WENZHOU, China, Dec. 29, 2017 /PRNewswire/ -- ZK International Group Co., Ltd. (NASDAQ: ZKIN) ("ZKIN" or the "Company"), a designer, engineer, manufacturer and supplier of patented high-performance stainless steel and carbon steel pipe products for projects that require sophisticated water or gas pipeline systems, is pleased to announce that it is receiving a strategic investment from NGST Limited, which is owned by world renowned businessman, politician, advisor, philanthropist and Founder of Blockchain Centre, Antanas Guoga and Exigent Capital, a firm specializing in cryptocurrency trading (collectively the "investors").
On December 28, 2017, ZK International Group Co., Ltd. (the "Company") completed a closing of private placement offering (the "Offering") of restricted ordinary shares of the Company, (the "Shares"), at a purchase price of US$6.00 per share, for an aggregate purchase price of $520,000. Upon the closing, the Company issued a total of 86,666 restricted ordinary shares to the investors in the Offering, subject to customary restrictions pursuant to Rule 144 of the Securities Act of 1933, as amended and the shareholders understood that the shares of our securities may not be sold or otherwise disposed of without registration under the Securities Act or an applicable exemption.
The Shares were offered and sold to the investors in the Offering pursuant to that certain subscription agreements entered into on December 28, 2017 (the "Subscription Agreement").
The foregoing descriptions of the Offering and Subscription Agreement, are qualified in their entirety by reference to the provisions of the Form of Subscription Agreement filed as Exhibit 10.1 to the Current Report on Form 6-K which was filed with the SEC at www.sec.gov.
Mr. Jiancong Huang, President and CEO of ZK International, stated, "I am excited about the investment, not only for its economic benefit, but also because of the investors' industry know-how and knowledge that they bring to the Company."
About ZK International Group Co., Ltd.
ZK International Group Co., Ltd. is a China-based designer, engineer, manufacturer and supplier of patented high-performance stainless steel and carbon steel pipe products that require sophisticated water or gas pipeline systems. The Company owns 28 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZK International is preparing to capitalize on the $850 Billion commitment made by the Chinese Government to improve the quality of water, which in its current supply state is 70% unfit for human contact. ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee that is focused on supplying steel piping for the multi-billion dollar industries of Gas and Water sectors. ZK has supplied stainless steel pipelines for over 2,000 projects, which include the Beijing National Airport, the "Water Cube" and "Bird's Nest", which were venues for the 2008 Beijing Olympics. Emphasizing superior properties and durability of its steel piping, ZK International is providing a solution for the delivery of high quality, highly sustainable, environmentally sound drinkable water to not only to the China market but to international markets such as Europe, East Asia and Southeast Asia.
For more information please visit www.ZKInternationalGroup.com. Additionally, please follow the Company on Twitter, Facebook, YouTube, and Weibo. For further information on the Company's SEC filings please visit www.sec.gov.
Safe Harbor Statement
This news release contains forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and many of which are beyond the control of ZK International. Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, as well as other risk factors that are described more fully in ZK International's registration statement on Form F-1 that was filed with the SEC. Although ZK International believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by ZK International or any other person that their objectives or plans will be achieved. ZK International does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
KCSA Strategic Communications
Valter Pinto, Managing Director
PH: +1 (212) 896-1242
SOURCE ZK International Group Co., Ltd.