In the original release, it reads:
"The purchase price of the acquisition will be1.5 million shares of Nocera common stock and 1 million shares of Nocera's Class C warrants.
Is corrected to read as follows:
"The purchase price of the acquisition was 1.5 million shares of Nocera common stock."
Amended Press as the following:
TAIPEI, TAIWAN / ACCESSWIRE / June 7, 2023 / Nocera, Inc. (NASDAQ:NCRA) ("Nocera" or the "Company"), a fully integrated sustainable seafood company focusing on manufacturing and operating land based Recirculatory Aquaculture Systems ("RASs"), today announced correction of the the purchase price.
The Acquisition Allows the Company to Enter Douyin ( Chinese Tiktok - A Video and Live Sales Sharing Market)
Potential of $14 million monthly General Merchandise Revenue (GMV) for Fiscal 2024
Nocera, Inc. (NASDAQ:NCRA) ("Nocera" or the "Company"), a fully integrated sustainable seafood company focusing on manufacturing and operating land based Recirculatory Aquaculture Systems ("RASs"), today announced its acquisition of 100% of the issued and outstanding shares of Zhe Jiang Xin Shui Hu Digital Information, Ltd. ("Xin Shu Hu or XSH"), a Chinese corporation located in Hang Zhou City of China. The purchase price of the acquisition was 1.5 million shares of Nocera common stock.
Xin Shui Hu is a well-established mobile sales and live video streaming company who has a significant amount of accounts currently on the Douyin. The Douyin application allows users to create and share videos and merchandise to its subscribers. The Douyin hosts many accounts held by famous and up and coming chefs and restauranteurs who live stream cooking shows to promote themselves, their business and their merchandise. The Douyin platform is similar to all aspects of a major shopping network and using live streaming application whose subscribers are able to post video content on any subject via a 5G mobile network.
This acquisition is part of Nocera's vertical integration effort of expanding and selling seafood into the business-to-consumer market to earn a better price point. Xin Shui Hu earns sales revenue but also sponsorships from brand products and brand advertising revenue.
Jeff Cheng, Nocera's Chief Executive Officer, commented, "This acquisition is our first step and first platform entering the Douyin video streaming and merchandise sales market. Our goal is to continue to acquire new accounts with 100 million fan bases to reach the largest audiences possible and incur the most revenue. Our year-end goal is to acquire 100 chefs and restauranteurs and 100 Douyin accounts by the end of 2023. These goals will allow us to target General Merchandise Revenue (GMV) of $30 million for 2023 and monthly GMV of $14 million for 2024."
About Nocera, Inc.
Nocera (NASDAQ:NCRA) is a fully integrated sustainable seafood company that provides land-based recirculation aquaculture systems for both fresh and saltwater fish and invests in fish farms by building high-tech RASs. The Company's main business operation consists of the design, development, and production of large-scale RASs fish tank systems, (aquaculture) for fish farms along with expert consulting, technology transfer, and aquaculture project management services to new and existing aquaculture facilities and operators. For more information, please visit the company's website at www.nocera.company.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are inherently subject to risks and uncertainties. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should," "will" and similar expressions as they relate to Nocera are intended to identify such forward-looking statements. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in methods of marketing, delays in manufacturing or distribution, changes in customer order patterns, changes in customer offering mix, and various other factors beyond the Company's control. Actual events or results may differ materially from those described in this press release due to any of these factors. Nocera is under no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Nocera, Inc.