Summit Networks Inc (SNTW)

[MegaDeath]

Form 8-K ITEM 1.01 - Entry Into a Material Definitive Agreement.

On December 30, 2023 Summit Networks, Inc. (“SNTW”) entered into a non-binding letter of intent with Richmaster Information Technology Corp. Ltd., a Taiwan corporation (“RITC”). Under the terms of the letter of intent RITC will merge into SNTW and the shareholders of RITC will become shareholders of SNTW. The shareholders of RITC will receive 5,000,000 shares of the common stock of SNTW. The transaction has been approved by the Board of Directors of SNTW, subject to certain contingencies. In order to close the transaction, the parties have agreed to enter into a Definitive Merger Agreement on terms common to such agreements. In addition, the final closing will be subject to completion following all necessary regulatory approvals.

Richmaster Information Technology Corp. Ltd is a software development company based in Taiwan. Its main products are anti-virus software and it is developing new products for the healthcare industry.

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