SHANGHAI, May 21, 2019 /PRNewswire/ -- JMU Limited (the
"Company" or "JMU") (Nasdaq:
JMU), a B2B online e-commerce platform
that provides integrated services to suppliers and customers in the
foodservice industry in China,
today announced that the Company has acquired Unicorn Investment
Limited ("Unicorn"). Pursuant to a share purchase agreement, on
May 21, 2019, JMU purchased all the issued and outstanding shares
of Unicorn from its shareholder for the consideration of
632,660,858 newly issued ordinary shares of JMU.
Unicorn is a developer of asset transaction platform products
based on blockchain technologies. The former shareholder of Unicorn
and the seller in the acquisition, Mr. Haohan Xu, is a principal shareholder of the
Company. Mr. Xu held 25.7% of all the issued and outstanding shares
of the Company immediately prior to the closing of the acquisition,
and will hold approximately 48.0% of all the issued and outstanding
shares of the Company immediately after the closing of the
acquisition.
JMU is acquiring Unicorn to meet the
emerging demands of blockchain technology-based transactions.
About JMU Limited
JMU Limited is a B2B e-commerce platform that provides
integrated services to suppliers and customers in the foodservice
industry in China. For more
information, please visit: http://ir.ccjmu.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbour" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"aim," "anticipate," "believe," "estimate," "expect," "going
forward," "intend," "ought to," "plan," "project," "potential,"
"seek," "may," "might," "can," "could," "will," "would," "shall,"
"should," "is likely to," and the negative form of these words and
other similar expressions. Among other things, statements that are
not historical facts, including statements about JMU's beliefs and expectations, the business
outlook and quotations from management in this announcement, as
well as JMU's strategic and operational
plans, are or contain forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: The general economic and business
conditions in China may
deteriorate. The growth of Internet and mobile user population in
China might not be as strong as
expected. JMU's plan to enhance
customer experience, upgrade infrastructure and increase service
offerings might not be well received. JMU might not be able to implement all of its
strategic plans as expected. Competition in China may intensify further. All information
provided in this press release is as of the date of this press
release and are based on assumptions that we believe to be
reasonable as of this date, and JMU
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
Contact:
Luna Zhang
JMU Limited
zhangluna@ccjmu.com
Tel: +86 (021) 6015-1166, ext. 8904
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SOURCE JMU Ltd