Oriental Rise enters non-binding letter of intent to acquire Hubei Daguan Tea

Oriental Rise (ORIS) announced that it has entered into a non-binding letter of intent to acquire a controlling equity interest in Hubei Daguan Tea Industry, a tea producer and processor based in Yingshan County, Hubei Province. Oriental Rise will conduct due diligence on Daguan Tea and, subject to satisfactory results, proceed with negotiations toward a definitive transaction agreement. The LOI is non-binding, and the completion of any transaction remains subject to due diligence, execution of definitive agreements, and other customary conditions.