Business
Jialijia Group Corp Ltd. Announces Letter of Intent to Acquire Changshan County Juli Logistics Co., Ltd.
Jialijia Group Corp Ltd. Announces Letter of Intent to Acquire Changshan County Juli Logistics Co., Ltd..
About this update from Jialijia Group Corporation, Ltd.
[{"type":"text","content":"\n Changzhou, China, April 13, 2020 (GLOBE NEWSWIRE) -- Jialijia Group Corp Ltd. (“Jialijia” or the “Company”) (OTC: RZZN) is pleased to announce that it has entered into a non-binding letter of intent (“LOI”) dated April 9, 2020 with Changshan County Juli Logistics Co., Ltd. (“Juli”) pursuant to which the shareholders of Juli will transfer all of their shares to the Company and resulting in Juli becoming a wholly-owned subsidiary of the Company (the “Transaction”). The final structure of the Transaction will be determined by the parties following the valuation of Juli from a third party agency. The Transaction is an arm’s length transaction and pursuant to the terms of the LOI the parties intend to sign a definitive agreement (the “Definitive Agreement”) in respect of the Transaction within three (3) months of the LOI. Under the terms of the LOI, all of the issued and outstanding common stock of Juli (the “Juli Shares”) will be exchanged for common shares in the capital of the Company. Completion of the Transaction is subject to a number of conditions, including but not limited to the following key conditions: execution of the Definitive Agreement;completion of mutually satisfactory due diligence; andreceipt of all required regulatory, corporate and third party approvals, including the approval of the stockholders of Juli and the fulfillment of all applicable regulatory requirements and conditions necessary to complete the Transaction. About Jialijia The Company is engaged in the production and sale of gases for industrial and medical purposes, such as oxygen and nitrogen, in the PRC. The Company is in the process of improving its facilities and has not commenced its gas production or generated any revenues. Forward-Looking Information This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as “plans”, “ expects” or ...