Yunhong Green CTI announced the formation of a new subsidiary and related intended acquisition of an operating facility to advance the business of compostable, biodegradable and recyclable materials to enhance environmental sustainability. In anticipation of the expected acquisition of this facility, the Company’s Board of Directors has authorized the use of up to 5 million shares of our common stock to acquire the facility and its related operational expenses. The address of this newly formed subsidiary is: Yunhong Technology Industry Co., Ltd., Yunhong Health Industrial Park, No. 1, Jiangbei First Class Highway, Qianlu Village, Tianzhen Office, Wuxue City, Huanggang City, Hubei Province, The People’s Republic of China.
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