- May 24, 2018
- Posted by: riadamr
- Category: Press release
Thousand Oaks, California, Jan. 28, 2019 (GLOBE NEWSWIRE) — Velt International Group Inc. (OTC Pink: VIGC) (the “Company” or “Velt”) today announced that on January 24, 2019 it has executed an agreement to acquire all of the issued and outstanding shares of THF International (Hong Kong) Ltd (“THF International”), a Hong Kong Cancer Treatment and Medical devices company.
Under the agreement, Velt acquired 100% outstanding shares of THF International and its wholly owned South African companies for the aggregated amount of USD 2 Million. Velt shall issue shares equivalent to the acquisition amount based on share price closed on January 24, 2019. Rural Asset Management Services, Inc. (“RAM”) is the major shareholder of THF with 90% shares and on December 14, 2018 RAM acquired 1,132,000 shares of Velt, which makes it a majority shareholder of the Company.
Ali Kasa, the CEO and President of the Company said, “the acquisition of THF International and its subsidiaries in South Africa is another important milestone for Velt future directions and business model. We are exploring the life sciences sector and perhaps consider venture into latest technology related to cancer treatment.”
About THF Holdings (Hong Kong) Ltd
THF International Ltd is a Hong Kong company with investment and assets in cancer treatment medical devices and equipment. The company owns who operating companies in South Africa namely: THF Management Co and Hummingbird Century City established register and operate cancer treatment center in South Africa. The company and its South African subsidiaries are 90% owned by Rural Asset Management Services, Inc. that invests in biotechnology, life sciences, software and ICT.
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 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.