Regal has finalized a share exchange agreement with UHF Logistics Ltd., a Hong Kong-incorporated company responsible for development of RFID solutions for supply chain applications, parking management, the pig breeding industry, and anti-theft and secured access applications.
Under the terms of the agreement Regal and its shareholders will sell a combined total of 26,500,000 shares of its common stock to UHF Logistics shareholders and senior management in exchange for 100% of the common stock of UHF.
The agreement provides that for a period of one year, 12,000,000 shares of the company’s common stock issued pursuant thereto shall be held in escrow and shall be released subject to certain escrow conditions set forth in the agreement.
The transaction is still subject to the fulfillment of customary closing conditions, including the receipt of the necessary regulatory approvals. ![[end]](/resources/bullet/rfidnews-4.gif)
