Planet Green Holdings buys 85% of Chinese ethanol company

In Maryland, Planet Green Holdings Corp. said that on January 4, 2021, the company entered into a Share Exchange Agreement with Jingshan Sanhe Luckysky New Energy Technologies Co., Ltd. and each shareholder of Jingshan. Pursuant to the Share Exchange Agreement, the company will acquire 85% of outstanding equity interests of Jingsang. The company closed the acquisition transaction on January 4, 2021. Jingsang is engaged in researching, developing, manufacturing and selling ethanol fuel and fuel additive products in China. 

At the closing, the company issued an aggregate of 2,200,000 shares of common stock of the company to the original shareholders of Jingsang in exchange for the transfer of 85% of the equity interests of the Jingsang to the Company.