TAIPEI CITY, Taiwan, June 6, 2016 /PRNewswire/ -- NowNews Digital Media Technology Co., Ltd. ("NDMT" or "the Company") (OTCQB: NDMT), a media company that provides news and multimedia platform service, is pleased to announce that the Company has entered into a non-binding Letter of Intent with Lao Development Holding Limited ("Lao Development") and Lao Construction Bank ("Lao Construction Bank") in connection with the Company's acquisition of 19% of the issued and outstanding equity interest of Lao Construction Bank from Lao Development for approximately 2 million share of common stock of the Company.
On June 1, 2016, the Company also entered into a non-binding Letter of Intent with Earl International Development Sdn.Bhd ("Earl"), the general contractor of "HOMES" project, a Malaysia government sponsored housing project. The Company will be engaged as the media outlet to facilitate the bidding process for Earl.
Aixinjueluo Yuhao, a director of the Company, is the majority shareholder of Lao Construction Bank and the chairman of board of Earl. The transactions contemplated in the two Letter of Intents have been approved by the board of directors of the Company.
"NDMT has always been committed to becoming the most influential media company in the global Chinese market", says Shuo-Wei Shih, CEO of NDMT. "It is pleasing to see, by signing the two Letter of Intents with Earl International and Lao Development, we have taken a new step in entering the Malaysian and Laos markets."
About Nownews Digital Media Technology Co., Ltd.
NowNews Digital Media Technology Co. Ltd. (OTCQB: NDMT) is a U.S.-listed holding company, through its subsidiaries, engaging in creating, collecting and distributing news and information through its website and applications on mobile phones or tablets. NowNews is also the largest online self-produced news content provider of Taiwan and the only Taiwanese online news website fully accessible in Mainland China. After launched Professional Category news brands, we launched Nownews Mobile Web and Apps. In July 2013, Nownews launched a new concept newspaper "NOWnews", which is the first O2O case in Taiwan. Nownews owns a great amount of brands, such as the largest online self-produced news content provider "NOWnews", the biggest Citizen Journalist platform "WEnews", online video shopping website "NOWshopping", etc. Its partners include CCTV, Yahoo, MSN, Hinet, Yam, Sina and other telecoms operators.
This news release contains "forward-looking statements", which may include, but is not limited to, statements that express the company's intentions, beliefs, expectations, strategies, predictions or any other statements relating to its future activities or other future events or conditions. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Nownews Digital Media Technology Co. Ltd. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Nownews Digital Media Technology Co. Ltd. disclaim, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
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SOURCE Nownews Digital Media Technology Co. Ltd.