NEW YORK, March 11, 2020 /PR Newswire/ -- TMSR Holding
(NASDAQ: TMSR), an eco-technology company, announces today that it
has closed the acquisition of Sichuan Wuge Network Co., Ltd. (WG),
its first strategic acquisition of 2020 as part of its diversified
development agenda. The completion of the transaction is subject to
the audit of WG.
Dr. Wei Xu is the inventor of
Codechain technology and the QR code scanning patent (U.S. patent
No.: US 9,204,241 Β2) and founder of WG. Dr. Xu has started his new
role as co-chairman of TMSR, as of February
26, 2020.
To date, WG has signed over 200 contracts with revenue of about
130 million RMB (18,689,975 USD).
With WG's already signed contracts, TMSR believes that the
Company's performance will grow steadily in 2020 with further
investment in the field of digital technology, thereby maximizing
shareholders' value.
About TMSR Holding Company Limited
Founded in 2009, TMSR Holding Company Limited engages in the
research, development, and sale of an array of solid waste
recycling systems for the mining and industrial sectors, the
wholesales and sale of fuel materials, harbor cargo handling
services and production and sales of coating materials in the PRC.
It provides end users in these markets with a clean alternative to
traditional waste disposal by significantly reducing solid waste
discharge into the environment and enabling such users to extract
value from valuable metals and other industrial waste
materials.
For more information about TMSR, please
visit www.tmsrholding.com.
Safe Harbor Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, including certain plans, expectations, goals, and
projections, which are subject to numerous assumptions, risks, and
uncertainties. These forward-looking statements may include, but
are not limited to, statements containing words such as "may,"
"could," "would," "plan," "anticipate," "believe," "estimate,"
"predict," "potential," "expects," "intends", "future" and
"guidance" or similar expressions. These forward-looking statements
speak only as of the date of this press release and are subject to
change at any time. These forward-looking statements are based upon
management's current expectations and are subject to a number of
risks, uncertainties and contingencies, many of which are beyond
the Company's control that may cause actual results, levels of
activity, performance or achievements to differ materially from any
future results, levels of activity, performance or achievements
expressed or implied by such forward-looking statements. The
Company's actual results could differ materially from those
contained in the forward-looking statements due to a number of
factors, including those described under the heading "Risk Factors"
in the Company's public filings with the Securities and Exchange
Commission, including the Company's annual report on 10-K. The
Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required under applicable
law.
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SOURCE TMSR Holding Company Limited