ZK International Group Co., Ltd. Announces $2 Million Investment in NASDAQ Listed Company Recruiter.com Group, Inc. - PR Newswire APAC
Summary
WENZHOU, China, July 19, 2024 /PRNewswire/ -- ZK International Group (Nasdaq: ZKIN) ("ZKIN", "ZK International" or the "Company"), a leading manufacturer and supplier of patented high-performance stainless steel and carbon steel pipe products, is pleased to announce that on July 12, 2024, the Board of Directors approved and ratified an investment of $2 million in Recruiter.com Group, Inc. (Nasdaq: RCRT) ("Recruiter.com") through the purchase of 2,000,000 shares of Common Stock at a purchase price of $1.00 per share. This investment includes a six-month option to purchase an additional 2,000,000 shares at $1.00 per share pursuant to certain Stock Purchase Agreements dated July 12, 2024 (the "SPA") by and between the Company and Recruiter.com (the "2024 Exempt Offering").On July 12, 2024, we entered into an SPA with Recruiter.com, which is a Nasdaq-listed company. With a focus on designing and implementing next-generation solutions through industrial, environmental and software engineering, ZKIN owns 46 patents, 46 trademarks, 5 Software Copyrights, 2 National Innovation Fund Awards, and 41 National and Industry Standard Awards.ZKINs core business is to engineer and manufacture patented high-performance stainless steel and carbon steel pipe products that effectively deliver high quality, highly sustainable and environmentally sound drinkable water to the Chinese, Asia and European markets. ZK International is preparing to capitalize on the $850 Billion commitment made by the Chinese Government to improve the quality of water, which has been stated to be 70% unfit for human contact.For more information please visit www.ZKInternationalGroup.com. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and many of which are beyond the control of ZK International.