King Resources, Inc. acquired Powertech Management Limited from Silver Bloom Properties Limited and FU Wah for $6 million.
March 25, 2022
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King Resources, Inc. (OTCPK:KRFG) acquired Powertech Corporation Limited from Silver Bloom Properties Limited and FU Wah for $6 million on December 15, 2021. As per the terms of the transaction, King Resources shall issue 2.8 billion shares in exchange of 10,000 shares in Powertech Corporation to the sellers. Silver Bloom Properties Limited and FU Wah received 2.1 billion and 709 million shares in King Resources, respectively.
King Resources, Inc. (OTCPK:KRFG) completed the acquisition of Powertech Corporation Limited from Silver Bloom Properties Limited and FU Wah on December 15, 2021.
King Resources, Inc. is a holding company. The Company, through its subsidiaries, is engaged primarily in the development of smart power supply solutions as well as lifestyle products in Hong Kong. The Company has five wholly owned subsidiaries, OneSolution Holdings Limited (OSH), Powertech Management Limited (Powertech), Powertech Corporation Limited (Powertech Corp), OneSolution Management Limited (OSM) and OneSolution Innotech Limited (OSIL). Powertech Corp is focused on research and development solutions, sales of its own brand smart power supply products and development of Internet of things (IoT) products across its smart home, smart office and smart fitness ecosystem. OSIL is engaged in selling lifestyle products. OSIL acts as the distributor of five brands, namely Aqigo, Brusheva, Qivation, Paudin, and Team Cuisine. It provides solutions for other companies who are in the fields of developing high power, high voltage power supply and wireless charging technologies.
KING RESOURCES, INC. 
