SportsQuest, Inc. (OTC: SPQS) Targeting Merger and Strategic Partnership with Leading Chinese AI Cinema Chain

Rhea-AI Summary

SPORTS QUEST (SPQS) announces plans for a merger with a leading Chinese AI Theatre Company, highlighting the formation of a Special Purpose Vehicle and new investor relations website.

WEST PALM BEACH, FL / ACCESSWIRE / February 27, 2024 / The Company SPORTS QUEST (OTC PINK:SPQS) www.sports-quest.co (Company) is using this opportunity to bring attention to the Feb 23 2024 OTC filing regarding targeted China based merger candidate, a leading Chinese AI Theatre Company a pioneering force in the cinema industry. (China Cinema)

02/23/2024

Supplemental Information - SPORTS QUEST, INC. (OTC: SPQS) China Based Tech Entertainment Merger Candidate

In concert with this event the Company and the China Cinema firm have launched a new investor relations web site https://huayicinemas.net/ for the benefit of the Company shareholders and followers.

The recent due diligence process led by SportsQuest's management went well and both companies are looking to move further into merger process.. The next steps involve complying with certain merger laws of Mainland China with USA entities as the parent company such as a formation of a Special Purpose Vehicle (SPV). The SPV is well under way for the China Cinema Co and SPQS. This strategic move underscores the commitment of all parties involved to ensure a successful merger process, including SPQS management assistance to date and moving forward. Post merger immediate plans include the appointment of all new officers and Directors, Chairman Mr Zhang .(See BIO at huayicinemas.net) corporate name change to better reflect the Company's activities and resuming the current managements aspirations of SEC compliance to return to being a reporting Company.

A comprehensive Supplementary filing will be filed with OTC Markets shortly (estimated 5 to 10 days) describing the China Cinema developed technologies expansion plans both corporately owned and franchised locations and other material events.

More updates will follow shortly.

Disclosure:

Information in this news release may contain statements about future expectations, plans, prospects or performance of SPQS that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. SPQS caution you that any forward-looking information provided by or on behalf of SPQS are not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind SPQS actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond SPQS control. In addition to those discussed in SPQS press releases, public filings, and statements by SPQS management, including, but not limited to, SPQS' estimate of the sufficiency of its existing capital resources, SPQS ability to raise additional capital to fund future operations, SPQS ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match SPQS capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. SPQS does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events

SPQS Management

Contact info:

Twitter @SpqsOtc
Phone: +1 561 631 9221
Email: ir@sports-quest.co
Web: https://sports-quest.co

SOURCE: SportsQuest, Inc.

View the original press release on accesswire.com

FAQ

What is the latest announcement from SPORTS QUEST (SPQS)?

SPORTS QUEST (SPQS) has revealed plans for a merger with a prominent Chinese AI Theatre Company, along with the launch of a new investor relations website.

What is the significance of the merger for SPORTS QUEST (SPQS) shareholders?

The merger aims to create a strategic partnership with a leading player in the cinema industry, enhancing growth opportunities for SPORTS QUEST (SPQS) and its shareholders.

What is the next step in the merger process for SPORTS QUEST (SPQS) and the China Cinema firm?

The next steps involve compliance with merger laws of Mainland China and the USA, including the formation of a Special Purpose Vehicle (SPV) for both companies.

Who will be appointed as the new Chairman post-merger for SPORTS QUEST (SPQS)?

Mr. Zhang is set to be appointed as the Chairman post-merger for SPORTS QUEST (SPQS), as per the information available at huayicinemas.net.

What are the immediate post-merger plans for SPORTS QUEST (SPQS)?

Immediate plans post-merger include the appointment of new officers and Directors, a corporate name change to reflect activities better, and a focus on SEC compliance to become a reporting Company again.