Agora Holdings Inc. Completes Due Diligence on eSilkroad, a Developing Global B2B Social Networking Platform
March 13, 2018 --
TORONTO, ON, March 13, 2018 (GLOBE NEWSWIRE) -- Agora Holdings Inc. (OTC PINK: AGHI) (the “Company”) today announced that it has completed its due diligence in respect to the terms of a letter of intent (“LOI”) entered into between ESILKROAD NETWORK LIMITED, a limited partnership incorporated under the laws of Hong Kong and its controlled subsidiary, eSilkroad of Ukraine, an entity formed and operating in the Ukraine, (collectively the “targets”) and the Company on March 1, 2018.
As a result, the Company and the shareholders of eSilkroad have commenced the process of preparing a formal Share Exchange Agreement in order to conclude the acquisition of these two entities and their unique work in progress relative to a B2B social networking platform as soon as practicable, with an anticipated completion date of April 15, 2018.
Ruben Yakubov, the Company’s president stated, “We are very excited to be branching out into this exciting field. Over the next 18 to 24 months we plan to fully develop the eSilkroad platform and its adjunct opportunities, including acquisition of complementary trade platform “eSilktrade” and development of next phase plans for “eSilkexpo”. We will provide a more detailed discussion and timeline of development over the coming weeks as we close the contemplated transactions. While the platform is global in scope, we are most excited to have the commitment and participation of the Silk Road Chamber of International Commerce “SRCIC” in this project.”
The SRCIC (www.srcic.com) is a transnational business confederation mainly composed of national commercial associations of the Silk Road countries. Currently SRCIC has over 100 organizational members from 75 countries, including state-level organizations and correspondents, as well as millions of enterprises affiliated, forming a community of shared interests, shared responsibilities and a shared future.(1)
(1) Source: http://www.srcic.com/profile/
About Agora Holdings Inc.
Agora Holdings Inc., together with its subsidiary Geegle Media and affiliates, is presently an entertainment and media enterprise. Agora Holdings Inc. brings together media and technology, driving innovation to enhance online entertainment in five business segments: media networks, TV, studio entertainment, consumer products and interactive media. Agora is seeking to expand its portfolio to include dynamic and interactive web-based networking platforms for global implementation.
About Esilkroad Network Limited and subsidiaries
Esilkroad Network Limited and its subsidiary, eSilkroad of Ukraine, is a conceptual B2B platform that intends to make the interaction between businesses and non-profit organizations throughout the world faster, more effective, and less costly. eSilknet, the web-based platform under development by eSilkroad Network Limited will allow users to search for and communicate with business partners, search for and post proposals for investment and opportunity in developing projects globally, place advertisements for products and services, communicate securely on trade and project development and attract professional services for specific project based needs. The concept of eSilknet is in line with the original concept of the “silkroad”, facilitating trade and commerce between countries, only a global scale. eSilkroad Network is currently negotiating the acquisition of complementary platform, “eSilktrade” which has been under development privately in Shanghai for several years. eSilkroad Network believes the combined expertise of its Ukraine based eSilkroad development team and the existing team at eSilktrade can integrate the live trade platform into its B2B site further enhancing value for its users. http://www.esilknet.com
Disclaimer -- Forward-Looking Statements
This press release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely on such statements. Forward-looking statements in this release are made as of the date hereof and Agora Holdings Inc. undertakes no obligation to update such statements.
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