Benzinga | Jun 3, 2021 08:43AM EDT

Recon Enters Share Exchange Agreement With Starry Blockchain Energy; Co. To Issue Unregistered, Restricted Class A Shares To Starry's Founding Shareholders n Exchange For 30% Of Shares Of Starry

Recon Technology, Ltd. (NASDAQ: RCON) ("Recon" or the "Company") today announced that the Company has entered into a share exchange agreement (collectively, the "Agreement") with Starry Blockchain Energy Pte. Ltd. ("Starry") (starrylab.io)on June 3, 2021. Incorporated in Singapore, Starry seeks to leverage blockchain technology to drive sustainable energy solutions. Pursuant to the Agreement, Recon will issue unregistered, restricted Class A shares (the "Restricted Shares") to Starry's founding shareholders in exchange for 30% of the shares of Starry.