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WECONNECT TECH INTERNATIONAL INC.

(WECT)
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WECONNECT TECH INTERNATIONAL, INC. : Entry into a Material Definitive Agreement, Completion of Acquisition or Disposition of Assets, Financial Statements and Exhibits (form 8-K)

08/27/2021 | 10:03am EDT

Item 1.01 Entry into a Material Definitive Agreement

On June 20, 2021, WeConnect Tech International, Inc. (the "Corporation") and Ng Chee Chun, an individual ("Purchaser") entered into that certain Share Sale Agreement (the "Share Sale Agreement") pursuant to which the Corporation sold to the Purchaser all shares of MIG Mobile Tech Berhad ("MIG Mobile") held by the Corporation in consideration of Malaysia Ringgit One Thousand. The sale consummated and was registered with the Malaysian Government pursuant to Section 51 of the Companies Act 2016 on August 24, 2021. As a result, MIG Mobile is no longer a subsidiary of the Corporation.

The foregoing description of the Share Sale Agreement is qualified in its entirety by reference to such Share Sale Agreement which is filed as Exhibit 10.1 to this Current Report and is incorporated herein by reference.

Item 2.01. Completion of Acquisition or Disposition of Assets.

The disclosure provided under Item 1.01 above is hereby incorporated by reference.

Item 9.01. Financial Statements and Exhibits.




(c). Exhibits.



Number   Exhibit

10.1       Share Sale Agreement, dated June 20, 2021, by and between WeConnect Tech
         International Inc. and Ng Chee Chun












  2

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Financials (USD)
Sales 2020 0,07 M - -
Net income 2020 -1,10 M - -
Net cash 2020 0,00 M - -
P/E ratio 2020 -23,1x
Yield 2020 -
Capitalization 44,5 M 44,5 M -
EV / Sales 2019 1 016x
EV / Sales 2020 389x
Nbr of Employees 15
Free-Float 72,8%
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Managers and Directors
Shiong Han Wee Director, Chief Executive & Financial Officer
Pui Hold Ho Independent Non-Executive Director
Mun Wai Wong Independent Non-Executive Director
Kwueh Lin Wong Secretary & Director
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