Future FinTech to Amend Preliminary Proxy Statement

XI'AN, China, Oct. 31, 2017 /PRNewswire/ -- Future FinTech Group Inc. (NASDAQ: FTFT) ("Future FinTech" or "the Company"), a financial technology company and integrated producer of fruit-related products, today announced that it plans to amend its preliminary proxy statement as regards its 2017 Annual Meeting of Shareholders and change it to a special meeting of the Company's shareholders for the consideration of the corporate restructuring as disclosed in the preliminary proxy statement and other items associated with the restructuring.  

The Company will file a separate and new definitive proxy statement for its 2017 Annual Meeting of Shareholders (the "Annual Meeting") to include only the following two items:

1)      To elect five directors to hold office until the next Annual Meeting of Shareholders and until their successors are elected and qualified; and

2)      To ratify the Audit Committee's selection of the independent registered public accounting firm for the fiscal year ending December 31, 2017.

The changes are being made to ensure that the Annual Meeting will be held by the end of this year in compliance with one of Nasdaq's continued listing requirements. The Company plans to have its Annual Meeting on Thursday, December 28, 2017 at 10:00 A.M., local time at 16F, China Development Bank Tower, No.2, Gaoxin 1st Road, Xi'an, Shaanxi, China. The close of business on October 31, 2017 will remain the record date for determining the shareholders entitled to vote at the Annual Meeting.

A special shareholders meeting will be planned to be held in early 2018 to vote on the corporate restructuring previously disclosed in the preliminary proxy, which would entail the spin-off of the Company's wholly owned subsidiaries, SkyPeople Foods Holdings Limited (BVI) and FullMart Holdings Limited (BVI), and other items that the Company is considering to be submitted for approval to the shareholders of the Company.

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2016 and otherwise in our SEC reports and filings, including the proxy statement for 2017 annual meeting. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

About Future FinTech Group Inc.

Future FinTech Group Inc. ("Future FinTech" or the "Company"), is an agricultural products company that utilizes financial technology solutions to operate and grow its businesses.  The Company is engaged in the production and sales of fruit juice concentrates, fruit beverages, and other fruit related products in China and certain overseas markets. The Company's fruit juice concentrates are sold to domestic customers and exported directly or via distributors. Its fruit juice products, "Hedetang" and "SkyPeople," are healthy and nutritious beverages and sold primarily in China. The Company leverages e-commerce and new technology platforms and is building a regional agricultural products commodities market with the goal to become a leader in agricultural finance technology. For more information, please visit http://www.ftft.top/.

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SOURCE Future FinTech Group Inc.