Fuse Group Holding Inc. (FUST)

[Big Brother]

Anything is possible in this market.

Sounds like they want to go to NASDAQ.

KUALA LUMPUR, 04 FEBRUARY 2021 – Ho Wah Genting Berhad’s (“HWGB” or the “Company”) (KLSE:9601) wholly-owned subsidiary, HWGB Biotech Sdn Bhd (“HWGB Biotech”), has today entered into a third supplemental joint venture agreement (“JVA”) with E-MO Biology Inc (“EBI”) in which HWGB Biotech has agreed to accept a 15% equity stake in EBI in exchange for the 40% net profit from EBI agreed upon from the earlier JVA entered into on 14 August 2020. Whilst HWGB Biotech shall continue to retain the exclusive license and rights to produce, distribute, market, sell, commercialize and any other activities relating to the vaccine and patents in South East Asia.

The supplemental JVA is conditional upon EBI consummating a business combination with a company listed on the OTC Market by 01 August 2021. Through the business combination, EBI intends to further list its shares on the NASDAQ Stock Market.

Chief Executive Officer of HWGB, Dato’ Aaron Lim said: “We deliberated and negotiated over the new JVA terms and believe that this new agreement is to the benefit of the Company going forward as we will be able to share in EBI’s success. This is the best way forward”.

“EBI continues to make progress into research and development (“R&D”) for vaccines, immunological treatment and diagnostic product development related to the COVID-19 virus. It has already signed a series of agreements to conduct clinical trials in accordance with US Food and Drug Administration (“FDA”) rules. We look forward to the findings of the clinical trials and a speedy approval of the vaccines given that infection rates continue to be high in Southeast Asia and had negatively impacted the economy”.

Earlier in January 2021, the Company announced its wholly-owned subsidiary HWG Capital Sdn Bhd (“HWG Capital”) will lead the Company’s investment projects moving forward which include the US$1 million investment in EBI to fund the R&D of vaccines, immunological treatment and diagnostic product development in relation to COVID-19 virus. The EBI’s vaccine clinical project was granted full approval from the FDA for the Phase IV clinical trial and the research is also officially published on the WHO official clinical research webpage.

https://hwgbbiotech.com/view_media.php?id=239