SHANGHAI, May 10, 2019 /PRNewswire/ -- Planet Green
Holdings Corp. (the "Company") (NYSE American: PLAG) announces that
the Company and its wholly owned subsidiary Shanghai Xunyang
Internet Technology Co., Ltd. ("Subsidiary") entered into a Share
Exchange Agreement with Xianning Bozhuang Tea Products Co., Ltd.
("Target") and each of the shareholders of Target (collectively,
"Sellers") on May 9, 2019. Pursuant
to the Share Exchange Agreement, the Subsidiary will acquire all
outstanding equity interests of Target, a company that produces tea
products and sells such products in China.
Pursuant to the Share Exchange Agreement, the Company will issue
an aggregate of 1,080,000 shares of common stock of the Company to
the Sellers in exchange for the transfer of all of the equity
interest of the Target to the Subsidiary. The transaction is
subject to conditions that are customary for transactions of this
type.
Pursuant to the Share Exchange Agreement, as of the closing, the
Company's board of directors will consist of five individuals,
including one person that will be designated by the Target.
For more
information please contact:
|
Mr. Mingze
Yin
Director of Investor
Relations
Phone:+86-21-3258
3578
Email:
Mingze.yin@planetgreenholdings.com
|
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SOURCE Planet Green Holdings Corp.