Future FinTech Indicators Definitive Settlement to Buy UK Cash Fee Service Firm

NEW YORK, September 7, 2021 / PRNewswire / – Future FinTech Group Inc. (NASDAQ: FTFT) (“hereinafter referred to as” Future FinTech “,” FTFT “or” the Company “), a leading blockchain-based e-commerce company and fintech Service provider announced today that on September 1, 2021the Company signed a definitive agreement (the “Agreement”) to acquire 100% of the equity of Khyber Money Exchange Ltd. (“Khyber Exchange”) by Rahim Shah | (the seller”).

Khyber Exchange is a money transfer company with a platform to transfer money through one of its agent locations or through its online portal, mobile platform or over the phone. Khyber Exchange was integrated into February 2009, is headquartered in the UK and has offices in Germany and Italy; his website is https://khyberexchange.com.

According to the agreement, the company will acquire 100% of the equity of Khyber Exchange for a purchase price of € 685,000 (approx US $ 820,170). The company conducted extensive operational, legal, and financial due diligence to achieve this agreement. The Khyber Exchange is regulated by the UK’s Financial Conduct Authority (FCA); the acquisition must be approved by the FCA prior to formal closure.

More detailed information about the agreement can be found on Form 8-K and filings with the Securities and Exchange Commission September 7, 2021.

Shanchun Huang, Chief Executive of Future FinTech, commented, “We are excited about this acquisition as it further expands our presence as a fintech and further diversifies our geographic reach in terms of international business transactions and cash flows. We believe there will be synergies with other financial services businesses that we develop. “

“Khyber Exchange will also be an excellent fit for FTFT UK Limited, our recently established subsidiary that provides us with the operational base for developing the fintech business in Europe. Our goal is to become a diversified fintech company that seizes current opportunities and integrates them into a comprehensive business platform, and to create a company that can meet the current financial needs of its customers and positively transform the traditional banking sector to provide innovative products and services to bring to market, ”concluded CEO Huang.

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Rahim Shah |, Chief Executive Officer of Khyber Exchange, stated, “As a global money transfer company, Khyber Exchange can send money to over 130 countries through its agents, online portal, mobile platform or over the phone. Fund transfers can be collected from their offices or via the beneficiary’s bank account, with the funds transferred being credited within 24 to 48 hours. Khyber Exchange guarantees its customers that its transactions are executed at the best possible exchange rate, are secure, reliable, and processed instantly. It has amassed a significant number of loyal customers over the past decade. The acquisition by FTFT will help Khyber Exchange run its business and operations in Asiaespecially in the fast growing Chinese market. “

About Future FinTech Group Inc.

Future FinTech Group Inc. (“Future FinTech”, “FTFT” or the “Company”) is a leading blockchain e-commerce company and a Florida-based financial technology service provider. The company’s business activities include a blockchain-based online shopping mall platform, Chain Cloud Mall (“CCM”), a cross-border e-commerce platform (NONOGIRL), an incubator for blockchain-based application projects and financial services for the supply chain industry . The company is also engaged in the development of blockchain-based e-commerce technology as well as financial technology. For more information, please visit https://ftft.com/.

Safe Harbor Statement

Certain statements made in this press release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Stock Exchange Act. Forward-looking statements include statements relating to our beliefs, plans, goals, goals, expectations, expectations, beliefs, estimates, intentions and future performance and involve known and unknown risks, uncertainties and other factors that are beyond our control and are related thereto could cause actual results, performance, capital, property or achievements of the company to differ materially from the future results, performance or achievements expressed or implied in such forward-looking statements. All statements that are not historical facts are statements that may be forward-looking statements. You can make these forward-looking statements through our use of words such as “may”, “will”, “anticipate”, “assume”, “should”, “state”, “would”, “believe”, “consider,” “expect” , “estimate,” “continue,” “plan,” “show,” “project,” “might,” “intend,” “aim,” and other similar words and phrases for the future.

All forward-looking statements, whether written or oral, attributable to us are expressly restricted in their entirety by this caution, including, but not limited to, the risks and uncertainties set out in our Annual Report on Form 10-K for the December 31, 2020 ending Year and our other reports and filings with the SEC. Such reports are available upon request from the Company or the Securities and Exchange Commission, including on the SEC’s web site at https://www.sec.gov. We have no obligation or undertake to update, revise or correct any forward-looking statements after this date or after the respective date on which such statements are otherwise made.

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SOURCE Future FinTech Group Inc.

SMC Leisure Indicators Definitive Buy Settlement to Purchase Spectrum Leisure LLC

SAN FRANCISCO, CA / ACCESSWIRE / February 24, 2021 / SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC PINK: SMCE), a provider of products and services to the entertainment industry, digital communications and content distribution solutions, is pleased to announce that it has entered into a definitive purchase agreement to acquire 100% of Michigan-based Spectrum Entertainment LLC (“Spectrum LLC”) Has. for the equity of SMC Entertainment. SMC expects this acquisition to close soon and will publish the terms of the acquisition when it is closed.

Spectrum Midway & Carnival, the marketing brand name of Spectrum LLC, specializes in rides, games, food and fun for the whole family. Spectrum LLC has been in operation for over 25 years. Revenue for the 2018 and 2019 fiscal years was $ 597,153 and $ 618,204, respectively. Spectrum LLC saw a significant drop in revenue in FY 2020 due to the troubled US economy and expects revenues to recover in FY 2021 as the economy opens up and market conditions improve. At the end of fiscal 2020, Spectrum LLC’s net assets were $ 1,569,000. All figures are unaudited.

SMC will use this acquisition to expand its business plan to include established and proven revenue generating companies that require minimal working capital to operate their existing infrastructure. SMC intends to invest additional capital to increase Spectrum LLC’s market share and add additional games and rides.

Rick Bjorklund, President and CEO of SMC stated: “Since joining the SMC team in 2018, we have continued to seek acquisition opportunities in fragmented markets with an appropriate acquisition valuation. This acquisition provides SMC with additional revenue and strengthens our material assets We believe that there are more strategic acquisitions in this area and we will invest our time in finding the right synergetic expansion opportunities. “

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Dan Barbacovick, Founder and Owner of Spectrum LLC, said: “We are pleased that SMC Entertainment has confidence in our growth strategy. Rick Bjorklund has extensive experience in the community events business that fits very well with Spectrum’s goals and visions ! “

About Spectrum Entertainment LLC
Spectrum Entertainment LLC has provided rides, games, food and fun for all the family for over 25 years through its marketing brand Spectrum Midway & Carnival. For more information visit www.spectrumcarnival.com.

About SMC Entertainment, Inc.
SMC Entertainment, Inc. is a provider of products and services to the entertainment industry, digital communications and media content marketplaces. Our multidisciplinary sales approach offers a platform to increase sales growth through acquisitions. For more information visit www.smceinc.com.

Press contact:
Ron Hughes
Operations manager
SMC Entertainment, Inc.
Ron.Hughes.operations@gmail.com

Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. These statements contain statements regarding the intent, belief, or current expectations of the company, its members of management and assumptions on which such statements are based. Potential investors are cautioned that such forward-looking statements are no guarantee of future performance and involve risks and uncertainties and that actual results could differ materially from those anticipated in such forward-looking statements.

SOURCE: SMC Entertainment, Inc.

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