SHANGHAI, Jan. 8, 2018 /PRNewswire/ -- The9 Limited (the
"Company" or "The9") (Nasdaq: NCTY), an online game operator, today
announced that it has entered into a definitive agreement with Red
Ace Limited, a company incorporated under the laws of the
British Virgin Islands, for the
issuance and sale of 3,571,429 ordinary shares of the Company, each
with par value US$0.01, to Red Ace
Limited (the "Transaction"). Red Ace Limited will pay for the
consideration with a 29% equity interest in Maxline Holdings
Limited ("Maxline").
Maxline is based in Hong Kong
and is principally engaged in the provision of information
technology infrastructure solutions, website and mobile app design,
maintenance and support services. Maxline is establishing its
business in mainland China. The
Company expects that the investment in Maxline will create
synergies between its business and Maxline's business.
The completion of the Transaction is subject to customary
closing conditions.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "considers" and similar statements.
Statements that are not historical facts, including statements
about The9's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of important factors could cause actual
results to differ materially from those contained in any
forward-looking statement. Potential risks and uncertainties
include, but are not limited to, The9's ability to license, develop
or acquire online games that are appealing to users, The9's ability
to retain existing players and attract new players, The9's ability
to anticipate and adapt to changing consumer preferences and
respond to competitive market conditions, political and economic
policies of the Chinese government, the laws and regulations
governing the online game industry, information disseminated over
the Internet and Internet content providers in China, intensified government regulation of
Internet cafes, and other risks and uncertainties outlined in
The9's filings with the U.S. Securities and Exchange Commission,
including its annual reports on Form 20-F. The9 does not undertake
any obligation to update any forward-looking statement, except as
required under applicable law.
About The9 Limited
The9 Limited is an online game developer and operator in
China. The9 develops and/or
operates, directly or through its affiliates, its proprietary
mobile games and web games, including the CrossFire brand new
shooting mobile game, Audition mobile, Knight Forever, Q Jiang San
Guo and Wildlands God of War.
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SOURCE The9 Limited