Readen Holding Corporation (OTC: RHCO), a Venture Capital Corporation, active in the Fintech, Online Payment and E-commerce industries, today announced the sale of its wholly-owned subsidiary, Netherlands based, Dutch Grow Labs, for Euro 600,000. to a privately-held Dutch corporation.
Dutch Grow Labs ( www.dutchgrowlabs.com ) is an online retail store which sells CBD products in the European market. RHCO started the business in 2017, in order to expand its E-commerce business. The decision to sell the company is part of RHCO’s strategic move to be more focused on OkeApp and OkePay, its revolutionary super app and comprehensive back-end Payment Platform. The transaction also accounted for a sizable profit for RHCO.
Earlier this month RHCO announced that the Company had filed its financial statements for the year ending June 30, 2021 with OTC Markets Disclosure & News Service. RHCO reported an increase in Revenues of 42% compared to 2020. The Company’s Net Profit also increased by 374% and Net Assets saw an increase of 2919%.
The Annual Report also included the recently completed share buyback program, in which RHCO had repurchased 29,200,000 shares of its Common Stock. The Company’s filings also stated several major acquisitions and product launches, including the acquisition of OkePay New Zealand, the launch of its proprietary e-Voucher READIES, the acquisition of French real estate company Quentin Societe, with prime real estate alongside the historic Rhone River and the acquisition of shares in Tianrong Medical Group, Inc. (OTC: TNMD).
Readen Holding Corp. is a publicly traded Venture Capital Corporation, with major holdings in the Fintech Industry and has been increasing its investment in E-commerce and E-payment sectors, such as;
In addition, RHCO is a Hong Kong-based publicly traded investment company, with an operating history now spanning nearly 70 years. Its focus is to seek opportunities to acquire and grow businesses to generate sustainable cash flow and attractive returns over the long term, creating value for its shareholders. Readen Holding Corporation has subsidiaries and liaison offices in Europe and Asia.
For further information please contact RHCO at info@readenholdingcorp.com or +852 3950 5911
The RHCO corporate email address is info@readenholdingcorp.com
The RHCO corporate website can be accessed at www.readenholdingcorp.com
The RHCO Twitter account can be accessed at https://twitter.com/readenrhco
This press release contains certain 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Readen Holding Corp. to accomplish its stated plan of business. Readen Holding Corp. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Readen Holding Corp. or any other person.
Contact
Readen Holding Corp.
+852 3950 5911