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Technovative Group, Inc. Shifts Focus in Fintech and Blockchain Service Provider - Announces Acquisition of Guangzhou City Hedu Information Technology Co., Ltd

HONG KONG, CHINA, Jan. 03, 2018 (GLOBE NEWSWIRE) -- Technovative Group, Inc. ("Technovative" or the "Company") (OTCPINK: TEHG), a technology company focused in delivering financial technology, blockchain and big data analytics technologies, announced that on December 27, 2017, the Company has entered into a Share Transfer Agreement with several individuals who are shareholders of Guangzhou City Hedu Information Technology Co., Ltd. (“Hedu”), a PRC incorporate company, in exchange for entering into a certain loan agreement and entering into a series of contractual arrangements (the “VIE Agreements”) whereby Hedu shall become a Variable Interest Entity (“VIE”) of the Company.

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