ADDENTAX GROUP CORP. (OTCMKTS:ATXG) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01: Entry into a Material Definitive Agreement.
Effective December 28, 2016 Addentax Group Corp. (ATXG or the
Company) has executed Sale Purchase Agreement (SP) for the
acquisition of 100% of the shares and assets of Yingxi Industrial
Chain Group Co., Ltd., a company incorporated under the laws of
the Republic of Seychelles. ATXG has agreed to issue five hundred
million (500,000,000) shares of ATXG to Yingxi Industrial Chain
Group Co., Ltd. to acquire the shares and assets for a cost of
US$0.30 per share or a total cost of US$150,000,000.
Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers
Effective December 28, 2016, ATXG has accepted the resignation of
Mr. Yu Keying from the position of President, Secretary and
Treasurer. He will remain on the Board as a Director.
Also effective December 28, 2016, the company announced the
appointment of Mr. Wu Linrui, to the Board of
Directors in the position of President, Secretary and Treasurer.
He will also serve as a Director.
From July 1994 to April 2000 he worked as a manager of daily
operations for the Guangzhou Huangsha Aquatic Company in
Guangzhou, China. The company was a seller of wholesale market
products. From April 2000 to May 2003 he worked as Chief Manager
for the Shapishu Garments Co. located in Shenzhen City, China and
from May 2003 to June 2005 he served as chairman of the Shenzhen
Mailang Garments Co. Ltd. also located in Shenzhen City, China.
As chairman, he was responsible for the companys daily operations
and development strategy. Starting in April 2005 and until March
2009 he was a manager in charge of daily operations at the
Shenzhen Dima Garments Co. Ltd., located in Shenzhen City, China.
From March 2009 to May 2012 he served as a manager at the Bitun
Garment Co. Ltd (Shenzhen Brand) in Shenzhen City, China. From
May 2012 to January 2016 he was chairman at Shenzhen Bitun
Textile Co. Ltd. also located in Shenzhen City, China. In this
position he was responsible for the companys development
strategy. From January 2016 to the present he has served as
chairman at the Shenzhen Qianhai Yingxi Industrial Chain Service
Co. Ltd. responsible for the Companys development strategy. This
company is also located in Shenzhen City, China.
Item 9.01 Financial Statements and
Exhibits
Exhibit No.Description
10.03 Sale and Purchase Agreement for the Acquisition of 100% of
the shares and assets of Yingxi Industrial Chain Group Co., Ltd.;
Dated December 26, 2016.
About ADDENTAX GROUP CORP. (OTCMKTS:ATXG)
Addentax Group Corp. is a development-stage company. The Company is working on a field of producing images on a multiple surfaces, such as glass, leather, plastic, ceramic, textile, and others using three-dimensional (3D) sublimation vacuum heat transfer machine. The 3D sublimation vacuum heat transfer machine does not require technical skills for product production. A set of printing machines includes the machine itself and all raw materials for setting up and testing, and raw materials for production process. Materials for images can be varied, such as ceramics, glass, crockery, metal, clothing, caps, bags, leather products and other products. Its products are intended for individuals, business owners associated with the sale of souvenirs, and business owners intending to order souvenirs in the corporate style. It also intends to conclude a contract of carriage with local shipping companies for delivery of its goods to cities such as Meknes, Rabat, Kenitra and across the world.
