Dragon Jade International Limited (OTCPK:DGJI) entered into a definitive agreement to acquire 80% stake in China Management Services Limited from Greater China Wine Distributor Limited for HKD 3.7 million on August 24, 2018. Consideration will be comprise of as HKD 2 million in cash for the repayment of the loan of HKD 2 million due to Kirin Jade Holdings Limited by Dragon Jade International Limited on behalf of Greater China Wine Distributor Limited which was deemed as payment under this agreement) and issuance of 0.1 million restricted common shares of Dragon Jade International Limited, to be paid on completion. Upon the completion of the agreement, Greater China Wine Distributor Limited shall nominate one person or corporation as Director in the Board of Directors of China Management Services Limited. Upon the completion of the agreement, Dragon Jade International Limited shall nominate three persons or corporations as Directors in the Board of Directors of China Management Services Limited. Completion shall take place within 30 days after the signing of the agreement. Dragon Jade International Limited believe that the acquisition will reinforce its financial strength.