HONG KONG, Aug. 15, 2018 /PRNewswire/ -- Sharing
Economy International Inc. ("SEII" or "the Company") (NASDAQ: SEII)
today announced that its wholly-owned subsidiary, Sharing Economy
Investment Limited ("SEII"), has entered into a License Agreement
with Ecrent Capital Holdings Limited ("ECRENT"), regarding the
grant of an exclusive and sublicensable license from ECRENT to SEII
to utilize certain software and trademarks in order to develop,
launch, operate, commercialize, and maintain an online website
platform in United Kingdom,
Germany, France, Poland, Switzerland, Netherlands, Denmark, Russia, Italy, Spain,
Portugal and Greece. In return, SEII shall issue to ECRENT
360,000 shares of restricted common stock. ECRENT will guarantee
that the operation of its related websites, mobile applications and
business services will contribute revenue of US$20,000,000 and gross profit of US$3,880,000 from the closing date of the License
Agreement through December 31,
2019.
"This agreement is an extension of our licensing with ECRENT in
Asia, where we are seeing good
progress and large market opportunities to come," said Parkson Yip, Vice President of SEII. "Under our
current licensing agreement with ECRENT covering the Asian region,
we have begun local business development activities and early
indications are promising. Therefore, we have decided to move
forward with this agreement to cover the European market as well.
The new agreement provides SEII with another potential income
opportunity in the coming year, as well as an expansion of our
market reach into Europe. The
sharing economy has been well accepted in European communities, so
we believe a sharing classified advertising platform like ECRENT
can open up more channels for sharing opportunities among consumers
and can be adapted in the region quickly. We are seeking local
business partners to launch the local ECRENT operations who may
also assist us with the localized deployment of other SEII
affiliated solutions as well, such as BuddiGo and
Anyworkspace."
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. For more information visit
www.seii.com
About Ecrent Capital Holdings Limited
ECRENT is one of the largest and most extensive online global
sharing platforms which encourages people to share through renting
to protect our environment. A number of categories of products and
services on wedding, properties, venues, transport, household,
tools, equipment, leisure, fashion, accessories, professional
services, arts, and public services, can be rented through its
platform. For more information visit www.ecrent.com
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,
2017 and the Form 10-Q for the quarter ended June 30, 2018. 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.