Newater Technology Inc (NASDAQ: NEWA) Shareholders Approve the Crouching Tiger Holding Limited Merger Agreement

Newater Technology Inc (NASDAQ: NEWA) shareholders have approved its merger agreement with Crouching Tiger Holding Limited at an extraordinary general meeting.

Green Forest Holding Limited is integrated under the laws of the British Virgin Islands

Green Forest Holding Limited is integrated under the laws of the British Virgin Islands, will merge into the company become a solely owned subsidiary of Newater Technology after the merger.

About 80.73% of the company’s overall ordinary shares unresolved as of the close of business in the British Virgin Islands on the share record date of February 10, 2021, supported by substitution at the extraordinary general meeting.

Conclusion of the Union is topic to the consummation or relinquishment of the concluding settings set out in the Merger Contract. The company will work with the other parties to the Union Contract towards satiating the closing settings and appropriately complete the Union. If and when finished, the company will become a private company, and its ordinary shares will no lengthier be registered or dealt with on any stock exchange.

Newater Technology announces the release of restriction in contradiction of its Going Private Deal

Newater Technology announced that the injunction obtained on an ex parte basis by Fulcan Capital Partners LLC has been discharged. Fulcan had pursued to stop the company, the board of directors, and Tiger wind Group Limited from taking any paces to continue with the planned “going private” union deal. 

In retort to the ex parte directive, the company applied to release the ban on the foundation that Fulcan had broken its responsibility of complete and forthright revelation when asking for the injunction. In clearing the injunction with instant effect, the BVI Court acknowledged the company’s tenders that Fulcan had misinformed the Court at the ex parte inquiry on March 16, 2021. 

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