Market Overview

NDMT Signs Merger Agreement with Mega Power Tech Ltd.


Taipei City, Taiwan, July 20, 2018 (GLOBE NEWSWIRE) -- NowNews Digital Media Technology Co., Ltd. ("NDMT" or the "Company") (OTCQB:NDMT), a media company that provides news and multimedia platform services, today announced that the Company and Dawnrain Media Co., Ltd. ("Dawnrain"), the Company's wholly-owned subsidiary, entered into an agreement of merger (the "Merger Agreement") with Mega Power Tech Ltd. ("Mega Power") and a shareholder of Mega Power. Mega Power is a Seychelles company engaged in the business of retailing smart TV box and beer vending machine.

Pursuant to the Merger Agreement, the Company shall issue 510,000 shares of its common stock to the shareholder of Mega Power in exchange for fifty-one percent (51%) of Mega Power's equity interest (the "Merger"), which shall be held by the Company through Dawnrain. The Merger shall be closed within thirty (30) business days after the date of the Merger Agreement.

"NDMT's majority owned subsidiary NOWnews Network has been a leading content producer and distributor for years, we are always trying to expand our influence in the global Chinese community. By entering this Merger Agreement, we would be able to leverage the distribution channel and retail network of Mega Power and expand our distribution to a broader audience, " said Ji-Yi Lan, Chief Executive Officer of NDMT, "we look forward to creating enhanced value for our combined employees, customers, shareholders and the communities we serve."

About Mega Power Tech Ltd.

Mega Power is a Seychelles company engaged in the business of retailing smart TV box and beer vending machine. It provides one stop shop multimedia solutions through its retail stores in Taiwan. The company's smart TV box enables customers to access global digital channels including movie, news, music, education, shopping and games.

About NowNews Digital Media Technology Co. Ltd.

NowNews Digital Media Technology Co. Ltd. is a U.S.-listed media holding company focusing on the global Chinese market. The Company's majority owned subsidiary NOWnews Network ("NOWnews") engages in creating, collecting and distributing news and information through its website and applications on mobile phones or tablets. NOWnews is the largest online self-produced news content provider of Taiwan and the only Taiwanese online news website fully accessible in Mainland China.

Forward-Looking Statements

This news release contains "forward-looking statements", which may include, but is not limited to, statements that express the company's intentions, beliefs, expectations, strategies, predictions or any other statements relating to its future activities or other future events or conditions. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Nownews Digital Media Technology Co. Ltd. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Nownews Digital Media Technology Co. Ltd. disclaim, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For further information, please contact:

Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803

Primary Logo

View Comments and Join the Discussion!