Dragon Victory International Ltd (NASDAQ: LYL) proclaimed now that it has arrived into a compulsory term slip in linking with a corporate alteration deal and possible speculation with Natural Selection Capital Holdings Limited (“Natural”), Mr. Ni Ming, LSQ Investment Fund, and definite buyers embodied by Elephas Global Master Fund on June 11, 2021. With deference to the company’s strategy to alter its present trade into a blockchain connected to trade, the Compulsory Period Slip sets out that the company will involve the Advisors to succor with the Trade Renovation through arriving into accessing contracts with each of them preceding to the implementation of sure conclusive business contracts. Considering the amenities to be provided by the Advisors, the company will dispense to Natural and Mr. Ni Ming certifications to acquire an amassed of 14,000,000 and 2,000,000 of the company’s afresh distributed ordinary stocks value $0.0001 per share, correspondingly. The permits to be delivered to Natural will be separated into four (4) batches, each with an exercise period of ten (10) years from the day on which such permit becomes exercisable. Each of the four batches of permits has an implementation value of $1 per part, $1.5 per part, $2.5 per share, and $2.5 per share, with a circumstance that the concluding price of the Ordinary Share matches or surpasses $2.5, $3.5, $5 and $6 per share for five successive exchange days. The permits to be delivered to Mr. Ni Ming will have an implementation term of five (5) years upon their issuance. Their implementation value will be ascertained founded on market price but no upper than $1.5 per share.
Mr. Wang Bingzhong is the solitary stockholder of Natural Selection Capital Holdings and beforehand functioned as an executive director and chief executive officer of Loto Interactive, the biggest hydropower excavating company in China. The supervisory stockholder of Loto is Bit Mining. Mr. Wang has opulent speculation knowledge in the TMT subdivision, particularly the blockchain business. Mr. Wang is also a principal of LSQ Investment Fund. Mr. Ni Ming functioned as the senior vice president of the 36Kr Group and executive director of Huarong International Financial Holdings.
The Buyers and the Advisors decided to make sensible best labors to enter into the Conclusive Contracts, which date is anticipated to be no advanced than 30 days following June 11, 2021.
There can be no guarantee that the planned Commercial Alteration will be eventually completed in agreement with the Compulsory Period Sheet or at all.
 Proclaims Admission into a Compulsory Period Slip){kind=link}