UMeWorld Inc 6-K, filed Sep 26, 2022
UMeWorld Inc. (UMEW)
About this 6-K
UMeWorld Inc filed this 6-K on September 26, 2022.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
For the month of September 2022
Commission File Number 000-030813
| UMeWorld, Limited |
| (Translation of registrant’s name into English) |
Unit 12B, Hang Seng Causeway Bay Building
28 Yee Wo Street, Causeway Bay
Hong Kong, China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40F:
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
On September 26, 2022, UMeWorld Limited (the “Company”) issued a press release announcing that the Company and its wholly-owned Chinese subsidiary, UMeLook (Guangzhou) Information Technology Co., Ltd. terminated all contractual agreements with Guangzhou XinYiXun Network Technology Co., Ltd., a variable interest entity (“VIE”) of the Company. The Company dissolved its variable interest entity structure and ceased all business activities in China, and is now focused on its health and wellness business in North America.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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| UMeWorld, Limited |
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| September 26, 2022 | By: | /s/ Michael Lee |
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| Michael Lee Chief Executive Officer and Chairman of the Board |
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| Exhibit No. |
| Description |
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EXHIBIT 99.1
UMeWorld Limited Dissolves the VIE Structure, Winds Down Its Educational Business in China
The Company is transitioning itself into a health and wellness company through its wholly-owned U.S. subsidiary Dagola Inc.
Hong Kong, September 26, 2022 – UMeWorld Limited (OTC PINK: UMEWF) today announced that the Company’s wholly-owned Chinese subsidiary, UMeLook (Guangzhou) Information Technology Co., Ltd. has terminated all contractual agreements with Guangzhou XinYiXun Network Technology Co., Ltd., a variable interest entity (“VIE”) of the Company. As previously announced on August 15, 2022, UMeWorld has terminated business activities in China and is now focused on its health and wellness business in North America. As part of this restructuring, the Company is relocating its Head Office from Hong Kong to Miami, Florida, a process that is expected to be completed by the end of October 2022.
“The wind-down of our education business in China and the transition to the wellness business marks a new milestone for the Company,” said Michael Lee, CEO of UMeWorld. “Going forward, we will focus on growing the company organically and through mergers and acquisitions. We have entered the U.S. Health and Wellness Market with the introduction of Dagola (diacylglycerol - DAG) cooking oil which, to the best of our knowledge, is the only DAG cooking oil available in the U.S. market. We have signed an LOI for the acquisition of a nutritional supplement sales and marketing company based in Florida, which is expected to close in October 2022. There are several accretive M&A targets that the company has identified for potential acquisition, that are in various stages of negotiations.
In closing, on behalf of UMeWorld’s management team and Board of Directors, I wish to thank our shareholders for their continued support and I look forward to providing further updates as our Company progresses.”
About UMeWorld Limited
UMeWorld Limited is a health and wellness company with a mission to help its customers live more healthfully. The Company, through its subsidiaries, plans to operate in the sales and marketing of diacylglycerol cooking oils and nutritional supplement & raw material businesses.
About Dagola Inc.
Dagola Inc. is a wholly-owned U.S. subsidiary of UMeWorld Limited. Dagola Inc. is engaged in the sales and marketing of novel foods in North America. For more information about Dagola Inc., please visit www.dagolaoil.com.
PR Contact
Dagola Inc.
E-mail: info@dagolaoil.com
UMeWorld Limited
E-mail: info@umeworld.com