UMeWorld Limited (OTCPK:UMEW.F) signed a definitive agreement to acquire Beijing Luobo Qingcai Education Technology Co., Ltd. on January 13, 2020. Pursuant to the terms of agreement, UMeWorld will pay 25% of its common stock on a diluted basis as a consideration. Post-completion, Haining Zhang, founder and Chief Executive Officer of Beijing Luobo Qingcai Education Technology will become President and Chief Operating Officer of UMeWorld. Haining Zhang will also take a seat in Board of UMeWorld. The transaction is subject to customary closing conditions, including approval by UMeWorld’s stockholders and completion of Beijing Luobo Qingcai Education Technology’ audited financial statements. The transaction is expected to complete in April 2020. UMeWorld Limited (OTCPK:UMEW.F) cancelled the acquisition of Beijing Luobo Qingcai Education Technology Co., Ltd. on April 30, 2020.