KMT-Hansa Corp. (TSX:KMC.H)
TORONTO, ONTARIO, CANADA, November 12, 2018 /EINPresswire.com/ — KMT-HANSA CORP.
The Law Building, The Valley
AI-2640, Anguilla, B.W.I.
KMT-Hansa Announces Agreement with HDD Investment Holdings Corp.
FOR IMMEDIATE RELEASE NEX: KMC.H
Anguilla, British West Indies – November 12, 2018: KMT-Hansa Corp. (NEX: KMC.H) (“KMT” or the “Company”) is pleased to announce it entered into an agreement (the “Agreement”) on October 29, 2018 with HDD Investment Holdings Corp. (“HDD”), a company that owns fifty thousand (50,000) Chinese mu (8,237 acres, 33,333 hectares) of land in Hainan, China (the “Hainan Site”) that it intends to develop. Pursuant to the Agreement, KMT proposes to enter into a transaction (the “Transaction”) with HDD, wherein KMT will acquire HDD by issuing common shares to its shareholders who will become the majority shareholders of KMT. The Agreement is subject to shareholder and regulatory approval.
HDD, an Anguilla corporation, intends to develop the Hainan Site through several development projects that will be in accordance with Hainan’s 13th 5-Year Plan which identifies twelve key industries including tropical “high-efficiency agriculture”, “low-carbon manufacturing”, “real estate”, and “high tech”. More information about HDD and the Hainan development plans will be provided in a future press release.
The Company will seek shareholder approval for i) the transaction, ii) a change in its name to a name to be proposed by HDD, iii) the valuation of HDD that will determine the number of shares of the Company to be issued to HDD shareholders, iv) a consolidation of the common shares if needed, v) a new stock option plan, and vi) a new slate of directors to be nominated by HDD subject to completion of the transaction.
The Transaction will be subject to various conditions imposed by the parties, terms of a definitive agreement, the TSX Venture Exchange, and regulatory bodies in Canada or Anguilla. There is no assurance that the Transaction will be completed as proposed or at all. Further details of the proposed transaction, and a definitive agreement will be provided when available.
More information about KMT-Hansa Corp. can be found at www.kmt-hansa.com and the Company can be contacted by email at email@example.com.
ON BEHALF OF THE COMPANY
Mr. Kobyrajh Sivagurunathan, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Source: EIN Presswire