THF International (Hong Kong) Ltd entered into an agreement to acquire Velt International Group Inc. (OTCPK:VIGC) in a reverse merger transaction on January 24, 2019. As part of the consideration, Velt will issue 8 million shares as a consideration. On May 13, 2019, Velt International Group Inc. executed an amendment to the acquisition agreement with THF International (Hong Kong) wherein Velt International agreed to acquire only 85% of THF and reduce the purchase price to 6.8 million shares from 8 million shares. Therefore, 1.2 million shares will be returned to the Velt International's authorized but not-outstanding status. The transaction is subject to approval by Velt International Board of Directors and shareholders. The transaction is also subject to approval of THF International Board.