TAIPEI, November 21, 2014 /PRNewswire/ — NowNews Digital Media Technology Co. Ltd. ("the Company") (OTCQB: NDMT), a Nevada corporation, announced on Nov.14 2014 that it completed a Share Exchange Agreement pursuant to which all of the capital stock of Worldwide Media Investments Corp., an Anguilla corporation ("Worldwide") were exchanged for shares of common stock of the Company on a one-for-one basis (the "Share Exchange"), making Worldwide a wholly owned subsidiary of the Company.
Worldwide, through its wholly owned subsidiary, Sky Media Investments Co., Ltd. ("Sky Media"), owns 66% of the issued and outstanding capital stock of NOWnews Network Co., Ltd., a Taiwan corporation ("NOWnews"), which is a digital media company engaged in production, collecting and distribution of news and information through its website and applications on mobile devices. Immediately following the closing of the Share Exchange, the Company had a total of 22,412,000 issued and outstanding shares of common stock. As a result of the Share Exchange, Worldwide and Sky Media become the Company’s wholly owned subsidiaries and NOWnews is now the Company’s majority owned subsidiary.
"We are excited that the transaction has completed," said Alan Chen, Chairman of the Company, "NOWnews is the largest online self-produced news content provider of Taiwan and the only Taiwanese online news website fully accessible in Mainland China. We are very pleased to acquire the business of NOWnews and have confidence in its future operation and development, as well as the future performance in the capital market."
About NowNews Digital Media Technology Co. Ltd.
NowNews Digital Media Technology Co. Ltd. (OTCQB: NDMT) is a U.S.-listed holding company, through its subsidiaries, engaging in creating, collecting and distributing news and information through its website and applications on mobile phones or tablets.
This news release contains "forward-looking statements", which may include, but is not limited to, statements that express the company’s intentions, beliefs, expectations, strategies, predictions or any other statements relating to its future activities or other future events or conditions. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of NowNews Digital Media Technology Co. Ltd. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and NowNews Digital Media Technology Co. Ltd. disclaim, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
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