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     122  0 Kommentare OTC Markets Requests Weyland Tech to Comment on Recent Promotional Activity

    NEW YORK, Feb. 13, 2020 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL) (“Weyland” or “Company”) has received a request by the OTC Markets Group to comment on recent promotional activity related to Weyland Tech’s common stock traded on the OTC Markets.

    On January 21, 2020, Weyland Tech engaged Emerging Markets Consulting, LLC (“EMC”) to independently develop and publish digital media to help build awareness for Weyland Tech as a publicly traded company. Materials published on February 10, 2020 by EMC or its contractors presented a general overview of the Company’s business as well as the growth potential of the Company and its industry. Weyland Tech provided EMC publicly available source information for these materials, but did not have editorial control over the materials, including reviewing the materials for factual accuracy prior to their dissemination.

    On February 10, 2020, Company management learned that some materials may have included speculative language and forward-looking statements about the Company’s future prospects; however, the Company believes that none of the materials published were misleading or false, or included information regarding the Company that had not yet been previously disclosed by the Company in compliance with Regulation FD and related U.S. Securities and Exchange Commission reporting requirements. The Company has not determined whether the publication of the materials had a material impact on the trading of the Company’s common stock. The Company has ended its engagement with EMC and arranged for discontinuance of the dissemination of these materials.

    Upon inquiry of the Company’s management, directors, control persons and third-party service providers, and to the best of the Company’s knowledge, during the past 90 days no such persons executed any transactions of the Company’s securities for purchase or sale of stock, except as to purchases made by Company management as previously disclosed in press releases issued on November 19, 2019 and February 10, 2020. Weyland Tech company policy requires insiders who purchase the Company’s common stock from any source to hold the stock for a minimum of two years.

    From time-to-time over the past several years, the Company has sold shares of its restricted common stock in private transactions at prices per share which constituted a discount to the market rate at the time of the issuance. Most recently, in November and December 2019, the Company sold an aggregate of 2,240,000 shares of restricted common stock in a private transaction to individual accredited investors at a price per share of $0.25, which constituted a discount to the current market rate at the time of the issuance. For more information about these past issuances, please refer to the Company’s filings with the U.S. Securities and Exchange Commission at sec.gov.

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    OTC Markets Requests Weyland Tech to Comment on Recent Promotional Activity NEW YORK, Feb. 13, 2020 (GLOBE NEWSWIRE) - Weyland Tech, Inc. (OTCQX: WEYL) (“Weyland” or “Company”) has received a request by the OTC Markets Group to comment on recent promotional activity related to Weyland Tech’s common stock traded on the OTC …