HONG KONG, Jan. 23, 2018 /PRNewswire/ -- Sharing Economy
International, Inc. ("SEII" or "the Company") (NASDAQ: SEII) today announced that it has entered into Amendment No. 2 to the
Exclusivity Agreement with ECrent Capital Holdings Limited ("ECrent"), a private company incorporated in British Virgin Islands focusing on developing and operating of a global sharing and rental platform to
promote sharing economy across 30 countries and regions (the "Amendment"), which amends the Exclusivity Agreement dated
June 11, 2017 by and between the Company and ECrent (the "Exclusivity Agreement").
Following changes to the Board of Directors in December 2017, the Company also announced the
formation of a new special committee consisting of independent directors, to evaluate and negotiate on behalf of the Company for
the potential acquisition and/or business cooperation transaction(s) with ECrent. The special committee is also expected to
engage independent financial and other advisors in connection with such potential transactions.
There can be no assurances that the parties may enter into any agreement to do a transaction, and even if an agreement is
entered into, there can be no assurances that such transaction will be consummated.
About Sharing Economy International Inc.
Sharing Economy International Inc., through its affiliated companies, designs, manufactures and distributes a line of
proprietary high and low temperature dyeing and finishing machinery to the textile industry. The Company's latest business
initiatives are focused on targeting the technology and global sharing economy markets, by developing online platforms and rental
business partnerships that will drive the global development of sharing through economical rental business models. Moreover, the
Company will actively pursue blockchain technology in its existing and to-be-acquired business, enabling the general public to
realize the beauty of resource sharing.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary and
affiliated companies and certain potential transactions that they may enter into. These forward looking statements are often
identified by the use of forward looking terminology such as "believes," "expects" or similar expressions. Such forward looking
statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected. The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's
periodic reports that are filed with the Securities and Exchange Commission and available on its website, including factors
described in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our
Form 10-K for the year ended December 31, 2016 and in our Form 10-Q for the quarter ended
September 30, 2017. All forward-looking statements attributable to the Company or to persons acting
on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The
Company does not assume a duty to update these forward-looking statements.
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SOURCE Sharing Economy International, Inc.