Nubia Brand International Corp. has entered into a Merger Agreement with Honeycomb Battery Company, in which Nubia will merge with and into Honeycomb, with Honeycomb becoming a wholly-owned subsidiary of Nubia. Nubia will change its name to Honeycomb Battery Company. The Merger Agreement provides for Nubia to issue aggregate consideration of 70,000,000 shares of the Combined Company's common stock at the Effective Time, plus up to an additional 22,500,000 shares upon the occurrence of certain events.