SOURCE: 12 Retech Corporation

12 Retech Corporation

June 30, 2017 13:13 ET

12 Retech Corporation Completes Acquisition of 12 Hong Kong Limited Interactive Smart Retail Shopping Technology

HONG KONG, CHINA--(Marketwired - Jun 30, 2017) - 12 Retech Corporation fka Devago, Inc. ("12 Retech" or the "Company") (OTC PINK: DVGGD) is pleased to announce that the Company has completed the acquisition of 12 Hong Kong Limited, a Hong Kong Special Administrative Region corporation. 12 Hong Kong Limited ("12RT") is the developer of the patented "12" next-gen retail shopping technology which seamlessly combines cutting-edge digital tech and social networking with real life for a fun and unique shopping experience.

12 Retech Corporation acquired 100% of 12RT in exchange for an aggregate of Fifty-Five Million (55,000,000) shares of Company stock, consisting of: (i) Fifty Million (50,000,000) shares of Company common stock; and, (ii) Five Million (5,000,000) shares of Company Series A Preferred Stock. As a result, 12RT is now a wholly-owned subsidiary of the Company. Following the closing of the transaction, the Company currently has 78,692,024 shares of Common Stock and 5,000,000 shares of Company Series A Preferred Stock issued and outstanding.

Angelo Ponzetta, CEO of 12 Hong Kong Limited, commented, "The completion of this going-public transaction is another significantly positive milestone for our business strategy and for the development and deployment of our patented next-generation retail shopping technologies. Now with our elevated status as a publicly traded company, we are set to launch our planned expansion strategy and develop new potential opportunities to showcase our cutting-edge solutions and technologies with strong retail partners around the world. I look forward to building a bright future for 12, its partners, and our valued shareholders."

Established in 2010, 12 fully integrates in-store, online, and mobile shopping experiences with its patented smart 12Mirrors, 12Mobile app, and 12Kiosks, while an interactive advertising screen provides special offers from shops, restaurants, and service providers. 12 simultaneously meets the needs of shop owners and customers, making in-store shopping fun and entertaining.

Safe Harbor Declaration
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to many risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.

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