Planet Green Holdings Corp. (NYSE American: PLAG) announced today that on January 4, 2021, the Company has entered into a Share Exchange Agreement with Jingshan Sanhe Luckysky New Energy Technologies Co., Ltd. and each shareholder of the Target. Pursuant to the Share Exchange Agreement, the Company will acquire 85% of outstanding equity interests of the Target. The Company closed the acquisition transaction on January 4, 2021. The Target is engaged in researching, developing, manufacturing and selling ethanol fuel and fuel additive products in China.
At the closing, the Company issued an aggregate of 2,200,000 shares of common stock of the Company to the original shareholders of Target in exchange for the transfer of 85% of the equity interests of the Target to the Company.
