◆NDMT Signs Share Exchange Agreement with Beijing New Tong Ying Culture Media Co., Ltd.
Taipei City, Taiwan, April 14, 2016---- NowNews Digital Media Technology Co., Ltd. (“NDMT” or “the Company”) (OTCQB: NDMT), a media company that provides news and multimedia platform service, is pleased to announce that the company has entered into a Share Exchange Agreement with Beijing New Tong Ying Culture Media Co., Ltd. (“BJNTY”). Upon completion of the share exchange, NDMT will obtain 80% of capital interest of BJNTY, in exchange of 1.6 million common shares of NDMT. In the agreement, it is also noted that the transaction contemplated in the Share Exchange Agreement could be unwound by BJNTY, if the Company cannot make its way to be listed on NYSE by February 28, 2017.
BJNTY, a company formed in Beijing, China in September 2015 is in the business of development and production of theatrical movies, television shows, short films, Internet movies and other media content.
“We are glad to bring this excellent company into NDMT family. By leveraging its advanced filmmaking technology and professional experience in the industry, NDMT will start expanding in the Chinese market rapidly in the following areas: online advertising services, Internet news information services and information Internet broadcasting services,” says David Shi, CEO of NDMT.
About Nownews Digital Media Technology Co., Ltd.
NowNews Digital Media Technology Co. Ltd. (OTCQB: NDMT) is a U.S.-listed holding company, through its subsidiaries, engaging in creating, collecting and distributing news and information through its website and applications on mobile phones or tablets. NowNews is also the largest online self-produced news content provider of Taiwan and the only Taiwanese online news website fully accessible in Mainland China. After launched Professional Category news brands, we launched Nownews Mobile Web and Apps. In July 2013, Nownews launched a new concept newspaper “NOWnews”, which is the first O2O case in Taiwan. Nownews owns a great amount of brands, such as the largest online self-produced news content provider「NOWnews」, the biggest Citizen Journalist platform「WEnews」, online video shopping website「NOWshopping」, etc. Its partners include CCTV, Yahoo, MSN, Hinet, Yam, Sina and other telecoms operators.
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