Ecomax Inc. (EMAX)

[No1Uknow]

On January 5, 2021, Ecomat, Inc. (the “Company”) entered into a Stock Purchase Agreement (the “SPA”) with Clark Orient (BVI) Limited, (the “Purchaser”) and certain selling stockholders as described in the SPA (the “Sellers”), pursuant to which the Purchaser acquired 20,205,000 shares of common stock of the Company (the “Shares”) from Sellers for an aggregate purchase price of $320,000. The transaction contemplated in the SPA closed on January 7, 2021 (the “Closing”).



The Shares represent approximately 85% of the issued and outstanding common stock of the Company. The transaction has resulted in a change in control of the Company.



In connection with the change in control, Mr. Ivo Heiden, Chief Executive Officer, Chief Financial Officer, sole director, and Chairman of the Board of Director of the Company (the “Board”), resigned from all of his positions with the Company and the resignations became effective on January 6, 2021.



Simultaneously with the Closing, Ms. Yang Gui was appointed as the Company’s Chief Executive Officer, Chief Financial Officer, and the Chairwoman of the Board.



A form of the SPA is attached hereto as Exhibit 10.1. The foregoing is only a brief description of the material terms of the SPA, and does not purport to be a complete description of the rights and obligations of the parties thereunder and is qualified in its entirety by reference to such exhibit.