Yuanxing Holdings (Hong Kong) holds all of the issued and outstanding share capital of Yuanxing Package (China), as well as its related company, Yuanxing Packaging.
Under the terms of the LOI with Yuanxing Packaging (available on Sedar), the company will issue such number of shares of the company to the shareholders of Yuanxing Packaging, which will represent a valuation of approximately $80m based on a deemed price of $0.40 per share.
Completion of the acquisition contemplated under the LOI is subject to a number of conditions.
Source: Asia Packaging Group
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