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NEW YORK, NY--(July 16, 2019) –XUAN WU INTERNATIONAL GROUP HOLDING COMPANY (OTC PINK: XNWU)(the “Company”) announced a recent corporate development.
On July 11, 2019, the Company accepted $25,000 Chrysalis Management, GmbH, in a Regulation S placement for 2,500 shares of its Class B Preferred Stock stated John Fruhmann, President of the Company. Each share of the Class B Preferred Stock is convertible into 100 shares of common stock, carries a $0.10 quarterly cumulative dividend payable from profits when realized, and are subject to a $10.00 per share mandatory redemption price and liquidation preference.
The funds were used to pay for a portion of the Company’s obligations under the Product Development and License Agreement with NMB Therapeutics, Inc., a related company, pursuant to which development of improved vaping fluids is being conducted.
Legal Disclaimer
This 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 and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management's plans and objectives for future operations. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control.
Contact Information:
Investor Relations
(212) 924-3548
info@pivoassoc.com
