The9 Limited Announces Share Exchange Transaction
SHANGHAI, Sept. 3, 2018 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) (the "Company" or "The9"), an established Internet company, today announced that it has signed a definitive agreement with Leading Choice Holdings Limited, a company incorporated in Hong Kong ("Leading Choice"), and the shareholder of Leading Choice for the issuance and sale of 21,000,000 ordinary shares (which equals to 7,000,000 American Depositary Shares) of the Company, par value of US$0.01, to Leading Choice at US$0.714 per ordinary share (which equals to US$2.14 per American Depositary Share), in exchange for a minority equity interest in Leading Choice as consideration (the "Transaction"). The completion of the Transaction is subject to customary closing conditions.
About The9 Limited
The9 Limited is an Internet company based in China. The9 has stepped into blockchain-related business. The9 also develops and/or operates its proprietary mobile games, including the CrossFire New Mobile Games, Audition mobile, Fashion Pop and Q Jiang San Guo.
About Leading Choice
Leading Choice is operating under the brand name "Easyhashing" and is engaged in the sales and system installation of assembled cryptocurrency mining equipment and provision of cryptocurrency mining equipment hosting and operating services. Leading Choice has four hosting facilities in Hong Kong (www.easyhashing.com).
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