Description of the TransactionDragon Jade International LTD • August 15th, 2019 • Retail-drug stores and proprietary stores
On October 9, 2018, the Company entered into a Share Sale and Purchase Agreement on October 3, 2018 (the “Purchase Agreement”) pursuant to which Dragon Jade International Limited (“DJIL”, “Dragon Jade”) was the legal and accounting acquirer, agreed to purchase 100% issued and outstanding share capital of Montrose Food & Wine H.K. Limited (“Montrose HK”) which was the legal and accounting acquiree, with a total consideration of $616,410 of which $256,410 (HK$2 million) paid in cash and $360,000 paid in 100,000 DJIL common stock with fair value at $3.60 per share as of December 31, 2018.
