Gold Shiny International Limited acquired Fovea Jewelry Holdings, Ltd. in a reverse merger transaction for $0.1 million.
March 22, 2020
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Gold Shiny International Limited signed an agreement to acquire Fovea Jewelry Holdings, Ltd. (OTCPK:FJHL) in a reverse merger transaction for $0.1 million on March 20, 2020. Under the transaction, Fovea Jewelry Holdings, Ltd. issued 10 million shares its common stock to the shareholders of Gold Shiny International Limited. Upon consummation of the share exchange, the shareholders of Gold Shiny International Limited held approximately 99% of the issued and outstanding shares of common stock of the resulting issuer. Gold Shiny International Limited will comprise the ongoing operations of the combined entity. The transaction is subject to all necessary approvals under federal and state securities laws and other authorizations relating to the issuance of the acquisition shares and the transfer of the shares having been received, Fovea Jewelry having obtained an opinion stating that the terms of the exchange are fair, just and equitable to Fovea Jewelry and its shareholders, Fovea Jewelry having received a written resignation from each of the directors and officers of Gold Shiny International Limited effective as of the closing, shares of Fovea Jewelry being eligible for quotation on any tier of the OTCMarkets Group, Inc. and other conditions. The transaction is expected to be completed on or before March 31, 2020.
Gold Shiny International Limited completed the acquisition of Fovea Jewelry Holdings, Ltd. (OTCPK:FJHL) in a reverse merger transaction on March 20, 2020.
Fovea Jewelry Holdings, Ltd. is a holding company. It is engaged in designing and selling jewelry products under the name Fovea Jewelry. The Company, through its subsidiaries, mainly commenced to operate an online store to sell the quality jewelry on www.fovea-jewellery.com. It provides services, such as polishing and cleaning services, pairing, engraving, re-sizing, restoration, and styling of jewelry. The Company operates a diamond jewelry business operation which focuses on the East Asia region and has locations in Hong Kong and China for the purposes of conveniently shipping products. It operates primarily through in Hong Kong segment. The Companyâs subsidiaries include Fovea International Holdings Limited, Fovea Jewellery Holdings Limited, Gold Shiny International Limited, and Gold Shiny (Asia) Limited.