Kuber Resources acquires Gongfa Materials for ~$130M in stock; related-party transaction

Kuber Resources Corp

Acquires 100% of Gongfa (engineered wood) for ~$130M in Kuber stock at $4.80/share; closing expected Q4 2024.
New shares equal ~20% of Kuber's outstanding (26.5M shares); total shares post-issuance 159.1M.
Gongfa shareholders become Storming Dragon shareholders via concurrent exchange agreement; Storming Dragon to hold 67.66% of Kuber.
Director Li Jiyong (28.14% of Gongfa) will own 19.04% of Kuber post-issuance; CEO Raymond Fu remains controlling.
Valuation report due within 14-45 days; share issuance 45+ days after report, subject to board approvals.

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