Trans Global Group Inc. Enters Into Share Exchange Agreement and Completes Acquisition of ZXG Holdin
Trans Global Group Inc. Enters Into Share Exchange Agreement and Completes Acquisition of ZXG Holding Ltd.
AUG 8, 2022 9:29AM EDT
Delaware,Aug. 08, 2022 (GLOBE NEWSWIRE) -- Trans Global Group Inc. (“TGGI” or the “Company”), a U.S. holding company conducting wine distribution and retail sales business via Guangdong, China-based subsidiary Shenzhen Zui Xian Gui Brewery Technology Ltd. (“ZXGSZ”), today announced that the Company entered into a share exchange agreement (the “Agreement”) with ZXG Holdings Ltd. (the “Target”) and Southsea Global Ltd. (the “Seller”) on August 3, 2022. Pursuant to the Agreement, the Company acquired 100% of outstanding equity interests of the Target, which holds famous Chinese favored liquor brand and liquor distribution and sales network assets in China.
Pursuant to the Agreement, the Company issued 1,465,761,689 shares of common stock to the Seller, which was the sole shareholder of the Target. Upon completion of the acquisition onAugust 8, 2022, the Target now becomes a wholly-owned subsidiary of the Company.Mr.Chen Ren, President and Chairman of TGGI, commented: “We are delighted to complete the reorganization of the Company and successfully list our Chinese liquor business via this reverse merger in the U.S. market. Our brand ‘Zui Xian Gui’ is a well-reputed liquor brand with special quality and multi liquor culture. With expanded access to the capital market, we aim to create healthy and good wine belonging to China and the world, creating sustainable value for our consumers and shareholders.”
AboutTrans Global Group Inc.
Trans Global Group Inc.is a U.S. holding company incorporated in Delaware. The Company conducts business through PRC subsidiary Shenzhen Zui Xian Gui Brewery Technology Ltd. (“ZXGSZ”), which is a wine distribution and retail sales company based in Guangdong province, China. With the mission to let the world taste Chinese wine, and let the world fall in love with “ZuiXianGui”. Through the offline and online promotion, TGGI hopes to deepen the customers’ impression of the brand and promote sales in China and globally.
Trans Global Group Inc.签订股份交换协议并完成对ZXG Holding Ltd.的收购。
特拉华州2022年8月8日电（GLOBE NEWSWIRE）--Trans Global Group Inc.（“TGGI”或“公司”）是一家通过中国广东省子公司深圳醉仙归酒坊科技有限公司（“ZXGSZ”）开展酒类分销和零售业务的美国控股公司Trans Global Group Inc.（“TGGI”或“公司”）。今天宣布，公司于2022年8月3日与ZXG Holdings Ltd.（“目标”）和南海环球有限公司（“卖方”）签订了股份交换协议（“协议”）， 根据协议，公司收购了ZXG Holding Ltd的100%未偿股权，ZXG Holding Ltd持有中国知名酒类品牌及在中国境内的酒类分销和销售网络资产。