Sunshine Agri-Tech Announces the Closing of the Disposition of Assets

Vancouver, British Columbia--(Newsfile Corp. - January 28, 2021) -  Sunshine Agri-Tech Inc. (TSXV: SAI.H) ("Sunshine Agri-Tech" or the "Company") reports that the Company's shareholders approved, by a special resolution, the sale of 100% interest (the "Transaction") of the Company's wholly-owned subsidiary, Health China Capital Limited (formerly, Sunscape (Hong Kong) Limited) to Nonpaike Bio-Tech (Dalian) Co., Ltd. on the annual and special general meeting of the Company held on December 10, 2020. More descriptions of the Transaction were disclosed in the Management Information Circular dated November 9, 2020 as well as the Company's press releases dated November 17, 2020, both of which are posted on SEDAR.

In addition to the shareholders approval, NEX has also accepted the Transaction. All the closing conditions were fulfilled and the Transaction was therefore successfully closed.

On Behalf of the Board of Directors

SUNSHINE AGRI-TECH INC.

Baojun Zhang, PhD
Director

Neither Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements made in this press release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and the actual developments of results, may vary materially from those in these "forward-looking" statement.

CONTACT INFORMATION

Sunshine Agri-Tech Inc.
Xiaozhu Pang
Chief Financial Officer
Tel: 778.865.2296

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73086