ZK International Group Co., Ltd., a designer, engineer, manufacturer and supplier of patented high-performance stainless steel and carbon steel pipe products for projects that require sophisticated water or gas pipeline systems, is pleased to announce that it is receiving a strategic investment from NGST Limited, which is owned by world renowned businessman, politician, advisor, philanthropist and Founder of Blockchain Centre,  Antanas Guoga and Exigent Capital, a firm specializing in cryptocurrency trading (collectively the "investors").

On December 28, 2017, ZK International Group Co., Ltd. (the "Company") completed a closing of private placement offering (the "Offering") of restricted ordinary shares of the Company, (the "Shares"), at a purchase price of US$6.00 per share, for an aggregate purchase price of $520,000. Upon the closing, the Company issued a total of 86,666 restricted ordinary shares to the investors in the Offering, subject to customary restrictions pursuant to Rule 144 of the Securities Act of 1933, as amended and the shareholders understood that the shares of our securities may not be sold or otherwise disposed of without registration under the Securities Act or an applicable exemption.

The Shares were offered and sold to the investors in the Offering pursuant to that certain subscription agreements entered into on December 28, 2017 (the "Subscription Agreement").

The foregoing descriptions of the Offering and Subscription Agreement, are qualified in their entirety by reference to the provisions of the Form of Subscription Agreement filed as Exhibit 10.1 to the Current Report on Form 6-K which was filed with the SEC at www.sec.gov.

Mr. Jiancong Huang, President and CEO of ZK International, stated, "I am excited about the investment, not only for its economic benefit, but also because of the investors' industry know-how and knowledge that they bring to the Company."

 

Source: prnewswire.com

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