NEW YORK, Dec. 10, 2020 (GLOBE NEWSWIRE) — AB International Group Corp. (OTCQB: ABQQ), an intellectual property (IP) and movie investment and licensing firm, today announced the repayment of convertible notes, issued on July 17, 2020 and January 8, 2020 ( the ” EMA Note and CBP Notes”). The Company made a $145,300 prepayment of principal and interest on EMA Note and CBP Notes and, in connection with this prepayment, EMA Note and CBP Notes were terminated. And there released 313,659,990 they reserved shares to the Company treasury.
Chiyuan Deng, AB’s Chief Executive Officer, stated, “In continuation of the previously announced transactions canceled all warrants, we are pleased to announce the full repayment and termination of EMA Note and CBP Notes. The repayment creates financial flexibility for the Company as we manage our capital requirements and seek to maximize shareholder value.”
About AB International Group Corp.
AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on acquisitions and development of various intellectual property. We are engaged to acquisition and distribution of movies. The Company has a Patent License to a video synthesis and release system for mobile communications equipment, in which the technology is the subject of a utility model patent in the People’s Republic of China. The Company engages highly anticipated video streaming service targeting global multi-billion dollar and growing video streaming industry. The online service will be marketed and distributed in the world under the brand name ABQQ.tv. ABQQ.tv is expected to generate a new and profitable revenue stream immediately following its launch derived from its hybrid subscription and advertising business model.
For additional information visit www.abqqs.com
This press release contains “forward-looking statements” that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to changes to the Company’s management team and statements relating to the Company’s transformation, financial and operational performance including the acceleration of revenue and margins, and the Company’s overall strategy. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the possibility of business disruption, competitive uncertainties, and general economic and business conditions in AB International Groups markets as well as the other risks detailed in company filings with the Securities and Exchange Commission. AB International Group undertakes no obligation to update any statements in this press release for changes that happen after the date of this release.
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