Sunrise Shares to acquire Fuzhou Tianfujia in $1m deal

The company intends to expand its business into minerals processing.

Sunrise Shares Holdings Limited has signed a share sale agreement (SSA) with Xue Di and Fu Tangha to purchase their entire equity interest in Fuzhou Tianfujia Industrial for $1m.

Upon completion of the proposed acquisition, Tianfujia will become a wholly-owned subsidiary of the group.

The purchase consideration shall be fully satisfied by the company by issuing 34.4 million new ordinary shares at an issue price of $0.029 apiece.

Subject to shareholder approval, Sunrise Shares also intends to expand its business into minerals processing.

This includes the importing, processing, selling, and exporting of various minerals, including but not limited to silica sand.

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