BRIEF-Jiuzi Holdings Enters Into A Non-Binding LOI For Acquisition Of Shenzhen Maigesong

Reuters04-03

April 3 (Reuters) - Jiuzi Holdings Inc :

* JIUZI HOLDINGS ENTERS INTO A NON-BINDING LOI FOR THE ACQUISITION OF SHENZHEN MAIGESONG

* JIUZI HOLDINGS INC: SHALL INVEST RMB 30 MILLION TO FUND CONSTRUCTION OF SHENZHEN MAIGESONG'S RECHARGEABLE LITHIUM BATTERY PRODUCTION LINE

* JIUZI HOLDINGS: SHALL INVEST RMB 30 MILLION TO FUND CONSTRUCTION OF SHENZHEN MAIGESONG'S RECHARGEABLE LITHIUM BATTERY PRODUCTION LINE

* JIUZI HOLDINGS INC - UNDER LOI, SHENZHEN JIUZI TO ACQUIRE 100% OF EQUITY OF SHENZHEN MAIGESONG FOR CERTAIN RESTRICTED SHARE COMPENSATION OF CO

* JIUZI HOLDINGS- LOI INCLUDES EARNOUT PROVISION WHICH PROVIDES THAT SHENZHEN MAIGESONG SHALL ACHIEVE REVENUE TARGET OF RMB 119.81 MILLION BY END OF DEC 2025

* JIUZI HOLDINGS-LOI INCLUDES EARNOUT PROVISION WHICH PROVIDES THAT SHENZHEN MAIGESONG SHALL ACHIEVE REVENUE TARGET OF RMB 504.22 MILLION BY END OF DEC 2026

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