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McapMediaWire -- SPOGlobal Inc. (OTC: SPOM ), is pleased to announce that is hasentered into a non-binding letter of intent (“LOI”) dated December19 th , 2022 with Shandong Fangyuan Huizhong IntelligentEquipment Co., Ltd. (“SFHI”) pursuant to which the parties willcomplete a merger that will result in SFHI becoming a wholly-ownedsubsidiary of the company.
SFHI is located in Zhucheng, Shandong Providenceand is focused on the research and development of food machinery. Thecompany’s main products include automatic continuous vacuumpackaging machines, rolling vacuum packing machines, fruit andvegetable cleaning machines, food air dryers, walnut peeling machines,pasteurizers, freeze-drying machines, liquid nitrogen quick freezers,dryers, press dehydrators, blends, and many other food relatedmachines and equipment. For more information, please visit http://en.sdfyhz.cn/ .
The final structure ofthe transaction will be determined by the parties following thereceipt of tax, corporate and securities law advice. The closing ofthis transaction (Closing) would occur on or about sixty (60) daysfrom a fully executed Definitive Agreement. Upon closing, the CEO ofSFHI would assume the position of CEO of SPOM; Lu Fengyou would resignall positions of SPOM.
Completion of the Transaction is subject to a number ofconditions, including but not limited to the following keyconditions:
-execution of the Definitive Agreement;
-completion of mutuallysatisfactory due diligence; and
-receipt of all required regulatory, corporate andthird party approvals, including the approval of the Boards ofDirectors of SPOM and SFHI and the fulfillment of all applicableregulatory requirements and conditions necessary to complete theTransaction.
Company Disclaimers: As a Public Traded Company, within theguidelines of Federal and State Securities Law, SPO Global, Inc. maynot avail itself of the Safe Harbor provisions as identified in thePrivate Securities Litigation Reform Act of 1995. However, SPO Global,Inc. provides the following disclaimer and warning to protect ourshareholders, prospective investors and the public at large byalerting them to the risks and uncertainties involved with anyinvestment, and the need to perform their own due diligence andassessment.
Forward-Looking Statements: This press release may contain"forward-looking statements" within the meaning of the PrivateSecurities Litigation Reform Act of 1995, such as statements relatingto financial results and plans for future development activities andare thus prospective. Forward-looking statements include allstatements that are not statements of historical fact regardingintent, belief or current expectations of the Company, its directorsor its officers. Investors are cautioned that any such forward-lookingstatements are not guarantees of future performance and involve risksand uncertainties, many of which are beyond the Company's abilityto control. Actual results may differ materially from those projectedin the forward-looking statements. Among the factors that could causeactual results to differ materially from those indicated in theforward-looking statements are risks and uncertainties associated withthe Company's business and finances in general, including theability to continue and manage its growth, competition, globaleconomic conditions and other factors discussed in detail in theCompany's periodic filings with the Securities and ExchangeCommission.
Company Contact: liangjianpeng2018@gmail.com
Source: SPO GlobalInc.
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