Renmin Tianli Group, Inc. Enters into Equity Transfer Agreement; Announces Management and Board Changes
RENMIN TIANLI GROUP INC (ABAC)
US:NASDAQ Investor Relations:
aoxintianli-china.com
Company Research
Source: PR Newswire
WUHAN, China, Jan. 14, 2019 /PRNewswire/ -- Renmin Tianli Group, Inc. (NASDAQ:ABAC) ("Renmin Tianli" or the "Company"), a producer of breeder hogs, market hogs and black hogs, as well as specialty processed black hog pork products sold through retail outlets and the internet, with headquarters in Wuhan City, Hubei Province, China, today announced that it has entered into an equity transfer agreement to acquire a 40% equity interest in Dalian Lianhui Hotel Co., Ltd. ("Lianhui") by issuing 4,000,000 shares of Renmin Tianli common stock, par value of $0.004 per share, to the sole shareholder of Lianhui. Lianhui operates a boutique hotel with 120 rooms and certain retail/commercial spaces located at No. 5 Wuwu Road, Zhongshan District, Dalian City, Liaoning Province. The Company's Board of Directors (the "Board") has approved the transaction.Additionally, on January 10, 2019, the Board unanimously elected Mr. Yongquan Bi and Mr. Tiewei Song as members of the Board and appointed Mr. Xiaodo
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