AB INTL GROUP Announces Repurchase of Common Stock for Cancelation
NEW YORK, Aug. 26, 2024 (GLOBE NEWSWIRE) — AB International Group Corp. (OTC: ABQQ), an intellectual property (IP) and movie investment and licensing firm, today announced a repurchase of 50,296,980 shares of common stock for cancelation. Its positive cash flow continues to come from net profitability to enable the repurchase of more shares in the near future.
On August 21, 2024, AB International Group Corp. (the “Company”) entered into Repurchase Agreements with seven shareholders, all non-affiliates of the Company, pursuant to which the Company agreed to repurchase shares of their Common Stock, $0.001 par value, amounting to 50,296,980 shares for cancelation. The price to be paid by the Company under the Repurchase Agreements is $50,297, which will be funded with cash on hand.
The Company’s positive cash flow continues to come from net profitability to enable repurchasing more shares in the near future.
The Company will open https://www.globenewswire.com/NewsRoom/AttachmentNg/afb8e4a3-d0c9-491e-8dea-a43f3081657b
https://www.globenewswire.com/NewsRoom/AttachmentNg/0ac270d0-4445-4b5f-af36-2f9fb61d56fd
