WCST is creating a closed trade ecosystem for buyers
and sellers designed to eliminate supply chain and transactional
middlemen and create a more direct and margin-expanding trading
path for principals. WCST is applying BASE + V PaaS to focus
on 3 Core Cloud Areas: I. Brand, Content & Intellectual
Property Cloud; II. Product Sales Cloud; III. Transactional Finance
Product Cloud. With the three clouds functioning both
independently and interdependently, Wecast is creating a vertical,
transactional and flexible platform for today's global
enterprises.
The Company's mission and vision is to be the world's leading
cloud-based, total B2B enterprise solution & platform provider
that empowers businesses to grow with Big Data technology.
Safe Harbor Statement
This press release contains certain statements that may
include "forward looking statements." All statements other than
statements of historical fact included herein are "forward-looking
statements." These forward looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website (http://www.sec.gov). All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
CONTACT:
Jason
Finkelstein
Wecast Network,
Inc.
212-206-1216
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SOURCE Wecast Network, Inc.