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Starstream Entertainment Inc. Announces Signing of LOI for the Proposed Acquisition of CityWalk e-Bike Inc., a China Focused Urban Mobility Company
Globenewswireยท 2025-12-18 13:15
Core Viewpoint - Starstream Entertainment Inc. has signed a non-binding Letter of Intent (LOI) to acquire CityWalk e-Bike Inc., a China-based electric bicycle company, indicating a strategic shift towards broader commercial initiatives [1][3]. Company Overview - Starstream Entertainment Inc. is a Nevada-based public company listed on the OTC Markets, historically focused on entertainment development and production, now refocusing its business strategy to enhance long-term shareholder value [4]. - CityWalk e-Bike Inc. operates in the electric and hydrogen-powered e-bike sector, providing related mobility products and services [5]. Transaction Details - The proposed acquisition is subject to customary conditions, including due diligence, negotiation of definitive documentation, and necessary regulatory and shareholder approvals [2]. - There is no guarantee that a definitive agreement will be reached or that the transaction will be completed [2]. Strategic Implications - The CEO of Starstream, Mr. Ding Zhao, emphasized that the LOI represents a significant step in evaluating a strategic opportunity that could strengthen the company's operating platform and create long-term shareholder value [3].