Future FinTech Announces Special Shareholders Meeting

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Jan 22, 2018, 09:00 ET

XI'AN, China,, Jan. 22, 2018 /PRNewswire/ -- Future FinTech Group Inc. (NASDAQ: FTFT - News) ("Future FinTech", "FTFT" or "the Company"), a financial technology company and integrated producer of fruit-related products, today announced that it will hold a Special Meeting of Shareholders (the "Special Meeting") on March 13, 2018, at 10:00 am China time / March 12, 2018, at 10:00 pm US Eastern Time, at the Company's principal executive offices located at 23F, China Development Bank Tower, No. 2, Gaoxin 1^st Road, Xi'an, Shannxi, China.

The Special Meeting is being held for the following purposes:

To approve the spin-off of the Company's wholly-owned subsidiaries, SkyPeople Foods Holdings Limited (BVI) ("SkyPeople BVI") and FullMart Holdings Limited (BVI) ("FullMart"), through a pro rata distribution of the ordinary shares of each of SkyPeople BVI and FullMart to holders of the Company's common stock at the close of business on January 22, 2018, the record date (the "Spin-Offs");
To approve an amendment to the Second Amended and Restated Articles of Incorporation of Future FinTech, which would increase the amount of authorized shares of common stock, par value $0.001 per share, of Future FinTech from 8,333,333 to 60,000,000;
To adopt and approve the Future FinTech Group Inc. 2017 Omnibus Equity Plan;
To approve the issuance of an aggregate 7,111,599 shares of Future FinTech's common stock, par value $0.001 per share, pursuant to certain Creditor's Rights Transfer Agreements between a wholly owned subsidiary of the Company and sellers of such creditor's rights;
To approve the issuance of an aggregate 11,362,159 shares of Future FinTech's common stock, par value $0.001 per share, pursuant to a Share Purchase Agreement between the Company and a certain investor; and
To approve a proposal to grant discretionary authority to the Company's Chief Executive Officer to adjourn the Special Meeting for the purpose of soliciting additional proxies to approval Proposals 1 through 5.

A full explanation of the items listed above and important related information is contained in the Company's filings of its Notice of Meeting and Proxy Statement with the Securities and Exchange Commission (the "SEC") and can be accessed at the SEC's website at www.sec.gov. In evaluating the proposals to be presented at the Special Meeting, a shareholder should carefully read the Proxy Statement and especially consider the factors discussed in the section of the Proxy Statement entitled "Risk Factors".

Shareholders may attend the special meeting in person or telephonically by dialing 1-866-395-5819 toll-free within the United States, 10-400 682 8609 toll-free within China, or 1-706-643-6986 outside the United States and China (toll charged). Shareholders attending telephonically should ask for the "Future FinTech Group Inc. 2018 Special Meeting of Shareholders / Conference ID 9198969".

A shareholder must complete the proxy card or be present in person to vote at the meeting. Shareholders that participate in the meeting via teleconference will be on listen only mode and will not be able to ask questions or vote their shares using the teleconference line. If you anticipate participating in the special meeting via teleconference and have questions, please provide such questions in advance to the Company's external investor relations representative at [email protected] or 646-694-8538 and the Board will address those questions as appropriate during the meeting.

About Future FinTech Group Inc.

Future FinTech Group Inc. ("Future FinTech", "FTFT" or the "Company"), is a fintech company that is developing an operational platform to utilize blockchain technology to participate in the shared economy, as well as for the distribution, marketing and sales of various products. The Company's legacy business is the production and sales of fruit juice concentrates, fruit beverages, and other fruit related products in China and certain overseas markets, and FTFT is utilizing fintech solutions to operate and grow this business. The Company is also developing a regional agricultural products commodities market with the goal to become a leader in agricultural finance technology. For more information, please visit http://www.ftft.top/.

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2016 and otherwise in our SEC reports and filings, including the proxy statement for the 2017 annual meeting. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

SOURCE Future FinTech Group Inc.