HANGZHOU, China, Sept. 12, 2018 /PRNewswire/ -- Dragon
Victory International Limited ("LYL" or the "Company"), a company
offering reward-based crowdfunding opportunities and quality
incubation services to entrepreneurs in China, announced today that Zhejiang Zhanlue
Network Technology Co., Ltd. ("Zhanlue") has engaged the Company as Zhanlue's U.S. initial public
offering (IPO) advisor, pursuant to a Project Management Agreement
(the "Agreement") with Zhanlue on September
10, 2018. Zhanlue is a
diversified network technology company dedicated to the development
of online and offline new retail, live content creation, online and
offline advertising and offline live broadcast construction,
operation and promotion.
Pursuant to the Agreement, the Company, as Zhanlue's U.S. IPO
advisor, is expected to act as Zhanlue's primary coordinator in the
U.S. IPO process, to assist with engaging various service providers
and underwriters in the IPO process, undertaking the necessary
corporate restructuring, assisting with due diligence, coordinating
the various aspects of the IPO process, and coordinating financial
and public relations affairs. As consideration to enter into the
Agreement, Zhanlue agreed to remit a service fee deposit.
Mr. Jianjun Sun, Chairman and
Chief Executive Officer of Dragon Victory International Limited,
commented, "The cooperation between Zhanlue and the Company is a
natural fit. We are very optimistic about Zhanlue's business model
and also greatly recognize the value of its strategic business plan
as well as recognize the competitiveness of its professional and
innovative team."
Mr. Jianjun Sun continued, "We
are honored to serve Zhanlue as an IPO advisor for its U.S. IPO
process. As a crowdfunding and incubation listed company, we took
two years to complete our U.S. listing from the inception of our
Company. We look forward to sharing our listing experience with
enterprises to create a business ecology of funding capital, public
policy and resource sharing, so that companies can enjoy the
benefits of resource integration and capital and the convenience
brought by public policies in the process of entering the U.S.
capital market. We believe our integrated resources and experience
will help shorten the lifecycle of listing in the U.S., reduce the
cost of listing, and promote the transformation and upgrading of
companies. For both Dragon Victory and Zhanlue, signing this
agreement is a mere beginning to a great future. We will, as
always, face our challenges with the entrepreneur's mentality,
enable our client enterprises to avoid detours, and quickly be part
of the capital market to maximize corporate profits."
Mr. Suozhu Wang, Chief Executive Officer of Zhejiang Zhanlue
Network Technology Co., Ltd., commented, "With the engagement with
Dragon, we feel more confident about Zhanlue's future business
development. Our core business is new retail which is in line with
the mainstream consumption model in China. We believe we can achieve mutually
beneficial results through our alliance with Dragon Victory. We
expect to further deepen the breadth and depth of cooperation in
the future and as we lay solid foundation for the development of
Zhanlue."
About Zhejiang Zhanlue Network Technology Co., Ltd.
Headquartered in Hangzhou,
Zhejiang Zhanlue Network Technology Co., Ltd. ("Zhanlue") is a
diversified network technology company dedicated to the development
of online and offline new retail, live content creation, online and
offline advertising and offline live broadcast construction,
operation and promotion. Currently, Zhanlue's business operates
across China including
Beijing, Shanghai, Hangzhou, Guangzhou, Shenzhen, Chongqing, Jiangsu. Zhanlue works closely with a number
of long-term strategic partners, including film and television
cooperation as well as cooperation with senior industry giants.
With scientific development concepts and business philosophy,
Zhanlue strives to become an influential and innovative
entertainment technology company. More information is available at
www.hzzlsych.com.
About Dragon Victory International Limited
Incorporated in 2015 and headquartered in Hangzhou, Dragon Victory International Limited
("LYL" or the "Company") offers reward-based crowdfunding
opportunities in China to
entrepreneurs and funding sources through a fast-growing
reward-based crowdfunding platform at www.5etou.cn. 5etou is
designed to enable small- and medium-sized companies, start-ups and
idea generators to raise funding from participants through the
Internet. The Company also provides quality business incubation
services and financial services to entrepreneurs and business
entities with funding needs who utilize our crowdfunding platform.
More information is available at www.dvintinc.com.
Forward-Looking Statements
This press release contains information about the Company's
view of its future expectations, plans and prospects that
constitute forward-looking statements. Actual results may
differ materially from historical results or those indicated by
these forward-looking statements as a result of a variety of
factors including, but not limited to, risks and uncertainties
associated with its ability to raise additional funding, its
ability to maintain and grow its business, variability of operating
results, its ability to maintain and enhance its brand, its
development and introduction of new products and services, the
successful integration of acquired companies, technologies and
assets into its portfolio of products and services, marketing and
other business development initiatives, competition in the
industry, general government regulation, economic conditions,
dependence on key personnel, the ability to attract, hire and
retain personnel who possess the technical skills and experience
necessary to meet the requirements of its clients, and its ability
to protect its intellectual property. The Company encourages
you to review other factors that may affect its future results in
the Company's registration statement and in its other filings with
the Securities and Exchange Commission.
For more information, please contact:
In China:
Bo Lyu, the Board Secretary
Dragon Victory International Limited
Email: lb@dvintinc.com
Phone: +86-15157527297
In the United
States:
Tina Xiao, President
Ascent Investor Relations LLC
Email: tina.xiao@ascent-ir.com
Phone: +1-917-609-0333
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SOURCE Dragon Victory International Limited