The Details Of Cleantech's Exclusivity Deal With Inspirit Studio

Shares of Cleantech Solutions International Inc CLNT gained more than 96 percent Monday after the company said it has an exclusivity agreement for a potential takeover of Inspirit Studio. Cleantech Solutions, a China-based manufacturer and seller of textile dyeing and related products, said Monday its wholly-owned subsidiary, Sharing Economy Investment Limited, has entered into an exclusivity agreement with Inspirit studio to acquire a stake of at least 51 percent of Inspirit Studio.

New Details

On Tuesday, further details of Cleantech's plans for a partnership were released in a regulatory filing. Related Links: 3 Ways To Play China's Rate Decision Playing The Emerging Markets Trade With Leveraged ETFs _________ Image Credit: By KCyamazaki (Own work) [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)], via Wikimedia Commons

Inspirit Studio develops a sharing economy mobile platform that allows users to provide courier delivery services during their commuting times. The company's platform boasts over 2,000 freelance couriers and a five-month pilot project resulted in over 6,000 successful transactions.

Inspirit Studio will handle the following tasks:

1. Develop a community peer-to-peer errand delivery system.
2. Promote community resources sharing.
3. Expand the community errand delivery networks into a global network.

The two companies will continue discussions relating to the proposed partnership in which Cleantech will emerge the majority owner. Talks will end in three months during which neither entity will be permitted to discuss or negotiate with any third parties.