Good Life China retail store
Good Life China Corporation will spin off its logistics division to a Chinese based buyer, an operating subsidiary of a USA based publicly traded company.
The Company has reached a preliminary agreement with a China based company. The deal is tentatively valued at $1.5 million. This will be comprised of a cash payment of $300,000 and stock issuance of the purchaser’s company.
Company CEO Dongmei Jia explains “To those that have been following Good Life for a while now, and as per our previous filings, it is no secret that we have been seeking a buyer for our logistics division for some time now. As previously announced, the Good Life has transitioned away from being a traditional franchised retail store chain. We have developed an innovative and highly sophisticated end-to-end supply chain management platform, from which it generates revenue from both the supply side and retail side of the business.’
‘This has eliminated financial risks and tight margins normally associated with a traditional retail chain business model.’
Source: MarketWatch
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