Hong Kong, Hong Kong--(Newsfile Corp. - December 7, 2017) - Wigi4you, Inc. (OTC Pink: WGYY) (the "Corporation") today announced that its wholly owned subsidiary, Guangzhou Shengjia Trading Co., Ltd. of Guangzhou, China ("Guangzhou Shengjia") has entered into an agreement in which Guangzhou Shengjia would acquire 10% interest of Alipay payment code business development project ("Alipay Project") from Guangzhou Renhai Network Technology Co., Ltd. ("Guangzhou Renhai"). Guangzhou Renhai is a technology company focusing in network research and software development, and has signed an Alipay Business Cooperation Agreement with Alipay.com Co., Ltd. In exchange for the 10% interest in the Alipay Project, the Corporation has agreed to issue 3,000,000 shares of its common stock to Guangzhou Renhai at a deemed price of $0.50 per share.
Guangzhou Renhai, while maintaining 90% interest of the project, will continue to be responsible for the management and overall supervision of the project, and Guangzhou Shengjia will carry out various support functions, including analysis and management of customer data, analysis market trends and assistance in customer relation.
Certain statements contained in this release are forward-looking statements and are based on future expectations, plans and prospects for the Corporation's business, operations and future developments that involve a number of risks and uncertainties. The Corporation's forward-looking statements in this release are made as of the date hereof, and the Corporation disclaims any duty to supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise. The Corporation is identifying certain forward-looking information regarding, among other things, the acquisition of 10% interest of the Alipay Project in Guangzhou, China. Actual events or results may differ materially from those contained in these forward-looking statements. Important factors that could cause further events or results to vary from those addressed in the forward-looking statement include, without limitation, risks and uncertainties arising from the ability of the group to successfully carry out the development of Alipay Project, uncertainties relating to the ability to realize the expected benefits of the Alipay Project; unanticipated or unfavorable regulatory matters; general economic conditions in the region and industry which the Corporation operates, and other risk factors as discussed in the Corporation's other filings made by the Corporation from time to time with Securities Commissions.
For further information please contact:
Yin Ling Elaine Wan, Director
Telephone: (852) 2331-7933
Facsimile: (852) 2330-0122