Sharing Economy International Enters into License Agreement with Ecrent Capital Holdings Limited for European Market Expansion
SHARING ECONOMY INTL INC (SEII)
US:NASDAQ Investor Relations:
prnewswire.com/news-releases/sharing-economy-internationals-chairman-issues-open-letter-to-shareholders-300596864.html
Company Research
Source: PR Newswire
HONG KONG, Aug. 15, 2018 /PRNewswire/ -- Sharing Economy International Inc. ("SEII" or "the Company") (NASDAQ: SEII) today announced that its wholly-owned subsidiary, Sharing Economy Investment Limited ("SEII"), has entered into a License Agreement with Ecrent Capital Holdings Limited ("ECRENT"), regarding the grant of an exclusive and sublicensable license from ECRENT to SEII to utilize certain software and trademarks in order to develop, launch, operate, commercialize, and maintain an online website platform in United Kingdom, Germany, France, Poland, Switzerland, Netherlands, Denmark, Russia, Italy, Spain, Portugal and Greece. In return, SEII shall issue to ECRENT 360,000 shares of restricted common stock. ECRENT will guarantee that the operation of its related websites, mobile applications and business services will contribute revenue of US$20,000,000 and gross profit of US$3,880,000 from the closing date of the License Agreement through December 31, 2019."This agreement is an ex
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