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#NASDAQ $JWEL News! Jowell Global Ltd. Announces Acquisition

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StockHighAlert- Member Level  Thursday, 07/29/21 09:38:03 AM
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#NASDAQ $JWEL News! Jowell Global Ltd. Announces Acquisition of Certain Equity Interests in Suzhou Industrial Park Hongrun Rural Small Amount Loan Co., Ltd. https://on.mktw.net/3f90L78

Shanghai, China, Jul 29, 2021 (GLOBE NEWSWIRE via COMTEX) -- Shanghai, China, July 29, 2021 (GLOBE NEWSWIRE) -- Jowell Global Ltd. ("JWEL" or the "Company") (NASDAQ: JWEL), one of the leading cosmetics, health, nutritional supplements, and household products e-commerce platforms in China, today announced that its variable interest entity Shanghai Juhao Information Technology Co., Ltd. ("Shanghai Juhao") has entered into a Capital Increase Agreement to acquire 18.96% equity interest in Suzhou Industrial Park Hongrun Rural Small Amount Loan Co., Ltd. ("Hongrun Small Loan") for an aggregate consideration of RMB30 million (approximately $4.6 million) in cash. The investment by Shanghai Juhao will be ear-marked for the loans to the owners of Juhao Best Choice Stores for their business development and expansion. Juhao Best Choice Stores are the community group-buying franchise stores launched by Shanghai Juhao in April 2021.

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