XI'AN, China, March 4, 2020 /PRNewswire/ -- Future FinTech
Group Inc. (NASDAQ: FTFT; the "Company"), a company engages in
blockchain based e-commerce, today announced that the Company has
completed the sale of HeDeTang Holdings (HK) Ltd. ("HeDeTang HK")
to New Continent International Co., Ltd., a company incorporated in
the British Virgin Islands (the
"Sale Transaction") on February 27,
2020.
As previously disclosed, on December 17, 2019, the Company
received a notification letter from the NASDAQ Listing
Qualification Staff ("Staff") stating that the Staff had determined
to grant the Company an extension of time to regain compliance with
the NASDAQ Listing Rule (the "Rule"), and the terms of the
extension were that the Company must have obtained shareholder
approval and completed the Sale Transaction on or before
February 28, 2020.
On February 28, 2020, the Company
notified the Staff that it had obtained shareholder approval and
completed the Sale Transaction on or before February 28, 2020.
About Future FinTech Group Inc.
Future FinTech Group Inc. ("Future FinTech", "FTFT" or the
"Company") is incorporated in Florida and engages in blockchain based
e-commerce business. The Company engages in the operation of a
blockchain based online shared shopping mall platform and also
operates an incubator for application projects using blockchain
technology. FTFT and its subsidiaries are developing blockchain
technology for a variety of B2B and B2C real-life applications
including the distribution, marketing and sale of consumer
products. The Company is also developing financial technology
business to stay ahead of the changing industry. 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 the 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.