NTIC subsidiary to acquire Shanghai industrial building for ~$5.1M for new headquarters

NORTHERN TECHNOLOGIES INTERNATIONAL CORP

Purchase price ~RMB 32.6M (~$5.1M) plus ~RMB 10M (~$1.6M) in renovation and transaction costs.
Property is ~1,950 sq meter industrial building in Qingpu District, Shanghai; will serve as NTIC China HQ.
Payment: 50% at signing, remaining 50% due by July 15, 2021; funded with cash on hand.
Title and land-use-right transfer targeted before Jan 1, 2022; seller to vacate by Jan 31, 2022.
Contract governed by PRC law; disputes via Shanghai Arbitration Commission or Qingpu court.

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