TAOP Announces Its First Overseas Strategic Cooperation in Canada
SHENZHEN, China, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP), a leading provider of internet-based ad distribution and display terminal sharing systems and online retail platform, today announced that it has entered into a strategic cooperation agreement with Canada-based Capital Green Tech & Trade Corp. (CG) to formally enter the overseas market. According to the agreement, as the local partner of TAOP, CG will operate TAOP sharing new media in Toronto, Canada.
Having one of the largest Chinese communities in Canada, the Greater Toronto Area is home to six Chinatowns with strong presence of Chinese restaurants. Leveraging its local business resource in the communities, CG partnered with the local Chinese Restaurant Association to help with the media promotion of Toronto’s Chinese restaurants.
Neighboring New York to its southeast and Ottawa to its northeast, Toronto is the largest city in Canada and the capital of Ontario. As a vibrant multicultural city, Toronto has immigrants from over 100 countries. Among them, the Chinese population accounts for 14.4%, which is the largest Chinese ethnic group outside Asia. As of today, Taoping terminals has been put into operation in major Chinese restaurants in Toronto. In addition to Chinese restaurants, TAOP is also gradually spreading its footprints into other stores and businesses.
“Our successful landing in Toronto is the very first step of our overseas market expansion after TAOP’s initial closing of $1.5 million private placement,” said Mr. Jianghuai Lin, the Chairman and CEO of TAOP, “with cash flow from the private placement, we are expecting to see the Company’s accelerating strategic development in the overseas market.”
About Taoping Inc.
Taoping Inc. (formerly known as China Information Technology, Inc.) Nasdaq: TAOP, is a leading cloud-based ad terminal and service provider of digital advertising distribution network and new media resource sharing platform in the Out-of-Home advertising market of China. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on the ad display terminals. Connecting cloud-based ad terminal owners, advertisers and consumers, it builds up a resource sharing “Smart IoT Terminal - Taoping Net/ App – Taoping E-store” media ecosystem to ultimately achieve the mission “our technology makes advertising and branding affordable and effective for everyone.” To learn more, please visit http://www.taop.com/.
Safe Harbor Statement
This press release may contain certain “forward-looking statements” relating to the business of Taoping Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are “forward-looking statements” in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as “believes”, “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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Dragon Gate Investment Partners LLC