Kiwa Bio-Tech Products Group Corporation (OTCMKTS:KWBT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On February 11, 2017, Kiwa Bio-Tech Products Group Corporation
(OTC: KWBT) (the Company) executed an Equity Transfer Agreement
with Dian Shi Cheng Jing (Beijing) Technology Co. (Transferee)
whereby the Company transferred all of its right, title and
interest in Kiwa Bio-Tech Products (Shandong) Co., Ltd.
(Shandong) to the Transferee for the RMB equivalent of US$1.00.
In connection with the transaction, the Transferee received all
assets of Shandong which are estimated to be approximately RMB
14,057,713 at the effective date and assumed all liabilities of
Shandong which are estimated to be approximately RMB59,446,513 at
the effective date. In connection with this transaction,
Transferee agreed to indemnify the Company for any liability or
claims of any third party(ies) against Shandong or the Company
for five (5) years. The transaction is subject to obtaining
Chinese government approval for the transaction, which the
parties agrees to use their best efforts to obtain prior to
December 31, 2017.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
None
About Kiwa Bio-Tech Products Group Corporation (OTCMKTS:KWBT)
Kiwa Bio-Tech Products Group Corporation develops, manufactures, distributes and markets bio-technological products for agriculture. The Company has acquired technologies to produce and market bio-fertilizer. The Company has developed over six bio-fertilizer products with bacillus spp and/or photosynthetic bacteria as its ingredients. The Company’s products contain ingredients of both photosynthesis and bacillus bacteria. The Company’s products include KiwaBiological Organic Fertilizer, Kiwa Yi Mu Ling, Kiwa Di Fu Kang, Kiwa Microbial Specific Fertilizer For Rice, Kiwa Microbial Specific Fertilizer For Corn, Kiwa Microbial Specific Fertilizer For Potato, Kiwa Microbial Specific Fertilizer For Soybean, Kiwa Microbial Specific Fertilizer For Tea Tree, Kiwa Microbial Specific Fertilizer For Tobacco, Kiwa Microbial Specific Fertilizer For Fruit Trees, Kiwa Microbial Specific Fertilizer For Vegetables and Kiwa Full Effect Type Foliar For Golf Turf. Kiwa Bio-Tech Products Group Corporation (OTCMKTS:KWBT) Recent Trading Information
Kiwa Bio-Tech Products Group Corporation (OTCMKTS:KWBT) closed its last trading session up +0.11 at 1.32 with 5,918 shares trading hands.
