Brief: Urban Tea Enters Into Non-Binding Letter Of Intent To Acquire Hunan 39 Pu Tea Co

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13/08/2019 14:26

Aug 13 (Reuters) - Urban Tea Inc  MYT.O :
    * URBAN TEA, INC. ENTERS INTO A NON-BINDING LETTER OF INTENT
TO
ACQUIRE HUNAN 39 PU TEA CO., LTD.
    * URBAN TEA - WILL PAY 39 PU TEA EQUITY HOLDERS
CONSIDERATION
CONSISTING OF 70% PAID IN ORDINARY SHARES, NO PAR VALUE, OF
COMPANY, AND 30% PAID IN CASH
    * URBAN TEA INC - PAYMENT OF ACQUISITION CONSIDERATION WILL
BE
SUBJECT TO 39 PU'S ACHIEVEMENT OF CERTAIN OPERATIONAL MILESTONES

Source text for Eikon:  ID:nPn1qjdM4a 
Further company coverage:  MYT.O 

 ((Reuters.Briefs@thomsonreuters.com;))