- May 24, 2018
- Posted by: riadamr
- Category: Press release
Thousand Oaks, California, Jan. 29, 2019 (GLOBE NEWSWIRE) — Velt International Group Inc. (OTC Pink: VIGC) (the “Company” or “Velt”) today announced that on January 25, 2019 it has executed an agreement to acquire all of the issued and outstanding shares of Natural Health Farm (Labuan) Inc (“NHF”), a Malaysian Offshore company as Exclusive Licensee of a Cancer Treatment technology for Sub-Sahara African Region.
Under the agreement, Velt acquired 100% outstanding shares of NHF for the aggregated amount of USD 10 Million. Velt shall issue shares equivalent to the acquisition amount based on share price closed on January 25, 2019. Based on the agreement the value of the exclusive license for the cancer treatment license shall be valued by an independent valuer and if the valuation report values the license below USD 10 Million than the lower value shall apply and the 10 Million being the maximum price even if the valuation reports arrives at a higher valuation price.
Ali Kasa, the CEO and President of the Company said, “the acquisition of NHF is an exciting news and for us as it completes all the ingredients required to venture into cancer treatment. The Exclusive license of Next Generation Photo Dynamic Therapy (NGPDT) is currently undergoing medical human trials in Australia by Invion Ltd an Australian Publicly traded company on Australian Stock Exchange under the symbol IVX, exclusive licensee for Australia and New Zealand. ”
About Natural Health Farm (Labuan) Inc
Natural Health Farm (Labuan) Inc is an on offshore company incorporated in Labuan, Malaysia which offers attractive 3% tax on profit. The company is clinical-stage life sciences company that holds the exclusive license for registering and commercializing PhotosoftÔ technology for treatment of all cancers across Sub-Sahara African region. The technology has been licensed in Australia, New Zealand, China, Malaysia and Sub-Sahara Africa. The human clinical trial efforts have started in Australia and China conducted by Hudson Medical Institute, Australian.
About Photodynamic Therapy (PDT)
PhotosoftÔ technology as an improved next generation Photodynamic Therapy. PDT uses non-toxic photosensitizers and visible light in combination with oxygen to produce cytotoxic-reactive oxygen that kills malignant cells, shuts down tumors and stimulates the immune system. In contrast to surgery, or radiotherapy and chemotherapy which are mostly immunosuppressive, PDT causes acute inflammation, expression of heat-shock proteins, and invasion and infiltration of a tumor by leukocytes.
About Velt International Group Inc.
Velt International Group Inc. is a Nevada based incorporated since 2011 with branch operations in California as well. Since December of 2017, the company has invested in development of mobile applications in quest to find a profitable business model. With acquisition of THF Holdings in Australia ,THT International Hong Kong and its subsidiaries in South Africa and NHF Inc, the company has decided to embark in life science as a sector to operate and cancer treatment as an area that it will develop its expertise and business.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, are subject to Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbors created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.