Sincerity Australia Pty Ltd entered into an agreement to acquire Symbid Corp. (OTCPK:SBID) in a reverse merger transaction on June 5, 2017. Under the terms of the transaction, Symbid Corp. will issue 45.2 million post-split shares as consideration. As a part of the transaction, Symbid Corp. will affect a 60:1 reverse stock split of common shares and will have 3.1 million outstanding shares. Prior to the closing, Symbid Corp. will change its name to Sincerity Applied Materials Holdings Corp. and operate the business Sincerity Australia. As a part of the transaction, Korstiaan Zandvliet, Director and Officer and Maarten van der Sanden, Officer of Symbid Corp. will resign. Zhang Yiwen will be appointed as Chief Executive Officer, Nils Ollquist as Chief Financial Officer, and Simon Rees as Chief Operating Officer. As a part of the transaction, Symbid Corp. will complete a private placement of units for a minimum of $0.25 million and maximum of $0.5 million. On July 12, 2017, the number of acquisition shares to be issued will be 45.2 million shares rather than 45.210076 million shares. The number of shares of Parent Common Stock outstanding will be approximately 3.122287 million shares rather than approximately 3.122259 million shares. The transaction is subject to due diligence, execution of lock up agreement, completion of minimum amount of private placement, and shareholders’ approval of Symbid. The transaction has been unanimously approved by the Board of directors of Sincerity Australia and Symbid Corp. If the transaction is not completed by July 21, 2017, it will automatically be terminated. As on July 27, 2017, the agreement was amended as, the transaction shall automatically be terminated if the closing date shall not have occurred before August 15, 2017. As of September 19, 2017, the automatic termination date is modified from September 15, 2017 to September 19, 2017. Scott Rapfogel of CKR Law LLP acted as legal advisor to Sincerity Australia Pty Ltd. and Symbid Corp. Sincerity Australia Pty Ltd completed the acquisition of Symbid Corp. (OTCPK:SBID) in a reverse merger transaction on September 19, 2017. Sincerity Australia Pty Ltd will trade under the name Sincerity Applied Materials Holdings Corp. Zhang Yiwen, Nils Ollquist and Zhang Leping were appointed to Board of Directors. Zhang Yiwen was appointed as President and Chief Executive Officer, Nils Ollquist was appointed as Chief Financial Officer and Secretary, Praba Ganeshan was appointed as Treasurer and Simon Rees was appointed as Chief Operating Officer. Zhang Yiwen will be principal executive officer and Nils Ollquist will be principal financial and accounting officer for SEC reporting purposes of Sincerity Applied Materials Holdings Corp.