HK Xu Ding Co, Limited entered into a share purchase agreement to acquire 51% stake in iFresh Inc. (NasdaqCM:IFMK) from Long Deng for $7.1 million on January 23, 2019. As part of the transaction, HK Xu Ding will acquire 8,294,989 shares of iFresh based on a per share price of $0.85. From and after closing, Long Deng shall continue to manage the day-to-day operations of the company’s subsidiaries and assume all obligations and liabilities relating to or arising therefrom. The transaction is subject to closing conditions and all necessary corporate authorizations have been taken by Long Deng to approve this agreement and the transactions contemplated hereby. Joan Wu of Hunter Taubman Fischer & Li LLC acted as the legal advisor to Long Deng.