Yimai Technology International Company Limited announces increase in ownership in Annidis Corporation

WANCHAI, Hong Kong, July 29, 2016 /CNW/ - Yimai Technology International Company Limited ("Yimai") of Unit D, 16/F, Cheuk Nang Plaza, 250 Hennessy Rd., Wanchai, Hong Kong, pursuant to National Instrument 62-103 "The Early Warning System and Related Take Over Bid and Insider Reporting Issues", has today filed an early warning report disclosing that it increased its ownership of Annidis Corporation ("Annidis") as a result of the completion of the following transactions:

1.

On June 9, 2015, pursuant to an agreement with Annidis, Yimai purchased, on a private placement basis, 10,000,000 common shares in the capital stock of Annidis at a price of $0.25 per common share for an aggregate of $2,500,000 (the "Share Sale");

2.

On June 9, 2015, pursuant to an agreement with Annidis, Yimai and Annidis settled a $500,000 promissory and all interest having accrued thereon by way of a shares for debt transaction whereby the Yimai was issued 2,016,667 common shares at price of $0.25 per share (the "Shares for Debt Transaction");

3.

Between December 11, 2015 and February 12, 2016, Yimai advanced to Annidis, on a private placement basis, the following principal amounts in exchange for convertible promissory notes pursuant to which the principal and interest having accrued thereon was convertible into common shares:


a.            $150,000 on December 11, 2015, convertible at a price of $0.09 per common share;


b.            $130,000 on December 30, 2015, convertible at a price of $0.09 per common share;


c.            $130,000 on January 11, 2016, convertible at a price of $0.09 per common share;


d.            $120,000 on January 29, 2016, convertible at a price of $0.07 per common share;


e.            $140,000 on February 12, 2016, convertible at a price of $0.05 per common share;


The principal amount of these convertible notes and all interest having accrued thereon was subsequently converted into a total of 9,197,382 common shares on April 28, 2016 (the "Note Conversion");

4.

On March 4, 2016 Yimai advanced the principal amount of $200,000 to Annidis in exchange for a convertible promissory note pursuant to which the principal and interest having accrued thereon are convertible into common shares at price of $0.05 per common share (the "March 4th Note");

5.

On March 17, 2016 Yimai advanced the principal amount of $150,000 to Annidis in exchange for a convertible promissory note pursuant to which the principal and interest having accrued thereon are convertible into common shares at price of $0.055 per common share (the "March 17th Note"); and

6.

On March 31, 2016 Yimai advanced the principal amount of $100,000 to Annidis in exchange for a convertible promissory note pursuant to which the principal and interest having accrued thereon are convertible into common shares at price of $0.06 per common share (hereinafter the "March 31st Note" and together with the March 4th Note and the March 17th Note collectively referred to hereinafter as the "Convertible Notes").

As a result of the Share Sale, the Shares for Debt Transaction and the Note Conversions, Yimai has acquired an additional 21,214,049 common shares.  If converted by Yimai, the Convertible Notes represent an additional 8,393,939 Shares (excluding any Shares issued to satisfy accrued but unpaid interest). As a result of these transactions, the Yimai's holdings of common shares in the capital stock of Annidis have increased from 34.5% to 48.6% on a partially diluted basis.

Yimai has purchased these additional securities in the capital stock of Annidis for investment reasons, and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over additional securities of the securities or otherwise, but does not have any plans related to any of the matters in the enumerated list in Item 5.1 of Form 62-103F1.

SOURCE YIMAI Technology International Company Limited

For further information: or to obtain a copy of the report filed pursuant to applicable securities regulations in connection with the foregoing please contact: Jinsong Zhang, Director, Chief Executive Officer and General Manager, Yimai Technologies International Company Limited, Unit D, 16/F, 250 Hennessy Road, Wanchai Hong Kong, Phone: +0755-269808019

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