HUALE ACOUSTICS CORPORATION March 19, 2019Memorandum of Understanding • March 21st, 2019 • HUALE ACOUSTICS Corp • Services-business services, nec • Nevada
This Memorandum of Understanding is intended to set forth the basic terms and conditions under which the shareholders of HUALE GROUP CO., LIMITED (“HGL” and “Purchasers”), a Seychelles private company limited by shares, and Huale Acoustics Corporation (“HAC” and “Seller”), a Nevada company, collectively known as the “Parties,” intend to enter into a Definitive Agreement, containing the deal points and such other provisions, conditions, representations and warranties, covenants and indemnities as are normal and customary for a Definitive Share Exchange Agreement, under which the shareholders of HGL shall exchange all of the shares that they own in HGL for not less than 90 percent of the shares of HAC’s common stock and shall appoint a new Board of Directors of HAC. The consummation of the exchange transaction under which HAC will acquire 100% of the equity ownership of HGL shall be referred to as the “Transaction.”
