Sharing Economy International Inc (SEII)

[BLACKBIRDSR-71]

Sharing Economy, Hanking ink $30M investment cooperation deal

Apr. 06, 2022 12:06 PM ETSharing Economy International Inc. (SEII)By: Jessica Kuruthukulangara, SA News Editor
Sharing Economy International (OTCQB:SEII) said Wednesday it signed an investment cooperation deal with Hanking Fof Investment.
Hanking intends to make strategic investments in SEII of up to $30M for a 2-year period.
Proceeds will be used in R&D of new technologies and products such as intelligent algorithms, application systems and intelligent interactive devices based on metaverse applications of SEII.
The investment will used in ultra-high definition naked-eye 3D integrated solution, software and hardware products as well market expansion in Hong Kong, Macao, Southeast Asia and Europe.
Proceeds will also be used in SEII's cooperation with major customers involved in 3D upgrade of display panel and expansion of SEII's cooperation with more projects combining metaverse technology and green economy.
The signing of the formal investment deal is subject to due diligence being conducted by Hanking on SEII within 90 days of signing this deal.
Hanking is a private equity fund professionally operated and managed by a family office for wealthy families.