Planet Green Holdings Corp. Enters Into Share Exchange Agreement

Rhea-AI Summary

Planet Green Holdings Corp. (PLAG) announced a Share Exchange Agreement to acquire 66% of Anhui Ansheng Petrochemical Equipment Co., Ltd. for 4,800,000 shares of its common stock. The Target specializes in manufacturing explosion-proof refueling equipment, LNG cryogenic equipment, and oil storage tanks in China. The transaction is subject to customary closing conditions. The press release cautioned that forward-looking statements about future events are based on management's assumptions and could differ due to various risks and uncertainties.

Positive

• Acquisition of 66% equity interest in Anhui Ansheng Petrochemical Equipment enhances growth potential.
• Target operates in the expanding Chinese market for petrochemical equipment, likely increasing revenue opportunities.

Negative

• The transaction requires customary closing conditions, which could introduce delays or complications.
• Potential risks associated with the dependability of forward-looking statements.

NEW YORK, July 15, 2021 /PRNewswire/-- Planet Green Holdings Corp. (the "Company") (NYSE American: PLAG) announced that the Company has entered into a Share Exchange Agreement with Anhui Ansheng Petrochemical Equipment Co., Ltd. ("Target") and each shareholder of the Target (collectively "Sellers") today. Pursuant to the Share Exchange Agreement, the Company will acquire 66% of outstanding equity interests of the Target, a company that researches, develops and manufactures insulation type explosion-proof skid-mounted refueling equipment, LNG cryogenic equipment and SF double deck oil storage tank and sells such products in China.

Pursuant to the Share Exchange Agreement, the company will issue 4,800,000 shares of common stock of the Company to the Sellers in exchange for the transfer of 66% of the equity interest of the Target. The transaction is subject to closing conditions that are customary for transactions of this type.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on our management's current expectations and beliefs, as well as a number of assumptions concerning future events.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in our reports filed with the Securities and Exchange Commission, which are available, free of charge, on the SEC's website at www.sec.gov.

For more information please contact:

Ms. Lili Hu Chief Financial Officer Phone: 718 799 0380 Email: hulili@planetgreenholdings.com

View original content:https://www.prnewswire.com/news-releases/planet-green-holdings-corp-enters-into-share-exchange-agreement-301335226.html

SOURCE Planet Green Holdings Corp.

FAQ

What did Planet Green Holdings Corp. announce on July 15, 2021?

Planet Green Holdings Corp. announced a Share Exchange Agreement to acquire 66% of Anhui Ansheng Petrochemical Equipment Co., Ltd.

How many shares will Planet Green Holdings issue for the acquisition of Anhui Ansheng?

Planet Green Holdings will issue 4,800,000 shares of common stock for the acquisition.

What does Anhui Ansheng Petrochemical Equipment manufacture?

Anhui Ansheng manufactures explosion-proof refueling equipment, LNG cryogenic equipment, and oil storage tanks.

What are the risks mentioned in the press release?

The press release mentions that forward-looking statements carry risks and uncertainties that could lead to different actual results.

What stock symbol represents Planet Green Holdings Corp.?

The stock symbol for Planet Green Holdings Corp. is PLAG.