Tantech Holdings Ltd (NasdaqCM:TANH) signed a share purchase agreement to acquire 18% stake in Libo Haokun Stone Co., Ltd. from Shanghai Shicai Minerals Co., Ltd. for CNY 120 million on January 8, 2018. The consideration will be paid in cash in two installments. The first installment of CNY 25 million will be paid within five business days following the execution of the agreement. The second and final installment of CNY 95 million will be paid within thirty days after the signing of the agreement. The acquisition will be funded from Tantech Holdings Ltd existing cash resources and cash to be received on its accounts receivable. Shanghai Shicai agrees to complete the registration process with the industrial and commerce administration of the local government before January 31, 2018, for transfer of the share ownership of Libo Haokun Stone Co., Ltd. to Tantech Holdings Ltd.