NEW
YORK, Jan. 4, 2024 /PRNewswire/ -- Fresh2
Group Ltd. (NASDAQ: FRES) ("Fresh2" or "the Company"), a B2B
e-commerce and supply chain management company within the
restaurant and food industry, today announced that it has, through
its subsidiary Fresh2 Technology Inc., signed a definitive Stock
Purchase Agreement (SPA) for the acquisition of Youfood Group Inc.,
a business-to-customer cross-border e-commerce food platform, which
will connect Asian and South American food resources with
customers in North America. The
acquisition is expected to enhance access to a new customer
base.
According to the terms of the SPA, Fresh2 has agreed to acquire
100% of the issued and outstanding shares in Youfood in exchange
for 38,333,334 newly issued shares of Fresh2 Class A common
stock.
Haohan Xu, CEO of Fresh2, stated,
"We are committed to sustainable development in the food service
industry and to continuously bring diverse high-quality food
products to North American consumers. This acquisition provides us
with an excellent opportunity to integrate and enhance our
capabilities, thereby improving performance and expanding our food
supply chain ecosystem."
About Fresh2 Group Limited
Fresh2 Group Limited is engaged in the business-to-business
e-commerce and supply chain sectors. Committed to helping
restaurants lower procurement costs and improve efficiency, Fresh2
utilizes an advanced supply chain management system. By applying
strategic digital technologies and innovative business models,
Fresh2 is driving the online transformation of the restaurant
supply industry. Fresh2 aims to refine restaurant operations,
adding significant value to the food industry, and building a
global network of restaurateurs in the digital age. For more
information, visit: https://fresh2.co/investors.
Safe Harbor Statement
This announcement contains forward-looking statements as defined
under Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934, formulated in accordance with
the 'safe harbor' provisions of the Private Securities Litigation
Reform Act of 1995. These statements, reflecting the Company's
projections about its future financial and operational performance,
employ terms like 'believes,' 'estimates,' 'anticipates,'
'expects,' 'plans,' 'projects,' 'intends,' 'potential,' 'target,'
'aim,' 'predict,' 'outlook,' 'seek,' 'goal,' 'objective,' 'assume,'
'contemplate,' 'continue,' 'positioned,' 'forecast,' 'likely,'
'may,' 'could,' 'might,' 'will,' 'should,' 'approximately,' and
similar expressions to convey the uncertainty of future events or
outcomes. These forward-looking statements are based on the
Company's current expectations, assumptions, and projections,
involving judgments about future economic conditions, competitive
landscapes, market dynamics, and business decisions, many of which
are inherently challenging to predict accurately and are largely
beyond the Company's control. Additionally, these statements are
subject to a multitude of known and unknown risks, uncertainties,
and other variables that could significantly diverge the Company's
actual results from those depicted in any forward-looking
statement. These factors include, but are not limited to, varying
economic conditions, competitive pressures, and regulatory changes.
Because of these and other risks, uncertainties and assumptions,
undue reliance should not be placed on these forward-looking
statements. In addition, these statements speak only as of the date
of this press release and, except as may be required by law, the
Company undertakes no obligation to revise or update publicly any
forward-looking statements for any reason.
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SOURCE Fresh2