Planet Green Holdings Corp. (the “Company”) (NYSE:PLAG) announced today that on July 15, 2022, the Company has entered into a Share Exchange Agreement with Xianning Xiangtian Energy Holdings Group Co., Ltd. (“Target”) and the shareholder of the Target (the “Seller”). Pursuant to the Share Exchange Agreement, the Company will acquire 30% of outstanding equity interests of the Target. The Target is a company that holds LNG production facilities through its subsidiary, and owns other assets.
Pursuant to the Share Exchange Agreement, the company will issue 12,000,000 shares of common stock of the Company to the Sellers in exchange for the transfer of 30% of the equity interest of the Target. The transaction is subject to closing conditions that are customary for transactions of this type.
