Delaware, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Trans Global Group Inc. (“TGGI” or the “Company”), a U.S. holding company conducting wine distribution and retail sales business via Guangdong, China-based subsidiary Shenzhen Zui Xian Gui Brewery Technology Ltd. (“ZXGSZ”), today announced that the Company entered into a share exchange agreement (the “Agreement”) with ZXG Holdings Ltd. (the “Target”) and Southsea Global Ltd. (the “Seller”) on August 3, 2022. Pursuant to the Agreement, the Company acquired 100% of outstanding equity interests of the Target, which holds famous Chinese favored liquor brand and liquor distribution and sales network assets in China.

Pursuant to the Agreement, the Company issued 1,465,761,689 shares of common stock to the Seller, which was the sole shareholder of the Target. Upon completion of the acquisition on August 8, 2022, the Target now becomes a wholly-owned subsidiary of the Company.

Mr. Chen Ren, President and Chairman of TGGI, commented: “We are delighted to complete the reorganization of the Company and successfully list our Chinese liquor business via this reverse merger in the U.S. market. Our brand ‘Zui Xian Gui’ is a well-reputed liquor brand with special quality and multi liquor culture. With expanded access to the capital market, we aim to create healthy and good wine belonging to China and the world, creating sustainable value for our consumers and shareholders.”

About Trans Global Group Inc.

Trans Global Group Inc. is a U.S. holding company incorporated in Delaware. The Company conducts business through PRC subsidiary Shenzhen Zui Xian Gui Brewery Technology Ltd. (“ZXGSZ”), which is a wine distribution and retail sales company based in Guangdong province, China. With the mission to let the world taste Chinese wine, and let the world fall in love with “ZuiXianGui”. Through the offline and online promotion, TGGI hopes to deepen the customers’ impression of the brand and promote sales in China and globally. For more information, please visit: https://zuixianguijiufang.com.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on our management's current expectations and beliefs, as well as a number of assumptions concerning future events.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in our reports filed with the Securities and Exchange Commission, which are available, free of charge, on the SEC's website at www.sec.gov.

For more information, please contact:

Investor Relations

EverGreen Consulting Inc.

Ms. Janice Wang, Managing Partner

Email: IR@changqingconsulting.com

Phone: +1 470-940-3308 (from U.S.)

+86 13811768559 (from China)