An unknown buyer entered into a letter of intent to acquire Mountain China Resorts (Holding) Limited (TSXV:MCG) on August 22, 2022. As per the transaction, Mountain China Resorts (Holding) Limited shares holders will receive one share of combined entity for every share held and each of the issued and outstanding MCR common shares held by shareholders other than the Wisecord Group who are resident in the United States shall be exchanged for $0.0026 per share. After the transaction, buyer will hold 64.55% stake in the combined company. The transaction is subject to approval by shareholders of Mountain China Resorts (Holding) Limited and regulatory approvals. As on December 19, 2022, Transaction has been approved by Mountain China Resorts shareholders. Mountain China Resorts anticipates that the shares will be delisted on or about the close of trading before December 31, 2022.

An unknown buyer completed the acquisition of Mountain China Resorts (Holding) Limited (TSXV:MCG) on January 18, 2023.