Harmony Provides Business Updates
New York, New York--(Newsfile Corp. - January 14, 2020) - Harmony Energy Technologies Corporation ("Harmony" or the "Company") is pleased to provides its business updates.
Harmony is an American technology startup engaging to develop the solutions which entail the integration of clean energy and rechargeable battery technologies. Harmony was a spinout from Golden Share Resources Corporation (TSXV: GSH) ("Golden Share") during January of 2019. (Please refer to Golden Share Press Releases dated January 2, 2019 and January 14, 2019.)
In November 2019, Harmony has signed the definitive agreement to acquire 100% of Shenzhen Smarten Technology Co., Ltd. ("Smarten") for 1,800,000 shares of Harmony common shares and a cash payment of Chinese Renminbi 2,000,000 (approximately US$280,000). (Please refer to Harmony Press Release dated November 14, 2019).
In December 2019, Harmony has issued 1,800,000 shares upon receiving lockup agreements into total representing approximately 61.24% of shares to support the acquisition. The ownership transition and related legal documents have already started proceeding. The cash payment will be transacted upon final approval of the Special Shareholders' Meeting of Harmony and the ownership and all related legal documents are finalized which is expected in the second quarter of 2020.
Since the January 1of 2020, Smarten is operating as a 100% own subsidiary of Harmony.
In and for the best interests of all shareholders, Harmony has decided to consider applying be quoted on OTC market in the United States after the acquisition is completed.
About Harmony
Harmony Energy Technologies Corporation is an American technology startup engaging to develop the solutions which entail the integration of clean energy and rechargeable battery technologies.
About Golden Share
Golden Share Resources Corporation is a junior natural resource company focusing on mineral exploration in the province of Ontario, Canada, a mineral rich and politically stable jurisdiction.
WARNING: Certain statements in this press release may be forward-looking, including those with respect to the timing and content of up-coming work programs etc. Forward-looking statements address future events and conditions and therefore involve inherent risks, uncertainties and assumptions. Actual results may differ materially from those currently anticipated in such statements. The Company relies upon litigation protection for forward-looking statements. The reader is warned against undue reliance on these forward-looking statements.
Regulation Services Provider does not accept responsibility for the adequacy or accuracy of this release.
For more information, please visit www.hetcusa.com or contact:
Harmony Energy Technologies Corporation
Nick Zeng, President & CEO
Tel: (905) 968-1199
E-mail: info@hetcusa.ca
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51409