XI'AN, China, March 26,
2020 /PRNewswire/ -- Future FinTech Group Inc. (NASDAQ: FTFT)
("Future FinTech", "FTFT" or "the Company"), announced today that
the Company, through its wholly-owned subsidiary Future FinTech
(Hong Kong) Limited, entered into
an equity acquisition frame agreement (the "Agreement") with
Joyrich Enterprises Limited ("Joyrich") on March 26, 2020. Pursuant to the Agreement, the
Company plans to acquire no less than 51% equity interest of Nice
Talent Asset Management Limited ("NTAM"), a legal entity organized
under the laws of Hong Kong. The
Agreement is non-binding except for the "Confidentiality and
Exclusivity" and "Applicable Law and Dispute Resolution" sections
of the Agreement.
Owned by Joyrich Enterprises Limited, Nice Talent Asset
Management Limited was founded in 2018 and is licensed under the
Securities and Futures Commission of Hong
Kong (SFC) for carrying out regulated activities in
"Advising on Securities" and "Asset Management". NTAM's main
services include asset management and investment advisory.
According to the Agreement, the Company will select qualified law
firm and accounting firm to conduct formal due diligence on NTAM
and then the parties will discuss and determine the final purchase
price and definitive purchase agreement.
"NTAM has a professional asset management team, a reliable
partner network, mature market channels and customer resources,"
said Mr. Shanchun Huang, Chief
Executive Officer of Future FinTech. "Completing this acquisition
in Hong Kong will allow FTFT to
quickly enter the field of modern boutique financial services and
better provide asset management and investment consulting services
for SMEs in Hong Kong, one of the
financial centers in Asia. We
believe the acquisition will bring additional revenues for the
Company and further expand our financial technology and boutique
financial service business."
"FTFT will continue to develop its business and cooperate with
firms in the field of boutique financial services, and will
actively seek opportunities in the projects with strong
profitability and broad prospects to strengthen FTFT's business in
blockchain e-commerce, digital technology and applications, fintech
and boutique financial service," Mr. Huang added.
About Future FinTech Group Inc.
Future FinTech Group Inc. ("Future FinTech", "FTFT" or the
"Company") is a leading blockchain technology R&D and
application company incorporated in Florida. The operation of
the Company includes a blockchain based online shopping mall
platform, Chain Cloud Mall ("CCM"), an incubator for blockchain
based application projects and a digital payment system
"DCON". The Company is also engaged in development of
blockchain based e-Commerce technology as well as financial
technology. For more information, please visit
http://www.ftft.top/.
Safe Harbor Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended, or the
Exchange Act. Forward-looking statements include statements with
respect to our beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance, and involve known and unknown risks, uncertainties and
other factors, which may be beyond our control, and which may cause
the actual results, performance, capital, ownership or achievements
of the Company to be materially different from future results,
performance or achievements expressed or implied by such
forward-looking statements. All statements other than statements of
historical fact are statements that could be forward-looking
statements. You can identify these forward-looking statements
through our use of words such as "may," "will," "anticipate,"
"assume," "should," "indicate," "would," "believe," "contemplate,"
"expect," "estimate," "continue," "plan," "point to," "project,"
"could," "intend," "target" and other similar words and expressions
of the future.
All written or oral forward-looking statements attributable to
us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 10-K for the
year ended December 31, 2018 and our
other reports and filings with SEC. Such reports are available upon
request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website at
http://www.sec.gov. We have no obligation and do not undertake to
update, revise or correct any of the forward-looking statements
after the date hereof, or after the respective dates on which any
such statements otherwise are made.
IR Contact:
Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803
Email: ftft@dgipl.com
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SOURCE Future FinTech Group Inc.