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QHY Group Completes the Raise of $2.2 Million Dollars U.S. in a Private Placement
Business Initiatives to be announced in January 2019
NEW YORK, Dec. 28, 2018 /PRNewswire/ -- QHY Group (the Company, OTC:PK: "QHYG") today announced that it has received in escrow $2,196,500 from investors in a private placement of 6,655,750 shares of QHYG common stock and closed the transaction.
Pursuant to the terms of the non-brokered private placement, the Company has agreed to sell 6,655,750 common shares to investors for $2,196,500. In addition, the investors are not affiliated with the Company.
The proceeds from the private placement are anticipated to be used for working capital purposes, mainly for business development in developed countries including but not limited to Australia and New Zealand.
About QHY Group
QHY Group, a Nevada corporation, is engaged in marketing advanced wastewater treatment solutions with innovative technologies throughout the world. Through its wholly owned subsidiary PBG Water Solutions International Inc. ("PBG Water"), the Company entered into a License Agreement with Beijing QHY Environment S&T Co. Ltd. and Mr. Max Mao, pursuant to which the Company acquired the exclusive right to 21 patents and related technologies for the treatment of wastewater. The agreement grants the Company the worldwide exclusive right to use the technologies which are the subject of the License for a term extending through June 30, 2037.
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