BEIJING, March 11, 2019 /PRNewswire/ -- AGM Group Holdings
Inc. ("AGM" or the "Company") (NASDAQ: AGMH), a financial
technology ("FinTech") company providing trading platform solutions
and enabling technologies for brokerage firms and other financial
institutions, today announced that its wholly owned subsidiary,
Shenzhen AnGaoMeng Financial Technology Service Co., Ltd., has
entered into a letter of intent agreement to acquire 100% equity
interest in Yushu Kingo City Real Estate Development Co., Ltd.
("Kingo City").
Established in December 2013 with
registered capital of RMB 30 million,
Kingo City is a licensed real estate development and property
management company based in Yushu City, Jilin Province, China. Kingo City is currently developing a
commercial complex located at the intersection of Xinmin and
Xiangyang Streets in Yushu City (the "Development Project"). Phase
I of the Development Project is expected to be completed in
October 2019 with total construction
area of 120,000 square meters (approximately 1.29 million square
feet) and property market value of approximately RMB 1.2 billion upon completion.
The proposed transaction is subject to a definitive share
purchase agreement to be negotiated between the two parties,
following further financial and legal reviews and approval of the
Company's Board of Directors, as well as other customary closing
conditions. The Company plans to facilitate the proposed
transaction by issuing new shares and using cash on hand.
About AGM Group Holdings Inc.
Incorporated in April 2015 and
headquartered in Beijing, China,
AGM Group Holdings Inc. is an emerging financial technology
("FinTech") company focusing on delivering innovative trading
platform solutions and enhancing technologies for brokerage firms
and other financial institutions. For more information, please
visit www.agmgroup.com.
Forward Looking Statements
This news release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in 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" and similar
statements. All statements other than statements of historical fact
in this press release are forward-looking statements and involve
certain risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements.
These forward-looking statements are based on management's current
expectations, assumptions, estimates and projections about the
Company and the industry in which the Company operates, but involve
a number of unknown risks and uncertainties, Further information
regarding these and other risks is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and actual
results may differ materially from the anticipated results. You are
urged to consider these factors carefully in evaluating the
forward-looking statements contained herein and are cautioned not
to place undue reliance on such forward-looking statements, which
are qualified in their entirety by these cautionary
statements.
For more information, please contact:
At the Company:
Email: DylanChiang@agmboard.com
Investor Relations:
Tony
Tian,
CFA
Weitian Group LLC
Email: ttian@weitianco.com
Phone: +1-732-910-9692
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SOURCE AGM Group Holdings Inc.