Planet Green Holdings Corp. Enters Into Share Exchange Agreement
Planet Green Holdings Corp. (NYSE American: PLAG) announced a Share Exchange Agreement to acquire 30% equity in Xianning Xiangtian Energy Holdings Group for 12 million shares of common stock. This strategic move is aimed at enhancing their LNG production capabilities through the Target's subsidiary, which operates LNG production facilities. The transaction is subject to customary closing conditions.
Forward-looking statements indicate potential risks and uncertainties, emphasizing the importance of due diligence.
- Acquisition of 30% equity in Xianning Xiangtian Energy Holdings enhances LNG production capabilities.
- Issuance of 12 million shares may strengthen strategic partnerships.
- Issuing 12 million shares could lead to shareholder dilution.
- Transaction is subject to customary closing conditions, introducing uncertainty.
NEW YORK, July 15, 2022 /PRNewswire/ -- Planet Green Holdings Corp. (the "Company") (NYSE American: PLAG) announced today that on July 15, 2022, the Company has entered into a Share Exchange Agreement with Xianning Xiangtian Energy Holdings Group Co., Ltd. ("Target") and the shareholder of the Target (the "Seller"). Pursuant to the Share Exchange Agreement, the Company will acquire
Pursuant to the Share Exchange Agreement, the company will issue 12,000,000 shares of common stock of the Company to the Sellers in exchange for the transfer of
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on our management's current expectations and beliefs, as well as a number of assumptions concerning future events.
Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in our reports filed with the Securities and Exchange Commission, which are available, free of charge, on the SEC's website at www.sec.gov.
For more information please contact: |
Ms. Lili Hu Chief Financial Officer Phone: 718 799 0380 |
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SOURCE Planet Green Holdings Corp.
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